Approve the appointment of Executive Chairman and re-designation from Whole-time Director to Managing Director and appointment of Secretarial Auditor.
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At the 53rd AGM held on September 29, 2025, shareholders approved three key changes. Mr. Narendra Kumar Pasari (on the board since 1974) was appointed as Whole-time Director designated as Executive Chairman for 3 years (Aug 22, 2025 to Aug 21, 2028). His son, Mr. Naynesh Pasari, was re-designated from Whole-time Director to Managing Director for his remaining term ending August 9, 2026. Both directors hold 1,000 shares each in the company. Additionally, M/s BLAK & Co. (led by Mrs. Archana Bansal, practicing company secretary) was appointed as Secretarial Auditor for a 5-year first term covering FY 2025-26 to FY 2029-30.
This is a consolidation of promoter family control at the top, with father and son now occupying the two most powerful board positions. While the appointments were approved by shareholders and follow regulatory norms, the lack of independent or external leadership at the top reinforces the family-run nature of the business — a factor investors typically monitor for governance diversity.