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.

Soni Shailesh Karwa has resigned from the position of Company Secretary and Compliance Officer at Laxmi Cotspin Limited , effective from the close of business hours on June 1, 2026. The resignation was submitted due to personal and professional commitments, with no material reasons cited for the departure.

In the resignation letter addressed to the Board of Directors, Karwa requested that the resignation be accepted and recorded. The outgoing officer also urged the company to file the necessary forms and intimations with the Registrar of Companies, Stock Exchange(s), and other regulatory authorities as required.

Karwa expressed gratitude to the Board, management, and colleagues for their support and cooperation during the tenure. The company is now expected to initiate the process of appointing a new Company Secretary and Compliance Officer to ensure continued regulatory compliance.

Resignation Details