Dynamic Portfolio Management & Services Ltd said in a BSE filing on October 5, 2026, that Nainna Guptaa ceased to hold office as an additional non-executive director effective October 1, 2026. The company attributed the cessation to the operation of Section 161(1) of the Companies Act, 2013, after her appointment could not be placed before shareholders for consideration and regularisation.

The board took note of the cessation at its October 5 meeting, held at 10 am through video conferencing at the company's registered office in New Delhi. The disclosure was submitted under Regulation 30 read with Part A of Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

AGM timing prevented regularisation

Guptaa was appointed as an additional director with effect from August 13, 2026, under Section 161(1) of the Companies Act. As explained in the filing, an additional director holds office until the next annual general meeting or the last date on which that meeting should have been held, whichever is earlier.

The company said its annual general meeting for financial year 2025-26 had not been conducted within the prescribed period. It also stated that an extension had already been obtained. Consequently, Guptaa's appointment could not be put before members for consideration and regularisation.

According to the disclosure, her office therefore ceased by operation of law from October 1. The October 5 board meeting took note of that cessation, distinguishing the effective date of the change from the date on which the board recorded it.

Company clarifies nature of cessation

Dynamic Portfolio expressly stated that the cessation was not due to resignation, removal or withdrawal of nomination. It identified Section 161(1) as the basis for the end of her tenure as an additional director.

The annexure identified Guptaa by Director Identification Number 10242209 and disclosed that she is the daughter of managing director Rajesh Gupta. The filing, submitted for BSE scrip code 530779, was signed by Kirti, the company's company secretary and compliance officer.