20-Aug-2026      19:07

Acknit Industries seeks shareholder approval to extend Managing Director Saraf’s term through 2031

Acknit Industries Limited will seek shareholder approval at its upcoming annual general meeting to re-appoint Managing Director Deo Kishan Saraf for a second five-year term, extending through June 2031. The company is also proposing the appointment of Tushar Jhunjhunwala and Amitava Mazumdar for five-year terms beginning July 2026, and the re-appointment of Rajarshi Ghosh for a similar duration. Saraf, who first joined the board in 1990, holds 228,532 shares and is brother to another director, Shri Krishan Saraf. The proposed directors will each receive Rs. 48.00 lakhs in sitting fees, and possess expertise in areas including finance, manufacturing, and logistics. The appointments are subject to regulatory approvals and shareholder vote.

News source: Capital Market - Live News