Midwest Energy Ltd Announces Multiple Board and Senior Management Changes Following Board Meeting
Midwest Energy Ltd., formerly known as Midwest Gold Limited, has seen several significant changes in its board composition and senior management following a recent Board of Directors meeting. The decisions included multiple resignations from key directors, the appointment of two new additional directors, and a change in the Chief Financial Officer (CFO).The company confirmed the departure of four members from its directorate who resigned due to personal reasons and other professional commitments.
| Director Name | Designation | Effective Date |
|---|---|---|
| Mr. Deepak Kukreti | Whole-time Director | July 28, 2026 |
| Mr. Kothamasu Sri Surya Pratap | Non-Executive Independent Director | July 28, 2026 |
| Mrs. Rajyalakshmi Ankireddy | Non-Executive Independent Director | July 28, 2026 |
| Mr. Sasikanth Rao | Non-Executive Director | July 28, 2026 |
The company also welcomed two new appointments to the board as additional directors. Mr. Dinabandhu Mohapatra was appointed as an Additional Director (Non-Executive, Independent Director) with effect from July 28, 2026. His appointment is for a first term of five consecutive years, subject to shareholder approval.
Meanwhile, Mrs. Kollareddy Ranganayakamma was appointed as an Additional Director (Non-Executive Director), effective from the same date. Ms. Dasari, who holds qualifications including Chartered Accountancy (CA) and an LL.B. degree, was appointed as the new Chief Financial Officer (CFO). This role comes with effect from July 29, 2026, replacing Mr. Palepu Ramakrishna Venkatachala.
Related Party Transaction Approved
The Board also approved a professional consultancy arrangement involving former director Mr. Deepak Kukreti. The transaction involves the payment of professional consultancy fees to Mr. Kukreti for services related to the company's renewable energy, wind energy, clean energy, and allied business initiatives.The consultancy fee is not exceeding Rs. 12,50,000/- (Rupees Twelve Lakhs Fifty Thousand only) per month plus applicable GST. The transaction has been approved by the Audit Committee and the Board of Directors, pending approval by shareholders through a Special Resolution via Postal Ballot.
Key Personnel Changes Summary
The table below details the key changes in directorial appointments and resignations:| Particulars | Outgoing Director/Officer | Appointment Details |
|---|---|---|
| Directors Resigned (Effective July 28, 2026) | Mr. Deepak Kukreti (Whole-time), Mr. Kothamasu Sri Surya Pratap (NEID), Mrs. Rajyalakshmi Ankireddy (NEID), Mr. Sasikanth Rao (NED) | N/A |
| New Board Appointments | N/A | Mr. Dinabandhu Mohapatra and Mrs. Kollareddy Ranganayakamma as Additional Directors, effective July 28, 2026. |
| Chief Financial Officer (Effective July 29, 2026) | Mr. Palepu Ramakrishna Venkatachala | Ms. Rama Devi Dasari, appointed CFO, with nearly 20 years of experience in finance and strategic leadership across various industries. |
Stock Price Movement
Midwest Energy Ltd shares closed lower on Tuesday, settling at ₹3820.05, marking a 0.01% drop from the previous close. The stock traded during the session within an intraday range spanning from a low of ₹3710.00 to a high of ₹3859.00.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.