Indo Count Industries Limited announced the immediate vacation of office for Mr. Kailash R. Lalpuria, Executive Director & CEO, effective 11th February 2026. This action was taken because Mr. Lalpuria’s prolonged absence, due to health-related reasons, triggered the provisions of Section 167(1)(b) of the Companies Act, 2013. This section mandates vacation if a director misses all Board Meetings over a twelve-month period without approved leave. No resignation or removal was involved in this statutory change.
Key Management Change Confirmed
Indo Count Industries Limited has officially notified the stock exchanges regarding a change in its directorship structure. The announcement concerns Mr. Kailash R. Lalpuria, holding the position of Executive Director & CEO (DIN: 00059758).
Statutory Basis for Vacation
The cessation of office was not a voluntary resignation but a consequence of statutory compliance. The company confirmed that Mr. Lalpuria’s absence from all Board Meetings over a continuous period of twelve months, despite health-related reasons, triggered Section 167(1)(b) of the Companies Act, 2013. This provision stipulates that a director’s office becomes vacant automatically under such circumstances.
Date and Nature of Change
The formal vacation of office took effect immediately on 11th February 2026. Key particulars related to this disclosure confirm the following:
- Reason for change: Vacation of office as per Section 167(1)(b) of the Companies Act, 2013.
- Date of cessation / vacation of office: 11th February, 2026.
- Brief profile / Disclosure of Relationships: Not applicable, as this was not an appointment.
The company acknowledges the information and thanks all stakeholders for their understanding regarding this mandatory administrative step.
Source: BSE
