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Akshar Spintex Limited's shareholders did not approve the re-appointment of Mr. Parshotam Lakhabhai Vasoya as an Independent Director for a second term at the recent Annual General Meeting. Although the Board had put forward his continued service, the special resolution failed to pass. Consequently, Mr. Vasoya's tenure as Independent Director will conclude on a future date. The company is now evaluating potential candidates to fill this crucial role, ensuring ongoing board composition and governance. This outcome signifies a change in the company's board structure.