Shareholders do not approve re-designation of Joint MD & CFO to Managing Director
At the 40th AGM held on 30th September, 2026, members did not approve changing Mr. N. Rajender Prasad (DIN: 00145659) from Joint Managing Director & CFO to Managing Director & CFO.
- AGM Date
- 30th September, 2026
- Director Name
- Mr. N. Rajender Prasad (DIN: 00145659)
- Current Position
- Joint Managing Director and CFO
- Resolution Outcome
- Members did not approve re-designation to Managing Director and CFO
- Term Period
- 10.08.2025 to 09.08.2028
What happened
At the 40th Annual General Meeting held on 30th September, 2026 through video conferencing, shareholders of Southern Magnesium and Chemicals Limited did not approve the proposed change in designation of Mr. N. Rajender Prasad (DIN: 00145659) from Joint Managing Director & CFO to Managing Director and CFO.
Background
- Members had approved his appointment as Joint Managing Director & CFO at the Annual General Meeting held on 29.09.2025.
- The Board of Directors, at its meeting on 12.11.2025, approved the re-designation to Managing Director and Chief Financial Officer, subject to members' approval.
- The company states that due to insufficient votes cast in favour of the resolution, the re-designation did not go through.
Current position
He will now continue to hold office as Joint Managing Director and CFO on the existing/same terms approved by shareholders at the 39th Annual General Meeting held on September 29, 2025, for the period 10.08.2025 to 09.08.2028.
About the person
Mr. N. Rajender Prasad holds a degree in Chemical Engineering and a Post Graduation in M.S., with over two decades of experience. He is one of the Promoter Directors of the Company and is the spouse of Mrs. Urmi Nuthakki Prasad. The company states he is not debarred from holding the office of Director pursuant to any SEBI Order or Order of any such authority.
How to read this
There is no change in who runs the company day to day; only the proposed upgrade in title was not cleared by shareholders. A resolution proposed by the Board failing to secure sufficient shareholder support can be read as a signal about shareholder sentiment on governance matters.
More numbers
- Term of office as Joint MD & CFO (start)10.08.2025 to 09.08.2028
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