Lagnam Spintex Limited has informed the Exchange about Proceedings of the 15th Annual General Meeting
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Lagnam Spintex Limited held its 15th AGM on July 23, 2025, via video conferencing from 11:30 AM to 12:31 PM IST, attended by 64 members virtually. Six resolutions were put to vote: adoption of FY25 audited financial statements, re-appointment of Shubh Mangal as Director (retiring by rotation), ratification of Cost Auditors' remuneration for FY26, continuation of remuneration for Managing Director Anand Mangal (April 2026 to March 2028) and Executive Director Shubh Mangal (Feb 2026 to Feb 2028), and appointment of Secretarial Auditors. Chairman D.P. Mangal recused himself from items 2, 4, and 5 due to conflict of interest, with Independent Director J.C. Laddha chairing those resolutions. The Chairman discussed FY25 performance of the spinning textile business in India and overseas, citing cotton price volatility and geopolitical developments as key factors. The Scrutinizer will submit the combined voting report within 2 working days, and the AGM transcript will be posted on the company's website.
This is a routine compliance filing confirming the AGM was conducted. Investors should track the voting results expected within 2 days, especially the special resolutions on continuation of remuneration for promoter-directors Anand Mangal and Shubh Mangal, which signal confidence in retaining current management terms.