Oswal Agro Mills Limited (OAML) held its 45th Annual General Meeting (AGM) on September 25, 2025, marking significant changes in its leadership and compliance structure. The shareholders approved several key appointments and corporate governance measures during the virtual meeting.

New Auditor Appointments

The company has appointed new auditors for both statutory and secretarial audits:

• Statutory Auditors: M/s Mehta Chokshi & Shah LLP, Chartered Accountants, Mumbai (FRN:106201W) has been appointed for a five-year term from 2025 to 2030. The firm, with over five decades of experience, brings a team of 90 professionals, including 10 partners, known for their technical expertise and client-centric approach.

• Secretarial Auditors: M/s Jay Mehta & Associates, Company Secretaries, Mumbai (Membership No.: F8672 & COP: 8694) has been appointed for a five-year term from FY 2025-26 to FY 2029-2030. Led by Mr. Jay Mehta, the firm specializes in comprehensive secretarial and corporate compliance services.

Board Composition Changes

The AGM also saw significant changes to the company's board of directors:

1. Continuation of Directorship: Mrs. Aruna Oswal's directorship has been approved to continue in compliance with SEBI regulations.

2. New Independent Directors: Three new independent directors have been appointed for five-year terms starting August 13, 2025:

   • Mr. Gulshan Chamanlal Vohra: A seasoned HR and Legal professional with over 30 years of experience across various sectors.
   • Mr. Swapneel Vinod Patel: A practicing Company Secretary with 10 years of experience in corporate compliances.
   • Ms. Larly Nitin Bahl: A creative professional with over 20 years of experience in event design, interior styling, and digital sales.

Corporate Governance Enhancements

OAML has taken steps to strengthen its corporate governance framework:

• Memorandum of Association (MOA): The company has adopted and altered its MOA to align with the Companies Act, 2013. This includes updating the object clause to better reflect the company's business objectives and ancillary activities.

• Articles of Association (AOA): A new set of AOA has been adopted, restructured to align with current regulatory requirements, including the Companies Act, 2013, SEBI regulations, and Secretarial Standards.

Financial Statements and Other Business

The AGM also saw the adoption of audited standalone and consolidated IND AS financial statements for the financial year ended March 31, 2025, along with the reports of the Board of Directors and Auditors.

Oswal Agro Mills Limited's proactive approach in updating its governance structure and bringing in diverse expertise through new appointments signals a commitment to enhancing its corporate practices and preparing for future growth opportunities.

The meeting, which commenced at 3:00 PM IST, concluded at 3:23 PM IST, with an additional 15 minutes provided for e-voting. The company will separately intimate the detailed voting results to the stock exchanges as per regulatory requirements.

Oswal Agro Mills Limited (OAML) held its 45th Annual General Meeting (AGM) on September 25, 2025, marking a significant milestone in the company's corporate governance structure. Shareholders approved several key resolutions, including the adoption of a new Memorandum of Association (MOA) and Articles of Association (AOA), aligning the company with the Companies Act 2013.

Governance Updates

The company's existing MOA and AOA, previously based on the Companies Act 1956, have been comprehensively revised to comply with the current regulatory framework. Key changes in the MOA include:

• Restructuring of the object clause into main and ancillary objects
• Addition of a new sub-clause allowing trading and investing in financial instruments, including derivatives
• Updating the liability clause to specify that member liability is limited to unpaid share amounts

The AOA has been aligned with the Companies Act 2013, SEBI regulations, and Secretarial Standards, streamlining corporate procedures and enhancing transparency.

Board Appointments

Shareholders approved several appointments to strengthen the company's leadership:

• Mr. Gulshan Chamanlal Vohra, Mr. Swapneel Vinod Patel, and Ms. Larly Nitin Bahl were appointed as Non-Executive Independent Directors for a five-year term starting August 13, 2025.
• Mrs. Aruna Oswal's directorship was continued in compliance with SEBI regulations.

Auditor Appointments

The AGM also saw the appointment of new auditors:

• M/s Mehta Chokshi & Shah LLP as Statutory Auditors for a five-year term until the 50th AGM in 2030.
• M/s Jay Mehta & Associates as Secretarial Auditors for a five-year term from FY 2025-26 to FY 2029-2030.

Meeting Proceedings

The AGM, conducted through video conferencing, commenced at 3:00 PM IST and concluded at 3:23 PM IST. E-voting facilities were provided to shareholders before and during the meeting to ensure maximum participation in the decision-making process.

These comprehensive changes and appointments reflect Oswal Agro Mills' commitment to maintaining robust corporate governance practices and adapting to evolving regulatory requirements in the Indian corporate landscape.