Mahalaxmi Fabric Mills Limited (MFML), a leader in the textile industry, has officially announced the resignation of CS Naresh Vasudevbhai Kanzariya, who served as the Company Secretary and Compliance Officer. The resignation is effective as of January 16, 2025, and was made public in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of the Resignation

CS Naresh Kanzariya, a highly valued member of the company's leadership team, tendered his resignation citing aspirations for professional growth and career advancement. His contributions to the company's compliance and governance operations were highly appreciated by the board.

1. Reason for Resignation:
In his resignation letter, Mr. Kanzariya expressed gratitude to the company’s board and team, highlighting his positive experience working at Mahalaxmi Fabric Mills. However, he noted his decision to step down was driven by opportunities to advance his career in a new role.

2. Effective Date:
Mr. Kanzariya’s resignation was accepted by the board, with January 16, 2025, as his final day in office.

3. SEBI-Compliant Disclosure:
The resignation details were submitted to both the BSE Limited and the National Stock Exchange of India Limited, adhering to the regulatory requirements of SEBI Regulation 30 and ensuring transparency.

Annexure Information

The company included the following disclosures as part of the SEBI compliance process:

• Reason for Change: Resignation for professional growth and better opportunities.
• Effective Date: January 16, 2025.
• Relationship with Directors: Not applicable.

The formal resignation letter was attached as Annexure B, wherein Mr. Kanzariya expressed his best wishes for Mahalaxmi Fabric Mills’ continued success.

Chairman’s Statement

Jeetmal B. Parekh, Chairman of Mahalaxmi Fabric Mills, acknowledged the resignation in a formal communication, expressing appreciation for Mr. Kanzariya’s contributions to the company. He stated, "We are grateful for Naresh’s commitment to maintaining high standards of compliance and wish him great success in his future endeavors."

Corporate Governance at MFML

The company emphasized its ongoing commitment to upholding robust corporate governance practices. Mahalaxmi Fabric Mills is expected to announce a replacement for the Company Secretary role soon, ensuring continuity in its compliance and administrative functions.

Looking Ahead

With its reputation as a trusted name in the fabric manufacturing sector, Mahalaxmi Fabric Mills Limited will continue to prioritize operational excellence and compliance.

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