This is to inform that the Board of Directors at their meeting held today, have inter alia, approved:(i) proposal to appoint Mr. Vikram Taranath Hosangady (DIN:09757469) as an Independent Director for 5 years with effect from May 28, 2025.(ii) proposal to appoint M/s. BSR & Co., LLP, Chartered Accountants, as Statutory Auditors for second term for 5 years.(iii)proposal to appoint M/s. B. Chandra & Associates, Practising Company Secretary, as Secretarial Auditors for 5 years.(iv) proposal to appoint M/s. Jayaram & Associates, Cost Accountants as Cost Auditor for FY 2024-25.
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The Board of Directors of Rane (Madras) Limited approved several appointments at its meeting. Mr. Vikram Taranath Hosangady (DIN: 09757469) has been proposed as an Independent Director for a 5-year term starting May 28, 2025. BSR & Co., LLP, Chartered Accountants, have been proposed as Statutory Auditors for a second consecutive 5-year term. B. Chandra & Associates has been proposed as Secretarial Auditors for 5 years, and Jayaram & Associates has been proposed as Cost Auditor for FY 2024-25. All appointments are subject to shareholder approval as applicable.
These are routine governance and audit-related appointments with no immediate material impact on shareholders. The reappointment of BSR & Co. for a second term suggests continuity in audit oversight, while the new Independent Director adds to board composition. No direct effect on stock price is expected.