Garware Synthetics Ltd. held its Extra Ordinary General Meeting (EGM) on March 18, 2025, at 11:00 AM IST through Video Conferencing (VC) and Other Audio-Visual Means (OAVM) in compliance with the relevant provisions of the Companies Act, 2013, the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and applicable circulars issued by the Ministry of Corporate Affairs (MCA) and SEBI. The EGM was convened to discuss and approve the appointment of Ms. Ujwala Somnath Tate as the Chief Executive Officer (CEO) of the Company.

Proceedings of the EGM

The meeting was chaired by Mr. Sunder Moolya, Whole-Time Director of Garware Synthetics Ltd. He opened the session by briefing the members on the instructions for participating in the meeting through VC and the e-voting process. With the requisite quorum present, the Chairman called the meeting to order.

The Chairman introduced the Board Members, Key Managerial Personnel, Statutory Auditors, and the Secretarial Auditor. Mr. Suhas Ganpule, a Practicing Company Secretary and Proprietor of M/s. SG & Associates, was appointed as the Scrutinizer for the meeting to ensure the e-voting process was conducted fairly and transparently.

Special Business Discussion

The main agenda item for the EGM was the appointment of Ms. Ujwala Somnath Tate as the Chief Executive Officer of the Company. The Board explained the proposal and invited members to express their views or ask questions, which were answered by the Board.

The members who had not cast their votes through the remote e-voting process were encouraged to cast their votes on the special business, which was to appoint the new CEO. Following the conclusion of the voting process, the results would be consolidated by the Scrutinizer, and the final vote count would be declared within two working days. The results would be published by the Company and notified to CSE and CDSL.

Conclusion of the Meeting

The e-voting was facilitated for 15 minutes, and the meeting was concluded at 11:33 AM after all proceedings were wrapped up. Swati Shah, the Company Secretary, expressed gratitude to all the members and directors for their participation in the meeting.

Next Steps

As per the process outlined, the results of the e-voting will be announced soon after the Scrutinizer submits the report. Once the results are confirmed, the appointment of Ms. Ujwala Somnath Tate as the new CEO of Garware Synthetics Ltd. will be finalized, marking a significant step in the Company’s leadership transition.

About Garware Synthetics Ltd.

Garware Synthetics Ltd. is a leading company in the synthetic industry, known for its Garflon products such as bristles, rods, bushings, and tubing. The Company is committed to manufacturing high-quality products and maintaining high standards of corporate governance. Through continuous innovation and quality products, Garware Synthetics Ltd. has earned a reputation for excellence in its field.

The meeting’s successful conclusion further reflects the Company’s ongoing efforts to maintain transparency and uphold regulatory compliance, ensuring the smooth execution of significant corporate decisions.

The Upcoming IPOs in this week and coming weeks are Arisinfra Solutions Limited, Grand Continental Hotels, Rapid Fleet Management Services.

The Current active IPO are Paradeep Parivahan, Divine Hira Jewellers.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst