Magellanic Cloud Limited, a prominent player in the Indian technology sector, has announced a significant change in its top management. Sanjay Mahendra Chauhan, the company's Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), has tendered his resignation, effective October 15, 2025.

Resignation Details

The company disclosed this development in a regulatory filing to both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). According to the filing, Chauhan's decision to step down is attributed to adverse health conditions.

Tenure and Contribution

Sanjay Mahendra Chauhan has been an integral part of Magellanic Cloud Limited for nearly 11 years. His long-standing association with the company underscores the significance of his role in shaping the financial strategies and operations of the organization.

Official Statement

In his resignation letter, Chauhan expressed his gratitude for the opportunities and experiences during his tenure. He stated, "I am sincerely grateful for the opportunities and experiences I've had during my tenure with Magellanic Cloud. It has been a great privilege to serve the company for nearly 11 years, and I have learned so many things under you."

Regulatory Compliance

Magellanic Cloud Limited has adhered to the regulatory requirements by promptly informing the stock exchanges about this change in Key Managerial Personnel. The disclosure was made in accordance with Regulation 30 and Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Company's Response

Joseph Sudheer Reddy Thumma, the Managing Director of Magellanic Cloud Limited, signed the regulatory filing, acknowledging Chauhan's resignation and the reasons provided. The company has confirmed that there are no other material reasons for Chauhan's departure beyond the stated health issues.

This change in the top financial leadership position may have implications for Magellanic Cloud Limited's financial strategy and operations in the near future. Stakeholders and investors will likely be keen to see how the company manages this transition and who will be appointed as the new CFO to fill this crucial role.

Magellanic Cloud Limited (MCL), a company listed on both the Bombay Stock Exchange and National Stock Exchange, has announced significant changes to its board and auditing team following decisions made at its 44th Annual General Meeting (AGM) held on September 23, 2025.

Board Expansion with New Independent Directors

The company has appointed three new Independent Directors, each for a five-year term:

1. Ms. Amita Sachin Karia: A Fellow Member of the Institute of Company Secretaries of India (ICSI), Ms. Karia brings over 13 years of experience in Corporate and Securities Laws. Her expertise spans areas such as Secretarial Audits, SEBI & Listing Regulations, FEMA and FDI Compliances, and Corporate Governance.

2. Mr. Mayank Mahendra Shukla: With seven years of experience as an Event Organizer, Mr. Shukla is known for his skills in managing budgets, vendors, and teams.

3. Ms. Priyanka Dharmesh Pandey: An Associate Member of ICSI, Ms. Pandey has over 5 years of experience in corporate compliance, governance, and regulatory reporting. Her expertise includes Secretarial Audits, SEBI & Listing Regulations, and Corporate Governance.

Auditor Appointments

MCL has made key decisions regarding its auditing team:

• Statutory Auditors: M/s. S G C O & Co LLP, Chartered Accountants, have been reappointed as the Statutory Auditors of the company for a period of five consecutive years, from the 44th to the 49th AGM.

• Secretarial Auditors: M/s. Deep Shukla & Associates, a Mumbai-based corporate practice firm providing secretarial consultancy services since 2003, has been appointed as the Secretarial Auditor for the same five-year period.

AGM Proceedings

The AGM, conducted through Video Conferencing (VC) and Other Audio-Visual Means (OAVM), saw the participation of 2 promoter shareholders and 61 public shareholders. Key company officials, including Managing Directors Joseph Sudheer Reddy Thumma and Jagan Mohan Reddy Thumma, along with other board members and executives, were in attendance.

The meeting addressed various agenda items, including the adoption of financial statements, declaration of dividends, and the re-appointment of Mr. Joseph Sudheer Reddy Thumma as a Director liable to retire by rotation.

These appointments and reappointments reflect Magellanic Cloud Limited's commitment to strengthening its corporate governance and ensuring diverse expertise on its board.