Zeal Aqua Limited , a prominent player in the aquaculture sector, has made significant corporate governance decisions at its 17th Annual General Meeting (AGM) held on September 30, 2025. The company approved several key resolutions, including the extension of a director's remuneration term and the appointment of new auditors.

Remuneration Term Extension

The shareholders approved the revised remuneration terms for Mr. Dhavalkumar Shantilal Patel, who serves as a Whole-Time Director of the company. His remuneration term has been extended from September 22, 2025, to September 21, 2027. Under the new terms, Mr. Patel will receive a monthly remuneration of Rs. 3,00,000.

Mr. Patel, who holds 4,80,000 equity shares (0.38% stake) in Zeal Aqua Limited, brings over a decade of experience in aquaculture and fabrication business to his role. He is the son of Mr. Shantilal Patel, another Whole-Time Director of the company.

New Auditor Appointments

The AGM also saw the appointment of new auditors for the company:

1. Statutory Auditors: M/s D C Jariwala & Co, Chartered Accountants (Firm Registration No. 104063W), have been appointed as the new Statutory Auditors. They will serve for a term of five years, conducting statutory audits from the financial year 2025-2026 to 2029-2030. This appointment fills the casual vacancy created by the resignation of the previous auditors, M/s Patel Kabrawala And Co.

2. Secretarial Auditors: M/s JDM and Associates LLP, Practising Company Secretaries, have been appointed as the Secretarial Auditors for a period of five consecutive years, from the financial year 2025-26 to 2029-30.

Other Key Resolutions

The AGM also addressed several other important matters:

• Re-appointment of Mr. Rohan Pradipkumar Navik as a Whole-time Director
• Approval of material related party transactions
• Approval of overall borrowing limits under Section 180(1)(c) of the Companies Act, 2013
• Approval for the creation of mortgage or charge on the company's assets under Section 180(1)(a) of the Companies Act, 2013

These decisions reflect Zeal Aqua's commitment to maintaining strong corporate governance practices and ensuring long-term stability in its leadership and financial oversight.

The meeting, conducted through video conferencing and other audio-visual means, concluded with the e-voting facility remaining open for 15 minutes after the formal proceedings ended. The results of the voting are expected to be announced within two working days of the AGM's conclusion.

Zeal Aqua , a prominent player in the aquaculture industry, has made several significant announcements following its board meeting held on September 5, 2025. The company has disclosed changes in its statutory auditor, set the date for its upcoming Annual General Meeting (AGM), and revealed other important corporate decisions.

Change in Statutory Auditor

The board of Zeal Aqua has accepted the resignation of M/s Patel Kabrawala and Co., Chartered Accountants, as the company's statutory auditors. The outgoing auditors cited pre-occupation with other assignments as the reason for their departure, effective September 4, 2025.

To fill this vacancy, the board has appointed M/s D C Jariwala & Co., Chartered Accountants, as the new statutory auditors of the company. This appointment is subject to shareholder approval at the upcoming Annual General Meeting. M/s D C Jariwala & Co. is set to hold office from September 5, 2025, until the conclusion of the 22nd AGM, covering a period of five years.

17th Annual General Meeting

The company has scheduled its 17th Annual General Meeting for September 30, 2025, to be held via video conferencing. In preparation for the AGM, the board has set the book closure dates from September 22 to September 25, 2025, with September 23, 2025, designated as the cut-off date for e-voting purposes.

Board Composition and Remuneration Changes

Zeal Aqua also announced changes in its board composition. The company noted the resignation of Mr. Shahzad Yazdi Gandhi from his position as Independent Director, effective August 25, 2025.

Additionally, the board approved revised remuneration terms for Mr. Dhavalkumar Shantilal Patel, who serves as a Whole-Time Director. Subject to shareholder approval, Mr. Patel's revised remuneration is set at Rs. 3,00,000.00 per month, effective from September 22, 2025, until September 21, 2027.

Other Key Decisions

The board meeting also covered several other important matters:

1. Approval of the Director's Report for the year ended March 31, 2025.
2. Approval of the Annual Report for the financial year 2024-25.
3. Appointment of Mr. Dhaval P. Master as the scrutinizer for e-voting at the 17th AGM.
4. Recommendation for the reappointment of Mr. Rohan Pradipkumar Navik, who retires by rotation and offers himself for reappointment.

These developments reflect Zeal Aqua's commitment to maintaining strong corporate governance practices and ensuring transparency with its shareholders. The upcoming AGM will provide an opportunity for shareholders to engage with the company's management and vote on these crucial matters.