Reappointment of Whole Time Director and the Appointment of Secretarial Auditors and Internal Auditors
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The board of Facor Alloys Ltd approved three items at its May 20, 2025 meeting. First, Mr. Ashish Santosh Agrawal (DIN: 02148665) was reappointed as Whole-Time Director for another three-year term starting May 30, 2025, subject to shareholder approval. He brings over 35 years of experience in manganese alloys and is not part of the promoter or promoter group. Second, M/s. MT & Co. was appointed as Secretarial Auditor for a five-year term from April 1, 2025 to March 31, 2030, subject to shareholder approval. Third, M/s. Rao & Kumar, a Visakhapatnam-based Chartered Accountancy firm established in 1970, was appointed as Internal Auditor for one year from April 1, 2025 to March 31, 2026.
This is a routine governance announcement with no negative implications — the reappointment signals continuity in executive leadership, while the auditor appointments strengthen compliance oversight. Shareholders should note that the director reappointment and the 5-year secretarial auditor appointment will both require their approval at a general meeting.