The 75th Annual General Meeting of the Company will be held on Wednesday, 24th September, 2025 at the registered office of the company. The notice of the AGM is enclosed in the document ....
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Trade Wings Ltd has called its 75th Annual General Meeting on Wednesday, 24th September 2025 at 10:30 AM at its registered office in Panaji, Goa. Ordinary business includes adopting audited standalone and consolidated financial statements for FY ended March 31, 2025, re-appointing Mr. Hemant R Panchal (who retires by rotation), and appointing M/s A N Shah & Associates as Statutory Auditor for 5 years (till FY 2029-30). Special business includes re-appointing Dr. Shailendra P. Mittal (age 72) as Chairman and Managing Director for five years from May 30, 2025 to May 29, 2030. The company is seeking shareholder ratification of remuneration already paid to directors for FY24-25 (Dr. Mittal: Rs 14.40 lakhs, Ms. Jacinta Nayagam: Rs 5.40 lakhs, Mr. Hemant Panchal: Rs 7.62 lakhs), and approval of new proposed remuneration (Dr. Mittal: Rs 10 lakhs/month, Ms. Nayagam: Rs 60,000/month, Mr. Panchal: Rs 80,000/month). FY24 turnover stood at Rs 21,244.47 lakhs with a net profit of Rs 57.21 lakhs, up from Rs 5.76 lakhs the previous year, though the company notes it is still recovering from COVID-19 era losses.
Investors should note that the FY24-25 remuneration was paid without prior shareholder approval and is now being ratified, which could be a governance red flag. The proposed increase in Dr. Mittal's remuneration to Rs 10 lakhs/month (around Rs 1.2 crore annually) is substantial and requires special resolution approval. The re-appointment of the 72-year-old MD for five years and renewal of auditor tenure are routine items.