Indong Tea Company Ltd has concluded its 36th AGM, with shareholders approving the transition of Shri Hariram Garg to Chairman and the appointment of Shri Rajesh Garg as the new Managing Director. The company also reappointed its statutory auditors and confirmed several board reappointments, formalizing its governance structure for the next five years.
Indong Tea Company Concludes 36th AGM with Leadership Overhaul
Indong Tea Company Ltd has successfully concluded its 36th Annual General Meeting (AGM), securing shareholder approval for a strategic leadership transition and the adoption of its FY26 financial statements.
Reader Takeaway: The transition to a new Managing Director signals long-term continuity; shareholder approval of all resolutions ensures stability.
What just happened
At the AGM held on September 28, 2026, shareholders passed all eight proposed agenda items. The most significant shift involves the leadership team: Shri Hariram Garg has stepped down from his position as Managing Director to assume the role of Chairman & Executive Director. Consequently, Shri Rajesh Garg has been elevated from Non-Executive Director to Managing Director for a five-year tenure, which will run through September 27, 2031.
Why this matters
This transition marks a formal handover of executive responsibilities within the company. By maintaining Hariram Garg’s presence as Chairman and Executive Director, the firm aims to balance fresh leadership with institutional memory. Additionally, the reappointment of M/s Agarwal Kejriwal & Co as Statutory Auditors for another five-year term provides continuity in financial reporting and oversight until the 41st AGM.
Board and Governance Updates
Beyond the executive changes, the company confirmed the following appointments:
- Re-appointment of Shri Madanlal Garg, Shri Rajesh Garg, and Smt. Rama Garg as directors following their retirement by rotation.
- Re-appointment of Shri Akhil Kumar Manglik as a Non-Executive Independent Director for a second five-year term, effective February 4, 2027.
What to track next
Investors should monitor how the new leadership team steers the company’s operational performance over the coming quarters, particularly given the stability established by these five-year term appointments.