Amit Spinning Industries Limited has informed the Exchange regarding Appointment of Mr. Shrenik Deepak Choudhari as Chief Financial Officer of the company w.e.f. May 17, 2025.
Awaiting price reaction for this filing.
The Board of Directors of Girnar Spintex Industries Limited (formerly Amit Spinning Industries Limited) has appointed Mr. Shrenik Deepak Choudhari as the Chief Financial Officer (CFO) of the company with immediate effect from May 17, 2025. Mr. Shrenik is the son of Mr. Deepak Choudhari (Chairman and Managing Director) and Mrs. Madhubala Choudhari (Non-Executive Director), making this a promoter family appointment to a key managerial position. Additionally, the company reappointed its Internal Auditor (M/s Thigale Utturkar and Associates), Secretarial Auditor (M/s Shrenik Nagaonkar & Associates), and Cost Auditor (M/s Nilesh Ashok Chalke) for the financial year 2025-26. The new CFO holds no equity shares in the company and has experience in statutory audit, tax audit, indirect tax, direct tax, IBC consultancy, and management accounting.
The appointment of a promoter family member as CFO may raise governance concerns among retail investors, as it concentrates financial oversight within the controlling family. The reappointment of existing auditors for FY 2025-26 suggests continuity in compliance and audit functions without any disruption.