The notice of extra-ordinary general meeting of the company to be held on 10th May, 2025 at 11:00 a.m. at Swaad Mantra Hotels and Restaurants
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Awaiting price reaction for this filing.
Garment Mantra Lifestyle Limited has called an Extra-Ordinary General Meeting on Saturday, 10th May 2025 at 11:00 a.m. at Swaad Mantra Hotels and Restaurants, Tirupur. Three special business items will be transacted. First, shareholders will vote on the re-appointment of Mr. Prem Aggarwal as Managing Director for another 5-year term (23.03.2025 to 22.03.2030) with a monthly remuneration not exceeding Rs. 1,50,000. Second, Mrs. Shikha Aggarwal is proposed to be re-appointed as Whole-Time Director for another 5-year term at a monthly remuneration not exceeding Rs. 1,00,000. Third, the appointment of Mr. S. Babu, who was inducted as an Additional Director in March 2025, will be regularised as Independent Director for 5 consecutive years (10.05.2025 to 09.05.2030). The company has enabled remote e-voting through Bigshare Services from 7th May to 9th May 2025, with the cut-off date set at 3rd May 2025.
The resolutions are largely routine and family-connected: the promoter MD and his wife (Whole-Time Director) are up for renewal, alongside a fresh Independent Director onboard. Approvals are expected to pass given the nature of the items, so short-term stock price reaction is unlikely. Shareholders should check that remuneration levels remain reasonable and that board independence is maintained with the addition of Mr. S. Babu.