A Rajasthan-based company recently declared in a corporate filing that "it was pleased" to announce the death of its promoter.
AK Spintex, a textile company, made the error its submission to the Bombay Stock Exchange on August 25.
"We are pleased to inform that promoter of our company Smt. Saroj Devi Chhabra holding 4,41,000 Shares (8.76%) is no more in this world," their filing read. "You are requested to please take on record the above said information of the company for your reference and further needful."
The notice was signed by Ashish Bagrecha, AK Spintex's company secretary and compliance officer.
Soon, people caught wind of the error and started trolling the company on social media. One user flagged the dangers of blindly following templates.
"Dear investors, the world in a cruel place once you are gone," they said. "Look at AK Spintex folks. "Can something be done to correct the issue?"
Dear investors, the world in a cruel place once you are gone.look at AK Spintex folksVakil Saheb @RURALINDIA , see how company secretaries using old template/wrong template changes the meaning.
Can something be done to correct the issue. #stockmarketnewspic.twitter.com/2QPWkmdmKe
— D - Dukhi Aatma (@_setoodeh) August 26, 2022
Another said that the official who signed the notice seemed to be overworked.
"Perhaps AK Spintex should consider reducing the workload on Mr. Ashish Kumar Bagrecha," they wrote.
"We are pleased to inform...."
Perhaps AK Spintex should consider reducing the work load on Mr. Ashish Kumar Bagrecha pic.twitter.com/LuG2FRkL2C— Rahul‽ (@PsychotronV1) August 26, 2022
"I would suggest a bit of subtle language to hide their intentions," they said.
539300 is AkspintexI would suggest a bit of subtle launguage to hide their intentions. pic.twitter.com/DmQwSE6ufT
— RSP Trader (@rsp_trader) August 26, 2022
AK Spintex was founded in 1994 and became a public limited company the next year. It focuses on fabric processing.
