Jet Freight Logistics Expands Business Scope, Approves Key Resolutions at AGM
Jet Freight Logistics Limited (JFLL) held its 19th Annual General Meeting on September 25, 2025, approving significant changes. The company expanded its business scope to include general trading activities, e-commerce, and ancillary services. Key appointments were made, including new Statutory and Secretarial Auditors for five-year terms. Shareholders approved remuneration changes for top executives and re-appointed Mrs. Agnes Theknath as a Director. The resolutions, particularly the expansion of business scope, received overwhelming support with 100% votes in favor.
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Jet Freight Logistics Limited (JFLL) has taken significant steps to broaden its business horizons and strengthen its corporate governance at its 19th Annual General Meeting (AGM) held on September 25, 2025. The company, known for its logistics services, has approved several key resolutions that signal a strategic shift in its operations and management structure.
Expansion of Business Scope
In a move that marks a significant diversification of its business model, JFLL's members approved alterations to the company's Memorandum of Association (MOA). The changes involve adding a new sub-clause to the Object Clause, which substantially expands the company's business scope. The amendment allows JFLL to engage in general trading activities, including:
- Buying, selling, importing, and exporting a wide range of goods
- Trading in machinery components, automobile parts, food products, textiles, electronics, and various consumer items
- Conducting business through e-commerce platforms, websites, and mobile applications
- Providing ancillary services such as logistics, warehousing, and digital payment processing
This expansion positions JFLL to diversify its revenue streams and potentially tap into new market segments beyond its traditional logistics focus.
Key Appointments and Auditor Changes
The AGM also saw the approval of several important appointments:
- M/s. Ajay Shobha & Co., Chartered Accountants, were appointed as the Statutory Auditors for a term of five consecutive years.
- M/s. Parikh & Associates, Practicing Company Secretaries, were appointed as the Secretarial Auditors for a five-year term from FY 2025-26 to FY 2029-30.
These appointments aim to ensure robust financial and secretarial oversight for the company in the coming years.
Management Remuneration and Board Changes
Several resolutions related to management remuneration were passed:
- Approval for waiver of recovery of excess managerial remuneration paid to Mr. Richard Francis Theknath (Chairman & Managing Director) and Mr. Dax Francis Theknath (Executive Director) for the financial year 2024-2025.
- Revision in remuneration terms for both Richard Francis Theknath and Dax Francis Theknath.
Additionally, Mrs. Agnes Theknath, who retired by rotation, was re-appointed as a Director.
Voting Results
The resolutions were passed with overwhelming support from shareholders. The alteration to the Object Clause in the MOA received 100% votes in favor, with 2,39,33,781 valid votes cast. The resolutions regarding management remuneration and appointments also saw strong support, with over 98% of votes cast in favor.
Conclusion
The decisions made at JFLL's AGM reflect a strategic move towards diversification and strengthened corporate governance. By expanding its business scope and making key appointments, Jet Freight Logistics Limited appears to be positioning itself for growth and adaptation in a rapidly evolving business landscape. The strong shareholder support for these measures indicates confidence in the company's strategic direction.
Historical Stock Returns for Jet Freight Logistics
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.55% | +7.45% | +61.38% | +43.08% | +7.97% | +249.48% |
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