Akshar Spintex approved the appointment of M/s. H. Jamnadas & Company as its statutory auditor for five years during its board meeting held on September 1, 2026. The firm will replace the retiring auditors, M/s. H. B. Kalaria & Associates, subject to shareholder approval at the upcoming annual general meeting.

The company also finalized key governance appointments and logistical arrangements for its 13th annual general meeting scheduled for September 28, 2026.

Auditor and Cost Audit Appointments

The board recommended the appointment of M/s. H. Jamnadas & Company (Firm Registration No. 104033W) as statutory auditor. The term begins from the conclusion of the ensuing annual general meeting and continues until the conclusion of the annual general meeting in 2031.

For the financial year ending March 31, 2027, the board approved remuneration of ₹36,000 plus applicable taxes and out-of-pocket expenses for M/s. Mitesh Suvagiya & Co., the cost auditor. This remuneration requires ratification by members at the annual general meeting under Section 148 of the Companies Act, 2013.

Director Remuneration and Re-appointments

The board approved several director-related proposals based on recommendations from the Nomination and Remuneration Committee:

• Mrs. Illaben Dineshbhai Paghdar: Remuneration up to ₹15,00,000 per annum for three years from October 1, 2026, to September 30, 2029.
• Mr. Harry D. Paghdar (Executive Director): Remuneration up to ₹12,00,000 per annum for three years from October 1, 2026, to September 30, 2029.
• Mr. Harikrushna Shamjibhai Chauhan (Chairman-cum-Whole Time Director): Re-appointment for three years from January 8, 2027, to January 7, 2030, with remuneration up to ₹30,00,000 per annum.

Mr. Parshotam Lakhabhai Vasoya is recommended for re-appointment as an Independent Director for a second and final term of five years, commencing September 28, 2026. Mr. Sureshkumar Chaturbhai Gajera is recommended for appointment as an Independent Director for five years starting from the date of the 13th AGM.

AGM Logistics and Compliance

The 13th annual general meeting will be conducted via video conferencing or other audio-visual means on September 28, 2026, at 1:30 pm. Remote e-voting through National Securities Depository Limited (NSDL) will be available from September 23, 2026, at 9:00 am to September 27, 2026, at 5:00 pm. The cut-off date for e-voting eligibility is September 21, 2026.

CS Dipali Vora (FCS 21254) was appointed as the scrutinizer for the voting process. The board also took note of the secretarial audit report for FY26 issued by M/s. D N Vora & Associates and approved the directors' report for the financial year ended March 31, 2026.

Akshar Spintex announced that Mr. Parshotam L. Vasoya ceased to serve as an independent director on August 22, 2026, marking the end of his tenure. The departure follows the natural expiration of his term rather than any voluntary resignation or removal.

The company filed disclosures under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and pursuant to SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. These filings confirm that Mr. Vasoya’s existing tenure concluded on August 22, 2026.

Board Composition and Succession

Akshar Spintex stated it will initiate the process to identify and evaluate a suitable candidate for appointment as an independent director. This action aims to ensure compliance with prescribed board composition requirements under the Companies Act, 2013 and SEBI listing regulations.

The company will make requisite disclosures to stock exchanges upon finalizing the new appointment. Harikrushna Shamjibhai Chauhan, Chairman cum Whole Time Director, signed the disclosure on behalf of the company.

Regulatory Details

The filing included specific details regarding the cessation event as required by Schedule III of the Listing Regulations:

The company expressed appreciation for the contributions rendered by Mr. Vasoya during his tenure. No relationships between directors or other listed entity appointments were disclosed for this cessation event.