Lagnam Spintex Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on July 23, 2025
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Lagnam Spintex Limited has notified the NSE about its 15th Annual General Meeting (AGM) scheduled for Wednesday, July 23, 2025 at 11:30 AM IST, to be held via video conferencing. Along with the AGM notice, the company has submitted its Annual Report for FY 2024-25. Shareholders can vote electronically between July 19, 2025 (9:00 AM) and July 22, 2025 (5:00 PM), with the cut-off date being July 16, 2025. Key business items include adoption of audited financial statements, re-appointment of Sh. Shubh Mangal as director, ratification of cost auditor remuneration of Rs. 50,000 for FY 2025-26, and approval of continuation of remuneration for Managing Director Anand Mangal (Rs. 5.20 lakh/month basic salary) and Executive Director Shubh Mangal for their remaining tenures. The company is also seeking approval to appoint M/s Sanjay Somani & Associates as Secretarial Auditors for a 5-year term from FY 2025-26 to FY 2029-30.
Shareholders should review the resolutions and exercise their voting rights during the e-voting window (July 19-22, 2025). The remuneration continuation proposals for the MD and ED are special resolutions requiring shareholder approval, with potential implications on executive pay exceeding standard limits under Section 197/198 of the Companies Act. The appointment of a new secretarial auditor for 5 years signals long-term governance continuity.