Amit Spinning Industries Limited has informed the Exchange regarding Appointment of M/s Nilesh Ashok Chalke as Cost Auditor of the company w.e.f. May 17, 2025.
Awaiting price reaction for this filing.
The board of Girnar Spintex Industries Limited (formerly Amit Spinning) met on May 17, 2025 and made four key decisions. Mr. Shrenik Deepak Choudhari has been appointed as the new Chief Financial Officer with immediate effect. Three audit firms were also reappointed for FY2025-26: Thigale Utturkar and Associates as Internal Auditors, Shrenik Nagaonkar and Associates as Secretarial Auditors, and Nilesh Ashok Chalke as Cost Auditor. Notably, the new CFO is the son of CMD Deepak Choudhari and Non-Executive Director Madhubala Choudhari, making this a promoter-family appointment. The board meeting ran from 4:00 PM to 5:15 PM.
The CFO change introduces a second member of the promoter's family into the top management, which may raise governance concerns for minority shareholders despite continuity in audit appointments. The reappointment of all three auditors signals stability in compliance and audit oversight for the coming financial year.