Change in Directorate of the Company
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Pasupati Spinning & Weaving Mills Ltd has informed BSE that its Board has approved the re-appointment of Mr. Ramesh Kumar Jain as Managing Director for a fresh five-year term from April 1, 2025 to March 31, 2030. The re-appointment was triggered because Mr. Ramesh Kumar Jain will turn 70 years old on October 24, 2025, requiring a formal continuation approval under company rules. The decision, based on the recommendation of the Nomination and Remuneration Committee, is subject to shareholder approval at the upcoming Annual General Meeting. The company also confirmed that Mr. Jain is not debarred by SEBI or any other authority from holding a directorship. Notably, Mr. Ramesh Kumar Jain is the father of Mr. Vidit Jain, the current Whole-Time Director who signed the disclosure.
This is a continuity announcement rather than a leadership change, signalling stability in management but reinforcing promoter-family control of the company, as both the MD and WTD positions are held by members of the same family. Investors should watch the AGM for any shareholder dissent on the re-appointment.