Appointment of Internal Auditor
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The board of Lakshmi Electrical Control Systems met on June 5, 2025 and cleared several items. The 44th Annual General Meeting (AGM) is set for August 25, 2025, with the Register of Members closed from August 19 to 25, 2025. The record date for e-voting and dividend eligibility is August 18, 2025, tied to the earlier-recommended dividend of Rs. 4 (40%) per equity share on a Rs. 10 face value for FY ended March 31, 2025. Two new directors were appointed: Sri. Sudesh Koti Reddy as a Non-executive Independent Director (5-year first term) and Sri. Vedhanth Senthilkumar as a Non-executive Non-Independent Director. Sri. Arjun Balu's re-appointment as Independent Director for a second 5-year term was recommended. Non-executive Director Sri. Sanjay Jayavarthanavelu is retiring at the AGM and is not seeking re-appointment; the board will not fill the resulting vacancy. Cost Auditor S. Subbaraman and Internal Auditor V.C. Tirupathi were re-appointed, and MOS & Associates LLP was recommended as Secretarial Auditor for 5 years.
Routine governance housekeeping with no negative surprises. Shareholders get clarity on the Rs. 4 dividend timeline and AGM agenda. The new non-independent director (Vedhanth Senthilkumar) is related to the CMD and another director, indicating promoter-family continuity on the board. The retiring director's vacancy will remain unfilled, slightly shrinking board size.