Notice of Postal Ballot 2025
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Awaiting price reaction for this filing.
Acknit Industries has issued a Postal Ballot Notice seeking shareholder approval to re-appoint Mr. Deo Kishan Saraf (DIN: 00128804) as Whole-time Director for 3 years w.e.f. April 1, 2025, and Mr. Abhishek Saraf (DIN: 00129144) as Whole-time Director for 3 years w.e.f. May 28, 2025. Both are Saraf family members; Deo Kishan is the younger brother of Managing Director Shri Krishan Saraf, and Abhishek is Shri Krishan's son (and spouse of Non-Executive Director Rashi Saraf). Proposed remuneration is Rs. 4 lakh/month (Rs. 48 lakh/year) for Deo Kishan and Rs. 2 lakh/month (Rs. 24 lakh/year) for Abhishek. E-voting runs from May 31, 2025 to June 29, 2025, with results on June 30, 2025. The company reported FY25 total revenue of Rs. 24,084.81 lakhs (up from Rs. 22,090.52 lakhs in FY24) and PAT of Rs. 899.51 lakhs vs Rs. 855.20 lakhs in FY24.
Routine promoter-family continuity at the board level with no change in leadership; modest salary increments embedded but unlikely to materially affect minority shareholders or near-term stock price. Outcome is expected to be a formality given promoter shareholding, but approval is required under Schedule V since remuneration thresholds are referenced.