Hardcastle & Waud Mfg Approves Key Leadership Appointments and Conducts 79th AGM

Hardcastle & Waud Mfg , a long-standing player in the Indian manufacturing sector, has announced significant leadership changes and conducted its 79th Annual General Meeting (AGM), marking important milestones for the company's governance and future direction.

Leadership Appointments

The company's shareholders have approved several key appointments during the AGM:

1. Managing Director Re-appointment: Mr. Banwari Lal Jatia has been re-appointed as the Managing Director for a term of three years, effective from April 1, 2026.

2. New Independent Director: Mr. Manekchand Panda joins the board as an Independent Director for a five-year term, starting from August 12, 2025.

3. Secretarial Auditor Appointment: SKJP & Associates, a firm of Practicing Company Secretaries, has been appointed as the Secretarial Auditor for a period of five years, covering financial years 2025-2026 through 2029-2030.

AGM Proceedings and Resolutions

The 79th AGM of Hardcastle & Waud Mfg was held at the Club House, Metro Residency Gate, Netivali, Kalyan (E). Key highlights of the meeting include:

• Financial Statements Adoption: Shareholders approved the audited Financial Statements for the year ended March 31, 2025, along with the Directors' and Auditors' reports.

• Director Re-appointment: Mr. Piyushkumar Mehta, who retired by rotation, was re-appointed as a Director.

• Material Related Party Transactions: Approval was granted for material related party transactions for the financial years 2025-2026 and 2026-2027.

Voting Results

The company reported strong shareholder support for all resolutions:

• All ordinary resolutions were passed with 100% votes in favor.
• Special resolutions, including the re-appointment of Mr. Banwari Lal Jatia as Managing Director, received unanimous approval from the voting shareholders.

Corporate Governance

The AGM proceedings highlighted the company's commitment to transparency and good corporate governance:

• The meeting was conducted in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• Remote e-voting facilities were provided to shareholders, ensuring wider participation in the decision-making process.
• The voting rights of 9,624 unclaimed equity shares held in a demat suspense account were frozen, adhering to regulatory requirements.

Looking Ahead

With these appointments and resolutions in place, Hardcastle & Waud Mfg appears poised for its next phase of growth and development. The re-appointment of Mr. Jatia as Managing Director and the addition of Mr. Panda as an Independent Director signal continuity in leadership while also bringing in new perspectives to guide the company's future strategies.