Karachi: AI-Abid Silk Mills Ltd, in a recently held Annual General Meeting on October 27, 2023, has taken significant decisions regarding the confirmation of past meeting minutes, adoption of financial statements, and the reappointment of auditors.

The shareholders resolved to confirm and adopt the minutes of the Extra Ordinary General Meeting which was held previously on May 16, 2023, ensuring that all decisions and discussions held during that time are now officially recognized.

In the same meeting, the Annual Audited Financial Statements of the company as of June 30, 2023, were approved and adopted. This includes the report of the Auditors and Directors presented to the shareholders by the Chief Executive, alongside the Statement of Compliance for the code of Corporate Governance, ensuring transparency and adherence to corporate governance standards.

Furthermore, the shareholders agreed upon the reappointment of M/s. Muniff Ziauddin and Co., Chartered Accountants, as the auditors of the company. They will hold the office from the conclusion of this meeting until the conclusion of the next Annual General Meeting, with a remuneration set at Rs.600,000 (Rupees six hundred thousand only).

These resolutions reflect the company’s commitment to maintaining transparency, upholding corporate governance standards, and ensuring the continuous monitoring of financial matters by competent authorities.