Akshar Spintex Limited has informed the Exchange regarding Cessation of Mr. Sureshkumar C. Gajera as Independent Director of the company w.e.f. August 25, 2025.
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Akshar Spintex Limited has informed the exchanges that Mr. Sureshkumar C. Gajera (DIN: 11106779) ceased to be an Independent Director of the company effective August 25, 2025. He had been appointed as an Additional Director in the Independent Director category by the Board on May 21, 2025, and his appointment was put to a shareholder vote as a Special Resolution at the AGM held on August 25, 2025. Shareholders rejected the resolution, so the position was vacated. The company will now look for new candidates to fill the role. Mr. Gajera is not debarred by SEBI and does not hold directorship in any other listed entity.
Leaves a vacant Independent Director seat on the board, which the company will need to refill. The shareholder rejection of the board's nominee is a mild governance red flag and may suggest friction or dissent between certain shareholders and the board's selection process.