Akshar Spintex Board Approves Auditor Appointment, Director Remuneration, and AGM Details
Akshar Spintex board recommended appointing new statutory auditors, approved remuneration for cost auditors and directors. Key appointments include Mrs. Illaben Dineshbhai Paghdar and Mr. Harry D. Paghdar, with remuneration up to ₹15 lakh and ₹12 lakh per annum respectively. The 13th AGM is scheduled for September 28, 2026.
The appointment of statutory auditors and re-appointment/appointment of directors and their remuneration are significant corporate governance and operational decisions that can impact stakeholder confidence and company management structure.
The announcement details routine board decisions such as auditor appointments and director remuneration, which are standard corporate actions and do not inherently suggest a positive or negative shift in the company's outlook.
Akshar Spintex Limited announced the outcomes of its Board of Directors meeting held on September 1, 2026. The Board recommended the appointment of M/s. H. Jamnadas & Company as Statutory Auditors for a five-year term, replacing M/s. H. B. Kalaria & Associates. They also approved the remuneration of ₹36,000 plus applicable taxes and expenses for M/s. Mitesh Suvagiya & Co., Cost Accountants, for the Financial Year 2026-2027, subject to member approval.
Further, the Board recommended remuneration proposals for key personnel. Mrs. Illaben Dineshbhai Paghdar's remuneration will be up to ₹15,00,000 per annum for three years from October 1, 2026, subject to member approval. Mr. Harry D. Paghdar, Executive Director, will receive up to ₹12,00,000 per annum from October 1, 2026, to September 30, 2029, also requiring member approval. Mr. Harikrushna Shamjibhai Chauhan was recommended for re-appointment as Chairman-cum-Whole Time Director for three years from January 8, 2027, with remuneration up to ₹30,00,000 per annum.
The Board also recommended the re-appointment of Mr. Parshotam Lakhabhai Vasoya as an Independent Director for a second term of five years from September 28, 2026, and the appointment of Mr. Sureshkumar Chaturbhai Gajera as an Independent Director. The company confirmed the dates for its 13th Annual General Meeting (AGM) on September 28, 2026, with e-voting from September 23 to September 27, 2026, and a cut-off date of September 21, 2026.
Arrangements for e-voting through NSDL were approved, and NSDL was authorized for electronic dispatch of the AGM notice and Annual Report. CS Dipali Vora was appointed as the Scrutinizer for the AGM. The Board also took note of the Secretarial Audit Report for FY 2025-26 and approved the Notice and Directors' Report for the 13th AGM. The Board noted the vacation of office by Mr. Parshotambhai L. Vasoya upon completion of his tenure on August 22, 2026.
A plain-language summary of a public exchange filing by Akshar Spintex Limited. Read the original for the full detail.