Pasupati Spinning approves director appointments and continuations at AGM
- Pasupati Spinning & Weaving Mills Ltd held its 46th AGM on September 30, 2026
- Shareholders approved the appointment of Bhim Sain Goyal as Non-Executive Independent Director for five years
- Special resolutions passed to continue Chander Mohan Sharma and Anil Kumar Jain beyond statutory age limits
- Audited financial statements for FY26 were adopted by the members
*this image is generated using AI for illustrative purposes only.
Pasupati Spinning & Weaving Mills Ltd held its 46th Annual General Meeting on September 30, 2026, at its registered office in Haryana. Shareholders adopted the audited financial statements for the fiscal year ended March 31, 2026.
The meeting commenced at 11:00 am and concluded at 11:50 am. A total of 42 shareholders attended in person, including four body corporate representatives. No shareholders participated via proxy. The quorum was present throughout the proceedings.
Key resolutions passed
Shareholders approved several ordinary and special resolutions during the meeting. The primary agenda items included the adoption of financial reports and the reappointment of directors retiring by rotation. Significant governance changes were also ratified, focusing on board composition and tenure extensions.
| Resolution | Type | Details |
|---|---|---|
| Adoption of Financial Statements | Ordinary | Audited statements for FY26 and Board/Auditor reports |
| Director Reappointment | Ordinary | Vidit Jain (DIN: 01347588) retiring by rotation |
| Cost Auditor Remuneration | Ordinary | Ratification for FY27 |
| Related Party Transactions | Ordinary | Approval of transactions |
| Director Continuation | Special | Chander Mohan Sharma (DIN: 08047336) beyond age 70 |
| Director Continuation | Special | Anil Kumar Jain (DIN: 00141322) beyond age 75 |
| New Director Appointment | Special | Bhim Sain Goyal (DIN: 02139510) as Independent Director |
| MoA Amendment | Special | Amendment to main objects of Memorandum of Association |
Board composition updates
The shareholders passed special resolutions to extend the tenures of two senior directors and appoint a new independent member to the board. These changes ensure continuity in leadership while introducing fresh expertise in corporate law and management consultancy.
Chander Mohan Sharma, serving as Whole Time Director, will continue his role upon attaining the age of 70 years on December 13, 2026. His current term is scheduled to expire on December 19, 2027. He brings pioneer experience in managing operations and production segments.
Anil Kumar Jain, an Independent Director, will continue his role upon attaining the age of 75 years on January 9, 2027. His term extends until August 13, 2029. He is an associate member of both the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India.
Bhim Sain Goyal was appointed as a Non-Executive Independent Director for a period of five consecutive years, effective from August 12, 2026, to August 11, 2031. A Fellow member of the Institute of Company Secretaries of India, he has experience in management consultancy, corporate legal, and advisory services with an emphasis on corporate laws. None of the three directors are related to any other director of the company.
Voting and attendance details
The company provided remote e-voting facilities through the National Securities Depository Limited from September 27 to September 29, 2026. Shareholders attending the meeting who had not voted electronically cast their votes via ballot papers. Ms. Mayuri Sinha, Practicing Company Secretary, served as the scrutinizer to supervise the voting process.
The results of the remote e-voting and ballot paper votes will be declared within two working days. These results will be uploaded on the company website and communicated to stock exchanges where the shares are listed.
Management address
Managing Director Ramesh Kumar Jain chaired the meeting and addressed the shareholders. He provided an overview of the company's performance for FY26 and the first quarter of FY27. The Chairman highlighted challenges posed by global uncertainties, political tensions, and economic volatility, while also discussing future prospects and company initiatives.
Key managerial personnel present included Chief Financial Officer Ajay Kumar Monga and Company Secretary Deepika Malhotra. Statutory auditors B K Shroff & Co were represented by partner Sanjiv Aggarwal.
Historical Stock Returns for Pasupati Spinning & Weaving Mills
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.32% | 0.0% | +0.29% | +34.10% | +2.73% | +66.11% |
How will the appointment of Bhim Sain Goyal, with his corporate law and consultancy background, specifically influence Pasupati Spinning's governance framework and risk management strategies in the coming fiscal year?
What specific strategic pivots or capital expenditure plans did Managing Director Ramesh Kumar Jain outline to mitigate the impact of global political tensions and economic volatility on the company's FY27 outlook?
Given the extension of senior leadership tenures beyond statutory age limits, what succession planning mechanisms is the board implementing to ensure long-term operational continuity?
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