Lahore: Service Industries Textiles Ltd. has announced the successful passage of several key resolutions during its 63rd Annual General Meeting, which took place on October 28, 2024, at Lahore. This meeting underscored the company’s commitment to compliance and governance, as required by the regulations of the Pakistan Stock Exchange.

The resolutions confirmed during the meeting included the approval of the minutes from the previous annual general meeting held on October 27, 2023. According to information available from the Pakistan Stock Exchange (PSX), the company also adopted its annual audited accounts for the fiscal year ended June 30, 2024, alongside the directors' and auditors' reports, indicating a transparent approach to its financial documentation.

Moreover, a significant decision was made regarding the company's statutory auditors. M/s Crowe Hussain Chaudhury and Co. Chartered Accountants, led by Ms. Horwath Hussain Chaudhury, have been reappointed as the auditors for the next fiscal year, ensuring continuity in the audit process. This appointment, following clause (32) of the Corporate Governance Code, reflects a strategic choice aimed at maintaining rigorous financial oversight.

The AGM concluded with a vote of thanks to the chair, signifying satisfaction with the proceedings and the resolutions passed. This event highlights Service Industries Textiles Ltd.’s structured approach to governance and its adherence to regulatory standards, further strengthening its market position.