Mahalaxmi Fabric Mills Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 23, 2025
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Mahalaxmi Fabric Mills Limited has notified the stock exchanges that its 34th Annual General Meeting (AGM) will be held on Saturday, August 23, 2025, at 2:30 PM via Video Conferencing (VC/OAVM). Key items on the agenda include adoption of the audited financial statements for FY ended March 31, 2025, re-appointment of Shri Rahul J. Parekh as Director (retiring by rotation), and appointment of M/s. Jain Chowdhary & Co. as the new Statutory Auditors for a 5-year term (2025–2030), replacing M/s. Bhanwar Jain & Co. who resigned on May 9, 2025 citing delays in obtaining the mandatory ICAI Peer Review Certificate. The notice also seeks shareholders' approval for re-appointing M/s. Malay Desai & Associates as Secretarial Auditor for FY 2025-26 to FY 2029-30, and for a special resolution to continue Mr. Jeetmal B. Parekh as Non-Executive Director despite having crossed the age of 75 years. Remote e-voting will be open from August 20 to August 22, 2025, with the cut-off date set as August 16, 2025.
Routine AGM notice with a notable change in statutory auditors (resignation due to regulatory certification delays) and continuation of a 75+ year old promoter director requiring a special resolution. No material impact on stock price is expected, but shareholders should review and vote on the resolutions, particularly the auditor change and the continuation of the senior director.