Hyderabad: In a significant development for Fateh Industries Ltd., the company convened its Annual General Meeting (AGM) on October 28, 2024, at the Registered Office situated at Hyderabad. The meeting was marked by critical resolutions regarding the company's financial and audit operations.

The AGM, on October 28, 2024, saw the unanimous approval of the Annual Audited Financial Statements for the fiscal year ending June 30, 2024. The financial statements were accompanied by comprehensive reports from the Chairman and Directors, alongside statements of Compliance, Independent Auditors', and Review Reports, underscoring a robust governance framework within the company.

According to information available from the Pakistan Stock Exchange (PSX), a further resolution at the AGM ratified the appointment of Clarkson Hyde Saud Ahsan, Chartered Accountants, as the company's external auditors for the upcoming fiscal year ending June 30, 2025. The auditors have been reappointed at a remuneration of 0.40 million for the annual audit and 0.10 million for the review of half-yearly accounts. This strategic decision highlights Fateh Industries Ltd.'s commitment to maintaining stringent financial oversight and transparency in its operations.

This annual gathering not only reinforces Fateh Industries Ltd.’s adherence to high standards of financial accountability but also reflects its dedication to upholding shareholder trust through meticulous financial scrutiny and transparent corporate practices.