Deco-Mica ousts two directors who missed every board meeting for a year
The Ahmedabad nano-cap removed both after they failed to attend any sessions in twelve months and didn't seek leave. Their exit is now mandatory under the Companies Act.
What's new
- Gunjan Pandya and Nupur Modi have been removed from the Deco-Mica board for missing every meeting in 12 months.
- Neither director sought leave of absence before the board formalized their exit on May 29.
- The removal is mandatory under Section 167(1)(b) of the Companies Act.
Why this matters
Two directors don't just miss a year of meetings by accident. This is a nano-cap with a ₹26 crore market capitalization, so losing nearly a quarter of its board to enforced resignation is not a minor shuffle. The forced exit signals either deep disengagement or an internal dispute nobody is talking about publicly.
What we're watching
- Whether Deco-Mica discloses who pushed the non-attendance or why it went unresolved for 12 months.
- Any changes to board composition to replace the two vacated seats.
- Auditor commentary on board oversight in the next annual report.
The full read
Deco-Mica removed two of its board members, Gunjan Pandya and Nupur Modi, after both missed every board meeting for twelve straight months. The Ahmedabad nano-cap, with a ₹26 crore market capitalization, said neither director sought leave before the board enforced their exit on May 29 under Section 167(1)(b) of the Companies Act. This is not a resignation story. It is a forced exit after a full year of no-shows, and it means two of the company's directors were effectively absent from oversight for the entire period. For a firm this small, losing two board members to enforced vacancy in one shot is a clear governance failure. The open question is who knew, and why it took twelve months to act.
Questions answered
- Why were these directors removed?
- Under Section 167(1)(b) of the Companies Act, a director must vacate their seat if they miss all board meetings in a twelve-month period without leave. Both Gunjan Pandya and Nupur Modi hit that threshold.
- Could they have avoided removal?
- Yes. Either attending a single meeting or formally requesting leave from the board would have prevented the mandatory vacation. The filing states neither director did either.
- What kind of company is Deco-Mica?
- It is an Ahmedabad-based nano-cap with a ₹26 crore market capitalization. At that size, two board vacancies is a meaningful governance event.
- Did these directors hold executive roles?
- No. The filing specifies neither was a CEO, CFO, or other executive officer. They served as non-executive directors on the board.