M Ludlow Jute & Specialities Limited has submitted a regulatory filing to BSE Limited under Regulation 30 of SEBI LODR Regulations, 2015. The filing serves as an intimation regarding proceedings from the company's 47th Annual General Meeting held on Friday, 11th September, 2026.
At the AGM, shareholders approved Resolution No. 4 from the meeting notice, which concerned the alteration of the company's Articles of Association. The resolution passed with requisite majority.
The specific alteration involves the insertion of a new Article 133 under Clause VIII, positioned immediately after existing Article (6) General Power, with a new heading "(7) Appointment of Chairman Emeritus".
The new Article 133 contains six provisions:
- The Board is entitled to appoint any person who has rendered significant or distinguished services to the Company, to the industry to which the Company's business relates, or in the public field, as Chairman Emeritus of the Company.
- The Chairman Emeritus shall hold office until they resign or until a resolution to that effect is passed by the Board.
- The Chairman Emeritus may be invited to attend any meetings of the Board or its Committees but shall not have any right to vote and shall not be deemed to be a party to any decision of the Board or Committee.
- The Chairman Emeritus shall not be deemed to be a Director for any purposes of the Act or any other statute or Rules made thereunder or these Articles, including for determining the maximum number of Directors the Company can appoint.
- The Board may decide to make any payment in any manner for any services rendered by the Chairman Emeritus to the Company.
- If at any time the Chairman Emeritus is appointed as a Director of the Company, they may at their discretion retain the title of Chairman Emeritus.
The filing was digitally signed by Neha Jain, Company Secretary, and was submitted for information and records purposes to BSE Limited.