Svarnim Trade Udyog Limited has released the scrutinizer report for its 44th Annual General Meeting (AGM) held on September 7, 2026. The meeting saw the passage of ordinary resolutions regarding financial statements and auditor appointments, while special resolutions for new director appointments and a registered address change were rejected by shareholders.

The AGM was conducted via Video Conferencing/Other Audio-Visual Means (VC/OAVM) with remote e-voting facilitated by National Securities Depository Limited (NSDL). Voting rights were determined based on shareholding as on the cut-off date of August 31, 2026. A total of 27 votes were polled from public non-institutional shareholders holding 2,431,500 shares, representing 0.0011% of outstanding shares. No votes were cast by promoters or public institutions.

Resolution Outcomes

The scrutinizer, M/s Jitendra Parmar & Associates, confirmed that no invalid votes were recorded. The consolidated results for the seven resolutions placed before the members are detailed below:

All resolutions received identical voting patterns: 16 votes in favour (59.26%) and 11 votes against (40.74%). While this majority was sufficient for ordinary resolutions, it did not meet the threshold required for special resolutions, which typically mandate a higher approval ratio (often 75%).

Board Changes Following AGM Results

The failure of the special resolutions directly impacted the board composition announced in a subsequent disclosure. Mr. Gulshan Kumar Aggarwal and Ms. Nidhi Bansal ceased to hold office with effect from September 7, 2026, due to the non-approval of their appointment resolutions at the AGM.

Consequently, the board appointed Ms. Sangeeta Aggarwal as Additional Non-Executive and Non-Independent Director cum Chairperson, effective September 8, 2026. She is the mother of Ms. Surbhi Aggarwal, the company’s Whole-time Director, who was successfully re-appointed by rotation.

Mr. Parin Shirishkumar Bhavsar was also inducted as an Independent Director, subject to shareholder approval in a future general meeting. His appointment complements the reconstitution of key board committees effective September 8, 2026:

Ms. Chiranggi Rahul Goud, a Non-Executive and Independent Director, now chairs both the Audit and Nomination and Remuneration Committees.

Svarnim Trade Udyog Limited has disclosed that M/s. B B Gusani & Associates has resigned from its role as Internal Auditor, effective August 11, 2026. The firm attributed the decision to pre-occupation with other professional assignments, a standard operational shift that requires the company to appoint a successor to maintain compliance with statutory audit requirements.

The resignation was communicated to the Board of Directors on August 11, 2026, by Bhargav Gusani, Proprietor of M/s. B B Gusani & Associates. In a letter dated August 11, 2026, the firm thanked the senior management for the opportunity and cooperation extended during their tenure. The company subsequently intimated the stock exchanges regarding the change in internal audit function.

Regulatory Disclosures

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The company confirmed that M/s. B B Gusani & Associates stated there were no other material reasons for the resignation beyond those explicitly mentioned in the resignation letter.

Company Response

Surbhi Aggarwal, Whole-time Director of Svarnim Trade Udyog Limited, signed the intimation to the Bombay Stock Exchange and the Metropolitan Stock Exchange of India Limited on August 12, 2026. The filing included Annexure A, which detailed the specific reasons for the change and confirmed the absence of any undisclosed material issues between the firm and the company.

What This Means for Compliance

The departure of an internal auditor necessitates the prompt appointment of a replacement to ensure continuous oversight of the company’s financial controls and compliance mechanisms. While the reason cited is professional workload management rather than a dispute or governance issue, shareholders should monitor subsequent filings for the appointment of a new internal auditor to ensure no gap in audit coverage.