Proceedings and Outcome of the 20th AGM of the Company
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Avax Apparels and Ornaments Ltd held its 20th AGM on Friday, August 29, 2025, via video conferencing, commencing at 3:30 PM and concluding at 3:46 PM (a 16-minute meeting). The meeting was chaired by Managing Director Mr. Harinderpal Singh Sodhi with all key directors, the CFO, statutory auditor, and secretarial auditor/scrutinizer in attendance. A total of 10 resolutions were proposed for shareholder approval — 4 ordinary (including adoption of FY25 financial statements, re-appointment of rotating director Deepika Garg, re-appointment of statutory auditor, and appointment of new Independent Director Mr. Rajat Goel) and 6 special business items covering re-appointment and remuneration of Whole Time Directors, managerial remuneration limits, increase in borrowing limits, creation of charges on assets, and investment/loan thresholds. The auditors' report carried no qualifications, modified opinion, or adverse remarks, and no shareholder queries or speaking requests were received ahead of or during the meeting.
This was a routine AGM with standard governance and operational items including higher borrowing limits and director re-appointments, suggesting potential expansion or capital-raising plans ahead. Voting results are awaited and will determine actual shareholder approval, but no red flags or contentious issues surfaced during the proceedings.