Garnet Construction Board Formally Approves Director and CFO Appointments

Garnet Construction Limited has formally communicated key board decisions to BSE Limited under Scrip Code 526727, following regulatory disclosure requirements under Regulation 30 of SEBI LODR. The company addressed critical leadership changes following the demise of promoter Mr. Kishankumar Kedia and implemented necessary organizational restructuring.

Board Meeting Decisions

The board meeting resulted in three significant decisions as communicated to the Bombay Stock Exchange on March 23, 2026:

Decision:	Details
Noting Promoter's Demise:	Board recorded demise of Mr. Kishankumar Kedia (DIN 205146), Promoter, Managing Director & CFO on February 22, 2026
Director Appointment:	Ms. Chahat Sanjaykumar Kedia (DIN 11621550) approved as Additional Director
CFO Appointment:	Ms. Nikita Poddar approved as Chief Financial Officer

Leadership Appointments and Profiles

The board has formally approved the appointment of Ms. Chahat Sanjaykumar Kedia as Additional Director of the company, effective March 23, 2026. She is the daughter of Sanjaykumar Kedia and is currently pursuing graduation. Her appointment is subject to applicable laws, necessary approvals, and shareholder approval as she is liable to retire by rotation.

Additionally, the board approved Ms. Nikita Poddar's appointment as Chief Financial Officer, effective March 23, 2026. Ms. Poddar brings significant expertise as an Associate Member of the Institute of Chartered Accountants of India (ICAI) with over 8 years of experience in corporate finance. She is not related to any directors of the company.

Regulatory Compliance and Disclosure Details

The formal disclosure was submitted to BSE Limited at Floor 25, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai, maintaining compliance with Regulation 30 requirements. The intimation was issued as a revised disclosure under Regulation 30 read with Part A of Schedule III of SEBI LODR regulations. Company Secretary and Compliance Officer Neha Verma (M. No: A46572) has formally signed the communication, ensuring proper regulatory adherence.

Personnel Changes:	Previous Status	Current Status	Effective Date
Mr. Kishankumar Kedia:	Promoter, Managing Director & CFO	Ceased (Death)	February 22, 2026
Ms. Chahat Kedia:	-	Additional Director	March 23, 2026
Ms. Nikita Poddar:	-	Chief Financial Officer	March 23, 2026

The board placed on record its deep condolences for Mr. Kishankumar Kedia's demise, acknowledging his significant contributions as Promoter, Managing Director, and CFO. The company continues to operate from its registered and corporate office at 501/531, Laxmi Mall, Laxmi Industrial Estate, New Link Road, Andheri (W), Mumbai, as it navigates through this leadership transition while maintaining operational stability.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.07%	-6.55%	-10.87%	+60.83%	+227.08%	+308.85%

Garnet Construction Ltd has announced the demise of Mr. Kishankumar Jugalkishore Kedia, who served as the company's Promoter, Managing Director, and Chief Financial Officer. The company was informed of his passing on 23rd February, 2026, with Mr. Kedia having passed away on 22nd February, 2026.

Leadership Role and Shareholding

Mr. Kishankumar Jugalkishore Kedia held significant positions within the company structure and maintained a substantial ownership stake.

Parameter	Details
Designation	Managing Director and CFO
DIN	00205146
Appointment Date	30th September, 2021
Shareholding	40,82,909 Equity Shares
Ownership Percentage	29.37%
Status	Promoter

Mr. Kedia was appointed as Managing Director on 30th September, 2021, and played crucial leadership roles through which the company immensely benefited. His dual role as both Managing Director and CFO positioned him as a key decision-maker in the company's operations and financial management.

Regulatory Compliance and Impact

The company has fulfilled its disclosure obligations under SEBI regulations following this development. In compliance with Regulation 30 and 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Garnet Construction Ltd has informed the stock exchange about this significant change in leadership.

Regulatory Aspect	Details
Reason for Change	Death
Date of Cessation	22nd February, 2026
Family Relationships	Father of Arun Kedia and Sanjay Kedia
Promoter Status	Will cease as per Regulation 31A(6)(c)

Following his demise, Mr. Kedia will cease to be a promoter of the company in accordance with Regulation 31A(6)(c) of the SEBI LODR Regulations. This change will have implications for the company's promoter group structure and shareholding pattern.

Company Response

The company has acknowledged the significant impact of this loss on its operations and leadership structure. All directors and employees of the company have conveyed deep sympathy, sorrow, and condolences to his family. The company described Mr. Kishankumar Jugalkishore Kedia's sudden and unexpected passing as an irreparable loss to the organization.

The notification was signed by Neha Varma, Company Secretary and Compliance Officer, who ensured proper regulatory compliance and timely disclosure to stakeholders. The company maintains its registered and corporate office at 501/531, Laxmi Mall, Laxmi Industrial Estate, New Link Road, Andheri (W), Mumbai.