Gemstone Investments AGM approves financials, auditor appointment
- Gemstone Investments held its 32nd AGM on September 29, 2026
- Members approved FY26 audited financial statements and reports
- Santosh Kumar Dwivedi reappointed as director retiring by rotation
- M/s. A Raghavendra Rao & Associates appointed as statutory auditors
- 38 members attended in person; no proxies were represented
*this image is generated using AI for illustrative purposes only.
Gemstone Investments concluded its 32nd Annual General Meeting (AGM) on September 29, 2026, approving all proposed ordinary business items. The meeting, held at the company's registered office in Mumbai, saw the adoption of FY26 audited financial statements and the reappointment of key personnel.
The proceedings confirmed the earlier revised notice issued on September 23, 2026, which had shifted the venue from the original location to Unit No. 1212, 12th Floor, Kosha Kommercial Komplex, Podar Road, Malad East, Mumbai. The meeting commenced at 9:00 am and concluded at 9:30 am, with 38 members present in person and no proxies recorded.
Meeting Proceedings and Attendance
The AGM was chaired by Sudhakar Gandhi, Managing Director. Seven directors were present, including Chairman Kishore Bodha and Non-Executive Directors Santosh Dwivedi, Jiten Shah, Roshan Mayani, Rajesh Maiyani, and Falgun Shah. Key Managerial Personnel Tushant Shah (CFO) and Jayesh Ahire (Company Secretary) also attended.
The meeting followed the agenda set out in the notice dated September 3, 2026, as amended by the corrigendum of September 21, 2026. Voting was conducted via polling papers for members not using remote e-voting, with show of hands explicitly excluded.
Resolutions Passed
The following ordinary business items were duly proposed, seconded, and approved by the members:
| Item | Resolution | Details |
|---|---|---|
| 1 | Adoption of Financial Statements | Approved audited Balance Sheet and Statement of Profit and Loss for FY26, along with Board and Auditor Reports. |
| 2 | Director Reappointment | Appointed Santosh Kumar Dwivedi (DIN: 10617830) as Director, retiring by rotation under Section 152 of the Companies Act, 2013. |
| 3 | Auditor Appointment | Appointed M/s. A Raghavendra Rao & Associates as Statutory Auditors for a five-year term until the 37th AGM. |
E-Voting and Scrutiny
Remote e-voting was facilitated by NSDL from September 26, 2026, to September 28, 2026. M/s. Jaymin Modi & Co., Company Secretaries, served as the Scrutinizer to ensure fair and transparent voting processes. The Scrutinizer consolidated votes from both remote e-voting and polling papers, with results to be declared separately to stock exchanges and the company website.
Corporate Governance Update
The Managing Director delivered an address providing an overview of the company's performance and financial highlights for the year. The summary of proceedings confirms that all other contents of the original AGM notice remain unchanged. The document serves as a regulatory compliance update under SEBI Listing Regulations, distinct from the formal minutes of the meeting.
Historical Stock Returns for Gemstone Investments
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.31% | -3.05% | -13.61% | -28.65% | -34.20% | 0.0% |
How will the five-year tenure of M/s. A Raghavendra Rao & Associates influence Gemstone Investments' long-term financial reporting strategies and audit consistency?
What specific growth initiatives or portfolio adjustments did the Managing Director highlight during the address to justify the FY26 financial performance to shareholders?
How might the shift in voting methodology to exclude show of hands impact shareholder engagement levels and governance transparency in future AGMs?
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