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Deepak Spinners Limited held its 43rd AGM on 19th September 2025 via video conferencing. All five resolutions were passed with requisite majority. Resolutions to adopt audited financial statements for FY25, approve cost auditors' remuneration for FY26, and appoint secretarial auditors passed with near-unanimous support (99.99997% in favour). The appointment of Shri Raja Ram Kankani as Director and as Whole-Time Director ('President and Whole Time Director') passed with 88.61% in favour, with 11.39% votes against (276,183 shares). Notably, 590,174 shares held by Mr. Yashwant Kumar Daga were declared invalid for voting as their status is disputed and currently subjudice under dispute resolution. Item 2 (re-appointment of Shantanu Daga) was declared redundant after he resigned as Director effective 14th September 2025.
Routine AGM outcomes with no surprise rejections, but shareholders should note the ~11% dissent on the appointment of the new Whole-Time Director, indicating some shareholder reservations. The disqualification of 5.9 lakh disputed shares and the sudden resignation of a director just before the AGM may flag governance concerns worth monitoring.