Akshar Spintex Limited has announced a significant change in its corporate structure with the appointment of Miss Namrata Jagdishbhai Seta as the new Company Secretary and Compliance Officer. The decision was made during a board meeting held on October 18, 2025, at the company's registered office in Jamnagar, Gujarat.

Key Appointment Details

Professional Background

Miss Seta brings a wealth of experience to her new role at Akshar Spintex Limited:

• Education: Bachelor of Commerce, Company Secretary qualification
• Experience: Over 9 years of practicing experience
• Expertise: Corporate Laws, Corporate Governance, and SEBI-related matters
• Professional Affiliation: Associate member of the Institute of Company Secretaries of India

Appointment Process and Compliance

The appointment of Miss Seta was conducted in accordance with regulatory requirements:

1. Recommended by the Nomination and Remuneration Committee
2. Approved by the Board of Directors
3. Complies with Section 203 of the Companies Act, 2013
4. Fulfills requirements of Regulation 6(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Corporate Governance Implications

This appointment underscores Akshar Spintex Limited's commitment to maintaining strong corporate governance practices. As the Company Secretary and Compliance Officer, Miss Seta will play a crucial role in ensuring the company's adherence to regulatory standards and in facilitating effective communication between the company, its board, and its stakeholders.

The addition of Miss Seta to the company's leadership team is expected to strengthen Akshar Spintex Limited's corporate secretarial functions and enhance its compliance framework.

Conclusion

The appointment of Namrata Jagdishbhai Seta as Company Secretary and Compliance Officer marks an important step for Akshar Spintex Limited in reinforcing its corporate governance structure. With her extensive experience in corporate laws and SEBI-related matters, Miss Seta is well-positioned to contribute to the company's regulatory compliance and corporate affairs management.

Akshar Spintex Limited , a textile company listed on both BSE and NSE, faced a significant setback as shareholders voted down two key appointments at its Annual General Meeting (AGM) held on August 25, 2025. The rejections included the proposed appointments of Harry Dineshbhai Paghdar as Managing Director and Sureshkumar C. Gajera as Independent Director.

Failed Appointment of Managing Director

The Board of Directors had initially appointed Harry Dineshbhai Paghdar as an Additional Director and Managing Director on May 21, 2025. However, this appointment required shareholder approval at the AGM. The special resolution for Paghdar's appointment as Managing Director did not pass, leaving the position vacant after August 25, 2025.

Mr. Paghdar, notably the son of Mrs. Illaben D. Paghdar, who serves as a Director of Akshar Spintex, was poised to take on a significant role in the company's leadership. The familial connection might have been a factor in the shareholders' decision, although the specific reasons for the rejection were not disclosed.

Rejection of Independent Director Appointment

In a parallel development, the special resolution for the appointment of Sureshkumar C. Gajera as an Independent Director also failed to secure the necessary votes at the AGM. Gajera had been appointed as an Additional Director in the category of Independent Director by the Board on May 21, 2025, the same day as Paghdar's appointment.

Company's Response

Following these unexpected outcomes, Akshar Spintex Limited stated that it would continue to assess and evaluate potential candidates for both the Managing Director and Independent Director positions. The company has committed to keeping the stock exchanges informed of any further developments or decisions regarding these crucial appointments.

Implications for Corporate Governance

The rejection of both appointments at the AGM highlights the active role of shareholders in Akshar Spintex's corporate governance. It underscores the importance of shareholder approval in key management decisions and demonstrates that investors are exercising their voting rights to influence the company's leadership structure.

Harikrushna Shamjibhai Chauhan, the Chairman cum Whole Time Director of Akshar Spintex Limited, signed the official communications to the stock exchanges regarding these developments. The company will now need to navigate the challenges of filling these important positions to ensure stable leadership and maintain investor confidence.

As Akshar Spintex moves forward, the focus will be on how quickly and effectively the company can resolve these leadership gaps and the potential impact on its operations and strategic direction in the competitive textile industry.