Kome-On Communication Ltd Directors Vacate Office Due to SEBI Regulation Non-Compliance

Kome-On Communication Ltd has officially communicated to BSE regarding the automatic vacation of three additional directors' offices due to non-compliance with Securities and Exchange Board of India (SEBI) listing regulations. The company filed the intimation on January 14, 2026, under Regulation 30 requirements, confirming that the affected directors failed to receive mandatory shareholder approval within prescribed timeframes.

Directors Affected by Automatic Vacation

The company's official communication confirms that three additional directors have vacated their positions effective from the last date when the Annual General Meeting should have been held for the relevant financial year. All appointments were initially made based on recommendations from the Nomination & Remuneration Committee and approved by the Board of Directors.

Regulatory Non-Compliance Framework

The vacation of offices occurred due to non-compliance with Regulation 17(1C) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation establishes strict timelines for obtaining shareholder approval for director appointments on listed entities.

The specific regulatory provision states: "The listed entity shall ensure that approval of shareholders for appointment or re-appointment of a person on the Board of Directors or as a manager is taken at the next general meeting or within a period of three months from the date of appointment, whichever is earlier."

Kome-On Communication's failure to secure the required shareholder approval within the stipulated timeframe triggered the automatic vacation mechanism under SEBI regulations.

Official Communication and Compliance Actions

The company's formal communication to BSE, signed by Chief Executive Officer Sachin Mishra, outlined the regulatory breach and subsequent compliance measures. The official intimation was filed in accordance with Regulation 30 requirements for material event disclosures.

The company confirmed that Form DIR-12 will be filed on the Ministry of Corporate Affairs portal to document the automatic vacation of all three affected directors. This filing ensures compliance with prescribed procedures under SEBI listing regulations and maintains transparency regarding the company's board composition changes.