Mangalam Seeds Ltd

• Two directors resigned but delay in informing exchange by >24 hrs • Delay due to late submission of resignation letters to company • Company filed disclosure promptly after receiving letters • Apologies given, commitment to regulatory compliance assured

🕒 Delay in Resignation Disclosure

📄 Background of the News:

Mangalam Seeds Ltd informed that two directors, Samir Shah and Riddhi Shah, completed their tenure but the disclosure of this cessation to the stock exchange was delayed beyond the required 24 hours.

⏳ Reason for Delay:

The company explains the delay was due to late submission of resignation letters by these directors to the company itself, which led to the stock exchange being informed late. Once the company received the resignation letters, it acted swiftly to file the disclosure.

🤝 Company's Response:

The company regrets the inadvertent delay and assures investors and regulators of its commitment to adhere to compliance and regulatory requirements going forward.

📋 What This Means for Investors:

• Timely disclosure of director changes is a regulatory requirement intended to keep investors informed about the company's management.
• A delay, even if caused by internal communication lag, could create a perception of governance or procedural oversight.
• The company has taken responsibility and clarified the circumstances, indicating no intentional non-compliance.

🔍 Perceptions This May Create:

Investors may view this as a minor governance hiccup related to internal communication but also note the company's prompt corrective action. It's an example of regulatory oversight in corporate governance practices.

📈 Quantitative Data:

• The delay exceeded 24 hours from the effective date of director cessation.
• The exact length of the delay is not specified.

Overall, this is an operational compliance update highlighting the importance of timely communication within a company to ensure regulatory requirements are met.