Futura Polyesters Appoints New Auditor, Extends Preference Share Redemption

Futura Polyesters Ltd announced board approval for the appointment of M/s. Dhwani M Shah & Associates as statutory auditors, replacing M/s. V.S. Somani & Co. The new auditor's term is effective from August 3, 2026, until the next AGM, with a remuneration of ₹5,00,000 plus taxes and expenses, subject to shareholder approval. Additionally, the board approved extending the redemption period of 19,89,000 9% Non-Cumulative Redeemable Preference Shares by five years, from September 17, 2025, to September 17, 2030, on existing terms, also pending shareholder approval. An Extraordinary General Meeting (EGM) is scheduled for August 26, 2026, to seek these approvals. The extension aims to facilitate efficient cash flow management.