Grover Jewells Limited convened a Board of Directors meeting on Tuesday, May 05, 2026, at its registered office in New Delhi. The meeting, which commenced at 1:45 p.m. and concluded at 3:15 p.m., resulted in the approval of several significant corporate and financial proposals, all subject to members' approval. The disclosures were made pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Borrowing Limit Expansion and NCD Issuance

Among the most consequential decisions, the board approved a substantial increase in the company's borrowing threshold. The existing borrowing limit is proposed to be raised fivefold, in pursuance of Section 180 of the Companies Act, 2013. Alongside this, the board approved raising funds through the issuance of Non-Convertible Debentures (NCDs) via a private placement route through the Electronic Book Platform, in one or more tranches.

The following table summarises the key parameters of the proposed borrowing and NCD issuance:

Managerial Remuneration Revisions

The board also deliberated on and approved revisions to managerial remuneration. The overall managerial remuneration payable to the directors of the company is proposed to be increased up to Rs. 7,00,00,000 (Rupees Seven Crore only), subject to members' approval. Individual remuneration revisions were also approved for the following key managerial personnel:

• Mr. Deepak Kumar Grover, Managing Director (DIN: 09357414)
• Mr. Lavkesh Kumar Grover, Executive Director

Both revisions remain subject to members' approval.

Material Related Party Transaction

The board approved entering into a material related party transaction with S.S. Bullions, a proprietorship concern of Mr. Lavkesh Kumar Grover, for the purchase of goods or bullions in the ordinary course of business. The transaction is proposed to be conducted at arm's length basis, with the transaction amount not exceeding Rs. 50,00,00,000 (Rupees Fifty Crores only), subject to members' approval.

Postal Ballot and Scrutinizer Appointment

To facilitate members' approval for the aforementioned resolutions, the board approved the circulation of a Postal Ballot Notice. The board also approved the appointment of Mr. Avnish Sharma (M. No: F13636) of M/s Avnish Sharma and Associates, Practicing Company Secretary, as the Scrutinizer for the postal ballot process.

Key Approvals at a Glance

The following table provides a consolidated overview of all matters approved at the board meeting:

All resolutions approved at the board meeting remain subject to the requisite members' approval through the postal ballot process.