OUTCOME OF BOARD MEETING HELD ON FRIDAY, 04TH JULY, 2025
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Gujarat Toolroom Ltd held a board meeting on 4th July 2025 that resulted in three key decisions. First, the board accepted the resignation of statutory auditor M/s K M Chauhan & Associates (FRN 125924W), who stepped down due to pre-occupation effective 6th June 2025, well before their term was set to expire at the 44th AGM. The audit committee confirmed the auditors raised no concerns or issues. Second, M/s. R B Gohil & Co, Chartered Accountants (FRN 119360W) was appointed to fill the casual vacancy until the next general meeting. Third, Mr. Manjotsingh Surjitsingh Oberoi was appointed as Chief Executive Officer with effect from 4th July 2025, bringing over 25 years of cross-industry experience.
The mid-term auditor change is largely procedural as the outgoing auditor flagged no concerns, but shareholders may want clarity on what 'pre-occupation' means. The new CEO appointment brings fresh leadership with diverse industry experience, which could influence the company's strategic direction going forward.