Laxmi Cotspin Limited announced on July 17, 2026, that its shareholders have approved the appointment of a new statutory auditor and the regularisation of a director through a remote e-voting process. The resolutions were passed with a requisite majority during the postal ballot conducted between June 17 and July 16, 2026. These approvals ensure the continuation of the company's audit oversight and governance structure following a casual vacancy in the auditor's position.

The postal ballot process was managed by scrutinizer Piyush Agrawal, a practicing Chartered Accountant appointed by the Board on June 11, 2026. The remote e-voting facility, provided by the National Securities Depository Limited (NSDL), was open from 9:00 a.m. on June 17, 2026, until 5:00 p.m. on July 16, 2026. The total number of shareholders eligible to vote as on the cut-off date of June 5, 2026, was 7,890.

The first resolution sought approval for the appointment of Ms. Singh Mundada and Associates (FRN: 122059W) as Statutory Auditors to fill the casual vacancy caused by the resignation of the existing auditors. The second resolution concerned the regularisation of Mrs. Sharda Ghansham Sikchi (DIN: 11683795) as a Non-Executive Women Director of the company.

Voting Results

Both resolutions were passed with an overwhelming majority. The total votes polled for the first resolution were 2,933,132, with 99.80% cast in favour and 0.20% against. The second resolution saw 2,933,511 votes polled, with 99.80% in favour and 0.20% against. Promoters and the promoter group participated fully in the e-voting, casting all their votes in favour of both resolutions.

The scrutinizer's report confirmed that the voting process was conducted in a fair and transparent manner, witnessed by two individuals not employed by the company or NSDL. The results have been submitted to the National Stock Exchange of India Limited and are available on the company's website.

Laxmi Cotspin Ltd has initiated a postal ballot process to fill a casual vacancy in the office of its statutory auditors and to regularise the appointment of a director. The company is seeking shareholder approval to appoint M/s. Singh Mundada & Associates, Chartered Accountants (FRN: 122059W), as statutory auditors following the resignation of M/s. DMKH & Co., Chartered Accountants, effective May 26, 2026. Additionally, the board proposes the regularisation of Mrs. Sharda Ghansham Sikchi (DIN: 11683795) as a Non-Executive Woman Director.

The resignation of the previous auditor did not cite any concerns affecting the company's financial reporting or audit process. The new auditors, M/s. Singh Mundada & Associates, have confirmed their eligibility and consent to act, holding office from the date of member approval until the conclusion of the ensuing Annual General Meeting. Mrs. Sharda Ghansham Sikchi was initially appointed as an Additional Director on April 30, 2026, and brings experience in cotton ginning operations, including raw cotton procurement and quality grading.

Postal Ballot and E-voting Schedule

The company has engaged National Securities Depository Limited (NSDL) to facilitate the remote e-voting process. The resolutions will be deemed passed if approved by the requisite majority by the conclusion of the voting period. Shareholders holding shares as of the cut-off date are eligible to vote.

Resolutions for Shareholder Approval

The postal ballot notice outlines two key resolutions requiring shareholder consent. The first concerns the appointment of the statutory auditors to fill the casual vacancy, while the second seeks to regularise Mrs. Sharda Ghansham Sikchi as a director liable to retire by rotation.

CA Piyush Agrawal has been appointed as the Scrutinizer to oversee the e-voting process. The notice has been dispatched to members electronically in compliance with Ministry of Corporate Affairs circulars, and physical copies have not been issued. The results of the postal ballot will be intimated to the National Stock Exchange of India Limited and uploaded on the company’s website.