Vishal Fabrics Announces 41st AGM: Details on Director Reappointment and Cost Auditor Ratification
Vishal Fabrics Ltd has announced the details for its 41st Annual General Meeting (AGM), which will be held through Video Conferencing (VC) / Other Audio-Visual Means (OAVM). The meeting is scheduled for Tuesday, August 11, 2026, at 11:00 a.m. (IST).The AGM agenda includes several key resolutions concerning the company's financial status and board composition. Special business items include the reappointment of an Independent Director. Ordinary business encompasses the consideration and adoption of audited financial statements for the Financial Year ended March 31, 2026. The meeting will also involve the ratification of remuneration for Cost Auditors and the appointment of a new director to replace one who is retiring by rotation.
Key timelines related to the AGM and shareholder participation are as follows:
| Particulars | Date / Time Information |
|---|---|
| Date and Time of AGM | Tuesday, August 11, 2026 at 11:00 a.m. (IST) |
| Cut-off date for e-voting | Tuesday, August 04, 2026 |
| Commencement of Remote e-voting | Saturday, August 08, 2026 at 10:00 a.m. (IST) |
| Conclusion of Remote e-voting | Monday, August 10, 2026 at 5:00 p.m. (IST) |
| Book Closure Period | Wednesday, August 05, 2026 to Monday, August 10, 2026 |
Focus on Independent Director Reappointment
A major item in the AGM is the special resolution for the reappointment of Mr. Susanta Kumar Panda (DIN: 07917003). Mr. Panda, who served as an Independent Director until May 31, 2026, has been recommended by the Nomination and Remuneration Committee (NRC) and the Board of Directors for a second term of five years. His reappointment is set to run from June 01, 2026, up to May 31, 2031, making him not liable to retire by rotation.Mr. Panda's professional background includes experience as an Indian Revenue Service (IRS) officer of the 1982 Batch, having previously held positions in the Ministry of Finance and served as a special secretary to the Government of India. He also holds directorships across various entities, including Zee Media Corporation Limited, Paytm Payments Services Limited, Shanti Educational Initiatives Limited, Tiger Logistics (India) Limited, and Mangalam Worldwide Limited.
Ordinary Business Highlights
During ordinary business, shareholders are asked to adopt the audited standalone financial statements for the Financial Year ended March 31, 2026.Additionally, two key appointments and ratifications are scheduled:
1. Cost Auditor Ratification: Shareholders must ratify the appointment and remuneration of M/s. AG. Tulsian and Co as Cost Auditors to conduct audits of cost records for the financial year ending March 31, 2027. The approved remuneration limit is not exceeding ₹50,000 per annum.
2. Director Appointment: A resolution will be conducted to appoint a new director in place of Mr. Arvind Pandey (DIN: 10637419), who retires by rotation and has offered himself for re-appointment.
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