Classic Filaments Reshuffles Leadership, Approves Q2 Results, and Addresses Tax Matter

Classic Filaments Ltd , a prominent player in the textile industry, has announced significant changes in its leadership structure and approved its financial results for the quarter ended June 30, 2025. The company's Board of Directors made these decisions during a meeting held on July 30, 2025.

Leadership Changes

In a notable shift, the Board has approved the change in designation of Mr. Jayanti Gaudani from Managing Director to Whole-Time Director, effective July 30, 2025. This decision is subject to shareholder approval at the upcoming Annual General Meeting. Mr. Gaudani (DIN: 03571671), a promoter of Classic Filaments, brings with him a wealth of experience, having been associated with the company for the past 10 years and boasting over 17 years of expertise in the textile industry.

Mr. Gaudani is related to other promoter directors, including Mr. Bharat Patel and Mr. Amit Patel. His extensive experience and deep understanding of the textile sector are expected to contribute positively to the company's future growth and strategic direction.

Financial Results Approval

The Board has approved the unaudited financial results for the quarter ended June 30, 2025. While specific financial figures were not disclosed in the available information, this approval marks an important milestone in the company's fiscal calendar.

Ongoing Tax Matter

The company's auditors have highlighted an ongoing income tax assessment matter for the financial year 2018-19, related to alleged bogus purchases. However, the management maintains that these purchases are valid and does not anticipate any material impact on the current financial results.

Conclusion

As Classic Filaments navigates these changes and continues to address regulatory matters, stakeholders will be keenly watching how these developments influence the company's performance and strategic direction in the competitive textile industry landscape.