Agro Tech Foods Limited (ATFL) announced significant changes to its Board of Directors following a meeting held on July 16, 2024. Five independent directors, including Lt. Gen. D B Singh, Mr. Sanjaya Kulkarni, Mr. Narendra Ambwani, Mr. Arun Bewoor, and Ms. Veena Gidwani, retired from the board upon completing their second term.
The company also welcomed three new independent directors: Mr. Rajesh Jain, Mr. Satish Rao, and Ms. Richa Arora. Their appointments, effective from July 17, 2024, are for an initial term of three years, subject to shareholder approval.
In addition, two non-executive non-independent directors, Mr. Pedro Labayen de Inza and Mr. Trevor John Foster, resigned due to personal reasons. The company confirmed that there were no material reasons for their resignations.
The board also approved the appointment of M/s BSR and Co, Chartered Accountants, as the new statutory auditors for a five-year term, succeeding M/s Deloitte Haskins & Sells LLP. This appointment is pending shareholder approval at the upcoming 37th Annual General Meeting (AGM).
These changes mark a significant shift in the composition of ATFL's board, bringing in fresh perspectives and expertise. The company's commitment to regulatory compliance is evident in the detailed disclosures provided in accordance with SEBI regulations.
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