Proceedings and Scrutinisers Report of the 61st Annual General Meeting (AGM) of Futura Polyesters Limited
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Futura Polyesters Limited held its 61st AGM on May 29, 2026 via video conferencing. The meeting was chaired by Mr. Shyam Ghia, with 34 members attending and 21 members casting their votes. Shareholders passed one ordinary resolution to adopt the audited financial statements for the year ended March 31, 2022. All 23,391,603 votes were cast in favor (100%) with zero votes against, resulting in unanimous approval. The meeting lasted only 10 minutes. The company noted that there were qualifications in the Statutory Auditors' and Secretarial Auditors' reports, but these were addressed in the Directors' Report. Notably, the company is adopting FY 2022 financials in 2026, which is a significant delay of approximately 4 years.
Shareholders have approved the adoption of financial statements for FY 2022 with unanimous support. While this is a positive indicator of shareholder alignment, the extremely delayed approval of FY 2022 accounts raises questions about corporate governance and timely financial reporting. The stock is listed on BSE with code 500720.