Appointment of Secretarial Auditor for a period of five years and approval of Related Party Transaction
Price
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Awaiting price reaction for this filing.
At the AGM held on September 30, 2025, shareholders approved the re-appointment of Mr. Singaravelou as Non-Executive Director and Ms. Deepti Mantri as Whole-Time Director. The company also appointed M/s NRG Associates as Statutory Auditor and Mr. V P Rajeev as Secretarial Auditor, both for a five-year term covering FY 2025-26 to FY 2029-30. Additionally, shareholders approved a material related party transaction with FSH Business Ventures Private Limited, involving sale of services and expenses valued at Rs. 15 crore per year (~15% of annual consolidated turnover) for three financial years starting FY 2025-26. The transaction involves multiple company directors — Mr. Wilfred Selvaraj (MD), Ms. Wilfred Padma, Mr. Ramesh Raja, Mr. Sivaji, and Mr. Singaravelou — who are also directors in FSH.
This is routine governance housekeeping for a recently listed small-cap, but shareholders should note the related party transaction is sizable at ~15% of turnover and involves directors on both sides, which warrants careful review of the terms to ensure arm's-length pricing and no value leakage to promoter-related entities.