Akshar Spintex Concludes 13th Annual General Meeting

Akshar Spintex Ltd held its 13th Annual General Meeting (AGM) on September 28, 2026, via video conferencing. The meeting finalized key governance appointments and compensation structures for the leadership team.

Reader Takeaway: New auditor appointed for five years; management addressed audit report qualifications within the Annual Report.

What just happened

Akshar Spintex appointed M/s H. Jamnadas & Company as its new Statutory Auditors for a five-year term, covering the period from the 2026 AGM to the 2031 AGM. This firm succeeds the retiring M/s H. B. Kalaria & Associates. Additionally, the company approved the appointment of M/s Mitesh Suvagiya & Co. as cost auditors for the fiscal year ending March 31, 2027, with a remuneration of Rs 36,000.

Director Appointments and Remuneration

Shareholders approved several leadership-related resolutions:

• Harikrushna Shamjibhai Chauhan was re-appointed as Chairman cum Whole-time Director for a three-year term starting January 8, 2027, with an annual salary of Rs 30 lakh.
• Ilaben Dineshbhai Paghdar was re-appointed as Director, with annual remuneration capped at Rs 15 lakh for three years.
• Harry Paghdar’s remuneration was set at Rs 12 lakh annually for a three-year period.
• Parshotam Lakhabhai Vasoya was re-appointed for a second five-year term as an Independent Director, while Sureshkumar Chaturbhai Gajera was appointed as an Independent Director for a similar five-year term.

Governance and Observations

Management acknowledged that both the Statutory Auditor’s Report and the Secretarial Auditor’s Report for the current period included specific qualifications. These observations were presented to the shareholders during the meeting. The management clarified that detailed explanations regarding these qualifications have been documented within the company's Annual Report for investor review.

What to track next

Investors are advised to consult the company’s latest Annual Report to evaluate the nature of the qualifications raised by the auditors, as these points provide insight into the company’s governance and compliance disclosures.