Kritika Wires Limited has informed the Exchange regarding Outcome of Board Meeting held on August 14, 2025.
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Kritika Wires' board met on August 14, 2025 and approved several key items. The board approved the Board's Report for FY ending March 31, 2025, and revised remuneration for three directors: Managing Director Hanuman Prasad Agarwal (up to Rs. 60 lakhs p.a.), Naresh Kumar Agarwal (Rs. 20 lakhs), and Ankush Agarwal (Rs. 45 lakhs), all subject to shareholder approval. Two new Independent Directors were appointed: Mr. Joyjit Das and Mrs. Sarika Kedia, both for 5-year terms, to fill casual vacancies caused by the resignations of Mr. Niraj Jinal and Mr. Shiv Kumar Saraff. M/s. RSG & Associates was appointed as Secretarial Auditor for 5 years, and M/s. M. Kumar Jain & Co. was re-appointed as Internal Auditor for FY 2025-26. The 21st AGM is scheduled for September 24, 2025 via video conferencing.
The main concerns for shareholders are the resignations of two independent directors replaced within the same meeting, and significant hikes in promoter-family director remuneration (Hanuman Prasad Agarwal, Naresh Kumar Agarwal, Ankush Agarwal) that need shareholder approval at the upcoming AGM. The new independent director appointments strengthen board composition, pending shareholder ratification.