7Seas sails steady as boss duo steer ship for five more blockbuster years

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7Seas sails steady as boss duo steer ship for five more blockbuster years

Board reappoints MD L. Maruti Sanker and ED L. Hemalatha till 2030 with shareholder nod

7Seas sails

MUMBAI: It’s a full steam ahead at 7Seas Entertainment Ltd., and at the wheel? The company’s power duo: L. Maruti Sanker and L. Hemalatha. The board of directors, clearly not one for surprises, handed both of them extended contracts this week — and let’s just say, the couple who leads together, stays together.

In a move smoother than a rom-com plot twist, the board on April 5 reappointed Sanker as MD and Hemalatha as executive director for another five-year term each.

Effective dates? 1 April 2025 for him and 28 March 2025 for her.

Tenure? Till March 2030.

Shareholder approval? Pending, but likely a formality — after all, it’s not every day you get a managing couple with a combined stake of 64,90,821 equity shares to run the show.

Both appointments came on the strong shoulders of the nomination and remuneration committee, which seems to believe, “If it ain’t broke, don’t reboot it.”

"The board of directors of the company, based on the recommendation of the Nomination and Remuneration Committee, has reappointed L. Hemalatha... and L. Maruti Sanker... for a period of five (5) years,” read the formal filings to BSE.

Corporate love story or just good business?

For the uninitiated, Hemalatha, a B.Sc graduate with 13 years of experience in game testing and admin, has served the company in various avatars. She also holds 4,00,000 equity shares, proving she’s got skin in the game — quite literally.

Sanker, on the other hand, is already something of a legend at 7Seas. The man juggles IT, games, marketing, operations, and HR like a tech-powered octopus on a Red Bull bender. And with 60,90,821 equity shares, he’s practically part of the furniture — the very expensive kind.

Oh, and did we mention? They’re married. Yes, it’s an actual boardroom romance, not just a metaphorical one. They’re officially listed as spouses — a line that SEBI filings, in all their thrilling glory, made sure to include. Love, leadership, and legalities, all tied up in a bow.

No red flags, no raised eyebrows.

Both directors have passed the regulatory sniff test. According to the filings, neither is “debarred from holding the office of director by virtue of any SEBI order or any other authority.” The Nomination Committee double-checked, just to be sure. The coast is clear. No skeletons in the closet, no regulatory cobwebs.

What does all this mean for investors and fans of 7Seas’ gaming and entertainment playbook?

Stability.

Vision.

And probably a lot more titles rolling out under the careful watch of two people who’ve built the house — and now continue to live in it.

So, while Hindi cinema plots twist every Friday, 7Seas has gone for a straight sequel: same cast, same crew, and five more years of what seems to be a winning formula.

Here’s to steady hands on deck. Or as they say in the business world: “strong governance with marital synergy.”