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Karachi: In a decisive move during the Extraordinary General Meeting held on June 29, 2024, shareholders of Sazgar Engineering Works Limited approved the removal of their external auditors, M/S Saeed Kamran and Co., Chartered Accountants. This decision was reached through special resolutions under the provisions of Section 246(5) and other relevant sections of the Companies Act, 2017.
The resolution to remove the auditors, appointed in the Annual General Meeting on October 26, 2023, was passed unanimously by the members present. This action reflects the company’s compliance with corporate governance standards and regulatory requirements.
According to information available from the Pakistan Stock Exchange (PSX), the company has also authorized its Chief Executive Officer, Chief Financial Officer, and Company Secretary to undertake all necessary legal formalities and actions to implement this resolution effectively. These officers are empowered to handle all related filings and administrative adjustments to ensure compliance with the Companies Act.