Karachi: Mandviwala Mauser Plastic Industries Limited has announced the unopposed election of seven directors for its board, as per the notice published on November 20, 2024. The election will be formalized at the company's 36th Annual General Meeting scheduled for November 26, 2024.

The company has outlined that notices of intention for election were filed by Mr. Azeem H. Mandviwalla, Mr. Abdul Qadir Shiwani, Mr. Syed Asghar Ali, Mr. Tariq Mehmood, Mr. Shamim Ahmed Khan, Mrs. Huma Darugar, and Mr. Naseer Ahmed. According to Section 159(4) of the Companies Act, 2017, these individuals will be deemed elected as directors due to the absence of additional nominations.

According to information available from the Pakistan Stock Exchange (PSX), no other notices were submitted for additional candidates. The number of nominees correlates precisely with the positions available on the board, thereby nullifying the need for a contested election.

The election includes two independent directors, Mrs. Huma Darugar and Mr. Naseer Ahmed, selected based on expertise, qualifications, and alignment with Section 166 of the Companies Act. This process ensures compliance with both the Companies Act and the CCG-2019 regulations.

Mandviwala Mauser Plastic Industries Limited, through this unopposed election, aims to continue its operations with a board that reflects both experience and adherence to regulatory standards. The formal appointment of these directors will occur during the upcoming general meeting.