AGM outcome: independent director appointed; executive director and statutory auditor re-appointed

At the 33rd AGM, members approved Prathamesh Mukund Gaikwad as Non-Executive Independent Director, re-appointment of Deepak Chaganlal Choudhari (Executive Director) and Madhubala Deepak Choudhari (Non-Independent Non-Executive Director).

Thu 1 Oct 2026

Independent Director Appointment

Prathamesh Mukund Gaikwad as Non-Executive Independent Director w.e.f. 14-08-2026

Executive Director Shareholding

13,50,000 shares

Non-Executive Director Shareholding

1,70,035 shares

Statutory Auditor Re-appointment Term

re-appointed for a further term of five years

Statutory Audit Fee

Rs. 1,10,000 plus taxes

The company has informed the exchanges what its members approved at the 33rd Annual General Meeting.

The intimation states that as per the Scrutinizer's Report, the members of Mahaalaxmi Texpro Limited at the 33rd Annual General Meeting held on Wednesday, September 30, 2026 approved the appointment of an Independent Director, re-appointment of the Managing Director and re-appointment of the Statutory Auditors of the company.

Board changes

• Mr. Prathamesh Mukund Gaikwad was appointed as a Non-Executive Independent Director, with the date of appointment shown as 14-08-2026. He is described in the update as a seasoned technology professional with 8+ years of experience in the fintech ecosystem, spanning supply chain finance, payments, loyalty & rewards and digital lending, and as having led and scaled multiple startups in product development, technology architecture and go-to-market execution. His shareholding is shown as Nil, and the update states there is no inter-se relationship between him and the other members of the board and KMP.
• Mr. Deepak Chaganlal Choudhari was re-appointed as Executive Director, date shown as 30-09-2026 w.e.f. 15-03-2027, retire by rotation. He is a commerce graduate from Shivaji University, Kolhapur, with over 25 years of experience in yarn manufacturing and fabric processing. His shareholding is 13,50,000 shares. The update states he is the spouse of Mrs. Madhubala Choudhari.
• Mrs. Madhubala Deepak Choudhari was re-appointed as a Non-Independent Non-Executive Director, date shown as 30-09-2026. She holds a Bachelor's degree in commerce and is described as having textile and market technology qualifications, with rich and varied experience in the field of textile over the last 12 Years. Her shareholding is 1,70,035 shares. The update states she is the spouse of Mr. Deepak Choudhari.

Declarations received

The company has received declarations that the appointed and re-appointed directors are not debarred from holding the office of Director by virtue of any order of SEBI or any other authority, along with their consent to act as Director and declarations of non-disqualification under the applicable provisions of the Companies Act, 2013.

Statutory auditor re-appointment

• M/s ARNA & Associates, Chartered Accountants, have been re-appointed as Statutory Auditor of the company. The firm had completed its first term of 5 years and is re-appointed for a further term of five years.
• The further term commences from the conclusion of the 33rd Annual General Meeting till the conclusion of the 38th Annual General Meeting.
• The proposed statutory audit fee payable to the auditors is Rs. 1,10,000 plus taxes, subject to revision annually by the board. The update states there are no material changes in fees of the statutory auditor.
• The recommendation is stated to be based on fulfilment of the eligibility criteria prescribed by SEBI Regulations and the Companies Act, 2013 with regard to statutory and audit experience, capability and independence assessment. The firm is stated to hold a valid Peer Review certificate and to mainly provide audit and assurance services to its clients.

How this can be read

This is an outcome-of-AGM disclosure covering one fresh induction on the board, the re-appointment of the executive director and of the independent and non-executive positions, along with the re-appointment of the statutory auditor for a further term. The shareholding of the re-appointed directors is stated, which lets a reader see their stake in the company.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.