Advit Jewels Limited has entered into a nine-year lease agreement for commercial premises in Defence Colony, New Delhi, to support its business expansion efforts. The lease commenced on August 1, 2026, and will continue until July 31, 2035.

The agreement covers the Upper Ground Floor of property bearing No. D-32, Lala Lajpat Rai Marg. The premises offer approximately 2,200 sq. ft. of super built-up area and 1,700 sq. ft. of carpet area. The company disclosed the transaction under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, stating that the space will be used solely for permitted commercial business activities.

Lease Terms and Financial Structure

The lease involves a tiered rent structure that escalates every three years. A refundable, interest-free security deposit of ₹25,50,000 was paid to the lessor, Mr. Charanjeet Singh. The transaction is not classified as a related party transaction, and neither the promoter group nor group companies hold any interest in the entity with whom the agreement was made.

Rent Escalation Schedule

The monthly rent increases progressively over the tenure of the lease, reflecting a structured escalation clause typical of long-term commercial agreements.

Strategic Implications

The execution of this lease deed marks a strategic move by Advit Jewels to strengthen its physical presence in the National Capital Region. By securing a long-term facility in a prime location like Defence Colony, the company aims to enhance its operational capacity and customer reach in New Delhi. The fixed nature of the rent for three-year blocks provides predictable cost outflows for the initial phase of the expansion.

Advit Jewels Limited shareholders approved the appointment of Abhishek Gilara as Joint Managing Director during the company's seventh Annual General Meeting (AGM) held on September 28, 2026. The meeting also ratified the re-appointment of Prateek Gilara as a director retiring by rotation.

The virtual meeting, conducted via Video Conferencing and Other Audio-Visual Means, commenced at 4:00 pm and concluded at 5:20 pm. Chairman and Managing Director Nitin Gilara presided over the proceedings, with Chief Financial Officer Deepesh Sharma briefing members on the company's performance for the financial year ended March 31, 2026.

Key resolutions passed

The following ordinary resolutions were adopted by the shareholders:

Appointment details and governance context

Abhishek Gilara (DIN: 03499248) has been appointed as Joint Managing Director for a period of five years effective August 10, 2026. He brings over 25 years of experience in the jewellery industry, having contributed to the growth and expansion of the Rambhajo's brand. His expertise spans strategic business planning, manufacturing, branding, and finance.

In terms of corporate relationships, Abhishek Gilara is the brother of Vipul Gilara, Whole-time Director, and cousin of Nitin Gilara, Chairman & Managing Director, and Prateek Gilara, Whole-time Director. The company confirmed that he has not been debarred or disqualified from holding office by SEBI or any other authority.

Additionally, M/s ATCS & Associates was appointed as Secretarial Auditors for a term of five years commencing April 1, 2026, to March 31, 2031, under Section 204 of the Companies Act, 2013.

Voting results and attendance

The scrutinizer’s report submitted on September 29, 2026, confirmed that all resolutions were passed with requisite majority. A total of 34,065,477 votes were polled across all categories, representing 74.36% of the total outstanding shares of 45,810,000. The promoter group held 32,010,000 shares, while public institutions held 3,579,085 shares and public non-institutions held 10,220,915 shares.

Voting participation was high among promoters, with 100% of their shares voted in favor of all resolutions. Public institutions voted 54.80% of their holding in favor. Public non-institutions saw a lower turnout, with only 0.92% of their shares voted; however, 99.95% of those votes were in favor, with just 50 votes cast against certain resolutions.

Governance and attendance

The board saw significant participation from both executive and independent directors. Promoter group members and public shareholders collectively attended the meeting, with a total of 36 members present in person or through proxy during the AGM session, alongside 62 members who voted through remote e-voting prior to the meeting.

Directors Present:

• Nitin Gilara: Chairperson & Managing Director
• Prateek Gilara: Whole Time Director
• Vipul Gilara: Whole Time Director and CEO
• Abhishek Gilara: Additional Director (now Joint Managing Director)
• Amit Bardia: Independent Director
• Arzoo Mantri: Independent Director
• Divyank Bader: Independent Director
• Sidharth Bafna: Independent Director

The statutory auditors expressed an unqualified opinion on the financial statements for FY26. The e-voting results were scrutinized by Tara Chand Sharma of ATCS & Associates, who was also appointed as the new Secretarial Auditor firm alongside Keyur Shah and Associates acting in a supporting capacity for the scrutiny process.