Lakhotia Polyesters (India) Limited Lakhotia Polyesters has appointed Murli Harishkumar Lakhotia as an additional director in the capacity of a non-executive, non-independent director. The appointment takes effect from August 18, 2026, following approval by the company’s Board of Directors during its meeting held on August 17, 2026.

The board also accepted the resignation of Ashokkumar Gulabchand Khajanchi from the position of Executive Director, effective August 18, 2026. Khajanchi cited personal reasons and unavoidable circumstances for his departure, confirming there were no other material reasons for the resignation.

Board Changes and Auditor Appointment

In addition to the directorship changes, the board addressed a casual vacancy in the office of the statutory auditor. Based on the recommendation of the Audit Committee, the company appointed M/s. Praveen Purohit & Associates, Chartered Accountants, as its new statutory auditors. This appointment replaces M/s. Sharp Arth & Co LLP, Chartered Accountants, who resigned from the role.

Both the appointment of Mr. Lakhotia and the new statutory auditors are subject to approval by the members of the company at the forthcoming Annual General Meeting (AGM).

Key Details

Mr. Lakhotia holds an MBA degree and possesses substantial business experience with a keen interest in international trade. He is related to Managing Director Madhusudan Shamsundar Lakhotiya and Mrs. Jayshri Madhusudan Lakhotiya.

Upcoming Corporate Events

The company has decided to hold its 21st Annual General Meeting on Monday, September 21, 2026. The board meeting commenced at 4:30 pm and concluded at 5:00 pm on August 17, 2026. All disclosures were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Futura Polyesters Limited has scheduled its Extraordinary General Meeting (EGM) for August 26, 2026, to seek shareholder approval for extending the redemption of its 9% Non-Cumulative Redeemable Preference Shares until September 2030. The meeting, held via Video Conferencing or Other Audio-Visual Means (OAVM), will also ratify the appointment of Dhvani M Shah & Associates as Statutory Auditors. This deferral of ₹19.89 crore in principal repayments preserves liquidity, with remote e-voting commencing on August 23, 2026.

The Board of Directors approved these resolutions on August 3, 2026. The preference shares, originally issued on September 17, 2010, were due for redemption on September 17, 2025. The extension pushes this date to September 17, 2030, while maintaining the 9% dividend rate. Prior approval was obtained from preference shareholders via written consent under Section 48 of the Companies Act, 2013. Equity shareholders will vote via a Special Resolution.

Auditor Appointment

Dhvani M Shah & Associates (FRN: 161963W) replaces V.S. Somani & Co., whose term expired. The new auditor’s term begins from the conclusion of the August 3 Board Meeting and lasts until the next Annual General Meeting. Remuneration is fixed at ₹5,00,000 plus applicable taxes and out-of-pocket expenses. Dhvani M Shah leads the firm and holds two years of post-qualification experience. The firm confirmed it is not debarred by SEBI or other authorities.

EGM and Voting Details

The EGM will be held on Wednesday, August 26, 2026, at 11:00 a.m. IST. The cut-off date for voting eligibility is August 19, 2026. Remote e-voting is available from August 23, 2026, at 9:00 a.m. IST until August 25, 2026, at 5:00 p.m. IST. CDSL serves as the e-voting service provider. Mr. Martinho Ferrao of Martinho Ferrao & Associates (FCS 6221) is appointed as Scrutinizer. Results will be declared within 48 hours of the meeting’s conclusion.

What the Numbers Show

The five-year extension defers a significant cash outflow, aiding short-term liquidity management. Since the preference shares are held by promoter-controlled entities, Chairman and Managing Director Shyam B. Ghia is deemed interested in the resolution. This structure suggests the move facilitates internal group financial planning without impacting external creditors. The constant dividend rate ensures the cost of capital remains unchanged, though the principal liability is postponed.