Jindal Worldwide Limited, a prominent player in the textile industry, held its 39th Annual General Meeting (AGM) on September 16, 2025, where shareholders approved several significant appointments and re-appointments. The meeting, conducted through video conferencing, marked important decisions for the company's leadership and auditing processes.

Chairman Re-appointed

Dr. Yamunadutt Agrawal, a veteran with 51 years of experience in the textile industry, was re-appointed as the Chairman and Director of Jindal Worldwide Limited. Dr. Agrawal, who is the father of the company's Vice Chairman & Managing Director Amit Agarwal, brings a wealth of experience and industry knowledge to his role.

Dr. Agrawal's impressive career includes serving as the Chairman of the Textile Committee of the Gujarat Chamber of Commerce and as an Executive Member of the Expert Consultative Committee of the Ministry of Textiles. His leadership extends beyond the corporate world, as he currently chairs Agrasen Foundation and Maharaja Agrasen Vidhyalaya.

New Auditors Appointed

The shareholders also approved the appointment of new auditors for the company:

1. Statutory Auditors: M/s. R. Choudhary & Associates, Chartered Accountants (FRN: 101928W), were appointed as the Statutory Auditors for a five-year term from FY 2025-2026 to FY 2029-2030. The firm boasts over three decades of experience in providing financial and advisory services.

2. Secretarial Auditors: M/s. SPANJ & Associates, Company Secretaries, were appointed as Secretarial Auditors, also for a five-year term spanning FY 2025-2026 to FY 2029-2030. The firm is managed by four qualified Company Secretaries operating from Ahmedabad and Mumbai, specializing in corporate law compliance and SEBI regulations.

Other AGM Proceedings

The AGM, which lasted from 3:00 PM to 3:18 PM IST, also saw the adoption of audited standalone and consolidated financial statements for FY 2024-25. Additionally, the remuneration of Cost Auditors for FY 2024-25 was ratified.

The meeting was conducted in compliance with the Companies Act, 2013, and relevant circulars issued by the Ministry of Corporate Affairs. Shareholders were provided with remote e-voting facilities to cast their votes on all resolutions.

These appointments and re-appointments reflect Jindal Worldwide's commitment to maintaining strong leadership and ensuring robust financial and regulatory compliance as it continues its journey in the textile industry.

Jindal Worldwide Limited has taken a significant financial step to support Aegios Polyfilms Private Limited, as announced in a recent regulatory filing. The company's Operational Committee has approved the issuance of a corporate guarantee worth Rs. 70.00 crore to facilitate additional working capital facilities for Aegios Polyfilms.

Key Details of the Corporate Guarantee

• Beneficiary: Aegios Polyfilms Private Limited
• Amount: Rs. 70.00 crore
• Purpose: Additional working capital facilities
• Lender: PNB Investment Services Limited

Transaction Insights

The corporate guarantee will be issued in favor of PNB Investment Services Limited, which is providing enhanced credit limits to Aegios Polyfilms. This transaction is being conducted at arm's length, despite the existence of a common director between the two companies.

Related Party Disclosure

Mr. Amit Yamunadutt Agrawal serves as a director for both Jindal Worldwide and Aegios Polyfilms Private Limited. This connection necessitates transparency in the transaction, which the company has addressed in its disclosure.

Financial Implications

Jindal Worldwide has clarified that the Rs. 70.00 crore corporate guarantee will be treated as a contingent liability in the company's books of accounts. This accounting treatment aligns with standard practices for such financial commitments.

Regulatory Compliance

The disclosure of this corporate guarantee aligns with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015. This ensures that shareholders and the market are informed of significant financial decisions that could impact the company's position.

Jindal Worldwide's decision to provide this substantial corporate guarantee underscores its commitment to supporting strategic business relationships while maintaining transparency with its investors and regulatory bodies.