Indo Cotspin Limited, a leading player in the textile industry, has announced the appointment of M/s Vikas Verma & Associates, Practicing Company Secretaries, as the Secretarial Auditor for the financial year 2024-25. The decision was taken during the Board Meeting held on 29th March 2025 at the company's registered office, located at Delhi Milestone 78 K.M, G.T. Road, Village Jhattipur, Samalkha, Panipat, Haryana, India.

Board Meeting Outcome and Compliance

The meeting of the Board of Directors commenced at 03:00 PM and concluded at 03:50 PM, during which the key agenda was to approve the appointment of the Secretarial Auditor. The appointment was made in accordance with Section 204 of the Companies Act, 2013 and other applicable provisions. This move reflects Indo Cotspin’s commitment to ensuring regulatory compliance and adherence to corporate governance norms.

Appointment of M/s Vikas Verma & Associates

M/s Vikas Verma & Associates, a firm of Practicing Company Secretaries with over 10 years of experience in the field of Secretarial and Legal Compliance, has been entrusted with the responsibility of conducting the Secretarial Audit for the company. The firm has a solid reputation for maintaining high standards of professionalism, expertise, and compliance with regulatory requirements.

The details of the appointment are as follows:

• Reason for Change: Appointment of Secretarial Auditor for FY 2024-25.

• Date of Appointment: 29th March 2025.

• Brief Profile: M/s Vikas Verma & Associates (FRN: P2012DE081400) has extensive experience in handling secretarial and legal compliance matters.

• Relationship Disclosure: No relationship between the appointed auditor and any of the directors.

Regulatory Framework and Compliance

As per Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the company is required to disclose material information regarding significant decisions taken by the Board of Directors. The appointment of a Secretarial Auditor is a statutory requirement under Section 204 of the Companies Act, 2013, which mandates that listed companies ensure compliance with secretarial standards and corporate governance norms.

Importance of Secretarial Audit

A Secretarial Audit plays a vital role in evaluating a company’s compliance with various legal and regulatory frameworks. It ensures that:

• The company adheres to the provisions of corporate laws and SEBI regulations.

• Any irregularities in corporate governance practices are identified and corrected.

• The interests of stakeholders are safeguarded by ensuring compliance with statutory norms.

Commitment to Corporate Governance

Indo Cotspin Limited has consistently emphasized corporate governance and transparency in its operations. The appointment of M/s Vikas Verma & Associates reflects the company’s continued efforts to enhance its compliance framework and adhere to the highest standards of governance.

Details of the Board Meeting

The Board of Directors of Indo Cotspin Limited met on 29th March 2025, at the company’s registered office. The meeting focused on the following matters:

1. Approval of Secretarial Auditor Appointment: The Board approved the appointment of M/s Vikas Verma & Associates for the financial year 2024-25.

2. Compliance with SEBI and Companies Act, 2013: The Board ensured that the appointment complied with all statutory requirements.

3. Board Meeting Duration: The meeting started at 03:00 PM and concluded at 03:50 PM.

Implications for Stakeholders

The appointment of a competent and experienced Secretarial Auditor ensures that shareholders, investors, and regulatory authorities have confidence in the company’s corporate practices. This move also enhances transparency and accountability within the organization, which is essential for maintaining investor trust and regulatory compliance.

Future Outlook

With the appointment of M/s Vikas Verma & Associates, Indo Cotspin Limited is expected to strengthen its compliance framework and ensure seamless adherence to statutory guidelines. This proactive approach highlights the company’s dedication to maintaining high standards of corporate governance, which is essential for sustainable growth and stakeholder confidence.

Conclusion

The decision by Indo Cotspin Limited to appoint M/s Vikas Verma & Associates as the Secretarial Auditor for FY 2024-25 is a strategic move aimed at enhancing compliance, transparency, and corporate governance. By aligning with experienced professionals in the field, the company is poised to uphold its commitment to regulatory compliance and protect the interests of its stakeholders.

The disclosure of this information, in compliance with Regulation 30 of SEBI LODR, 2015, reflects the company's continued efforts to ensure transparency and accountability in its operations.

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