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'Pleased to inform’ promoter died: Company trolled for exchange filing

A Rajasthan-based company was schooled about the dangers of blindly following templates.

August 29, 2022 / 10:48 AM IST
The filing from Rajasthan-based textile company AK Spintex.

The filing from Rajasthan-based textile company AK Spintex.


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.

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"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?"

 

 

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.

 

A third person offered the company a lesson on subtlety.

"I would suggest a bit of subtle language to hide their intentions," they said.

 

AK Spintex was founded in 1994 and became a public limited company the next year. It focuses on fabric processing. 

Moneycontrol News
first published: Aug 27, 2022 09:40 am
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