Cranex Limited Appoints Avinash Prabhat as Independent Director for Five-Year Term
Cranex Limited has appointed Mr. Avinash Prabhat as a Non-Executive Independent Director for a five-year term from May 20, 2025, to May 20, 2030. The appointment was approved by shareholders at the company's 50th AGM. Mr. Prabhat, 29, is a qualified Company Secretary with expertise in Corporate Law and SEBI Laws. The resolution passed with 99.32% votes in favor. This appointment aims to strengthen Cranex Limited's corporate governance practices.
*this image is generated using AI for illustrative purposes only.
Cranex Limited has announced the appointment of Mr. Avinash Prabhat as a Non-Executive Independent Director, following shareholder approval at the company's 50th Annual General Meeting (AGM). The appointment, effective from May 20, 2025, is for a five-year term ending on May 20, 2030.
Director Profile
Mr. Prabhat, aged 29, brings a wealth of experience to the Cranex Limited board. He is a qualified Company Secretary with a B.Com degree and over five years of expertise in Corporate Law, Companies Act, SEBI Laws, and related legal matters. His appointment is expected to strengthen the company's corporate governance practices.
Appointment Details
The appointment of Mr. Prabhat (DIN: 10997441) was initially made on May 20, 2025, as an additional Director in the capacity of an Independent Director. This appointment was subsequently regularized at the 50th AGM held on September 29, 2025, where shareholders approved his position for a full five-year term.
Voting Results
The resolution for Mr. Prabhat's appointment as an Independent Director was passed with a significant majority. The voting results from the AGM show:
| Category | Votes in Favor | Votes Against | % in Favor |
|---|---|---|---|
| Promoter and Promoter Group | 3,125,345 | 0 | 100.00% |
| Public - Non Institutions | 90,028 | 21,947 | 80.40% |
| Total | 3,215,373 | 21,947 | 99.32% |
Corporate Governance Implications
Mr. Prabhat's appointment aligns with Cranex Limited's commitment to maintaining a strong and independent board. The company has confirmed that Mr. Prabhat is not related to any existing director on the board, ensuring his independence in decision-making processes.
Regulatory Compliance
In compliance with regulatory requirements, Cranex Limited has affirmed that Mr. Prabhat has not been debarred from holding directorial positions by SEBI or any other authority. This appointment adheres to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The addition of Mr. Avinash Prabhat to Cranex Limited's board is expected to bring fresh perspectives and strengthen the company's corporate governance framework, leveraging his expertise in corporate law and regulatory matters.
Historical Stock Returns for Cranex
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.83% | -0.95% | -6.79% | -6.48% | -49.21% | +577.25% |
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