Jet Freight Logistics Limited has informed the Exchange regarding Board meeting held on August 28, 2025.
JETFREIGHT · price
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Jet Freight Logistics Limited held a board meeting on August 28, 2025 lasting about 20 minutes. The board appointed M/s. Ajay Shobha & Co., Chartered Accountants as the new Statutory Auditor to fill a casual vacancy caused by the resignation of the previous auditor GMCS & Co. The same firm was also proposed as Statutory Auditor for a full 5-year term from the 19th AGM to the 24th AGM, pending shareholder approval. Additionally, the company altered its Object Clause in the Memorandum of Association to significantly widen its permitted business activities, adding general trading across goods like automobile parts, textiles, electronics, food products, and e-commerce/digital platforms alongside its core logistics business.
The mid-term auditor switch may raise short-term governance questions, but the new auditor is an established firm with nearly four decades of experience. The expanded MOA signals potential diversification beyond pure logistics into trading and e-commerce, which could broaden revenue opportunities but also introduces execution risk into unrelated business areas.