Amit Spinning Industries Limited has informed the Exchange regarding Appointment of M/s Thigale Utturkar and Associates as Internal Auditor of the company w.e.f. May 17, 2025.
Awaiting price reaction for this filing.
At a board meeting held on May 17, 2025, the company (now renamed Girnar Spintex Industries Limited) appointed Mr. Shrenik Deepak Choudhari as the new Chief Financial Officer with immediate effect. Notably, the new CFO is the son of the Chairman and Managing Director Mr. Deepak Choudhari and of Non-Executive Director Mrs. Madhubala Choudhari, making this a family-led appointment to a key managerial position. The board also reappointed three existing auditors for FY 2025-26: M/s Thigale Utturkar and Associates as Internal Auditor, M/s Shrenik Nagaonkar and Associates as Secretarial Auditor, and M/s Nilesh Ashok Chalke as Cost Auditor. No resignations or departures from the board or KMP positions were reported in this filing.
Shareholders may view the appointment of a promoter family member as CFO as a governance concern, as it reduces independent oversight of the finance function. The reappointment of existing auditors is routine and does not signal any audit-related issues.