Padam Cotton Yarns Limited has announced the appointment of Mr. Mahendra Singh (DIN: 07684132) as an Additional Director in the category of Non-Executive, Non-Independent Director, effective November 27, 2024. This decision, approved by the Board of Directors, comes following the recommendation of the Nomination and Remuneration Committee (NRC).

The appointment is subject to shareholder approval in the upcoming General Meeting. With over 15 years of experience in the textile industry, Mr. Singh brings a wealth of knowledge in areas such as retail and wholesale markets for textiles and garments.

Details of the Appointment

The appointment aligns with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency and compliance. Below are the key details regarding this significant development:

• Reason for Appointment:
  To enhance the board's expertise in the textile domain.

• Term of Appointment:
  Mr. Singh will hold office as an Additional Director until the next General Meeting, where shareholder approval will determine his continuation.

• Expertise and Experience:
  Mr. Singh holds a supplemental law degree from Jai Narain Vyas University and has an in-depth understanding of the textile industry, including market dynamics in retail and wholesale segments.

• Disclosure of Relationships:
  He is not related to any of the existing directors.

• Shares Held in the Company:
  Mr. Singh does not hold any shares in Padam Cotton Yarns Limited.

Compliance with SEBI Guidelines

The company has confirmed that Mr. Mahendra Singh is not debarred from holding the office of director under any SEBI or other regulatory orders. This appointment adheres to SEBI’s stringent requirements for board-level changes and corporate governance.

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Impact on Padam Cotton Yarns

The inclusion of Mr. Singh is expected to bring valuable insights to the company, particularly in navigating the evolving landscape of the textile sector. His extensive knowledge and strategic acumen are likely to contribute to the company’s growth and operational efficiency.

This development is in line with Padam Cotton Yarns Limited's commitment to maintaining strong corporate governance practices and enhancing the expertise of its leadership team.

Conclusion

The appointment of Mahendra Singh signifies Padam Cotton Yarns Limited's proactive approach to strengthening its board with industry veterans. Shareholders can anticipate a positive impact on the company’s strategic direction, particularly in the textile and garment sectors.

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