Jet Freight Logistics Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 25, 2025. Further, the company has submitted the Exchange a copy of Srutinizers report.
JETFREIGHT · price
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Jet Freight Logistics Limited held its 19th AGM on September 25, 2025 via video conferencing, with 51 shareholders (7 promoters, 44 public) attending out of 23,347 shareholders on record. All 11 resolutions were passed with the required majority. Six ordinary resolutions — including adoption of standalone and consolidated FY25 financial statements, re-appointment of Mrs. Agnes Theknath as director, appointment of statutory and secretarial auditors — were passed with nearly 100% support. Five special resolutions covering waiver of recovery of excess managerial remuneration paid to CMD Mr. Richard Francis Theknath and Executive Director Mr. Dax Francis Theknath, revision in their remuneration, and alteration of the Object Clause of the Memorandum of Association were passed with 98.90% in favour and 1.10% against votes.
Shareholders approved the waiver of recovery of excess managerial remuneration paid to the Chairman & Managing Director and Executive Director during FY25, which signals that the company overpaid its promoters and has now sought shareholder approval to write it off. The alteration of the Object Clause points to potential diversification or expansion into new business areas. Minority investors may view the remuneration waivers and pay hikes cautiously given that about 1.10% of votes were against these special resolutions.