Milestone Furniture Limited has announced the resignation of its Executive Director Mr. Vivek Yogeshwar Sonar, effective from the closing of business hours on 16/03/2026. The company has informed the Bombay Stock Exchange about this key management change in compliance with regulatory requirements.

Executive Director Departure Details

Mr. Vivek Yogeshwar Sonar (DIN: 07735643) has tendered his resignation from the position of Executive Director due to personal reasons. The resignation becomes effective from the closing of business hours on 16/03/2026.

Regulatory Filing and Documentation

The company has filed a formal intimation with the Bombay Stock Exchange under Regulation 30 of SEBI (LODR) Regulations, 2015. The filing includes comprehensive documentation including the resignation letter and required disclosures under Schedule III of the regulations.

The announcement was signed by Mayank Rasiklal Kotadia, Whole Time Director (DIN: 07484438), on behalf of Milestone Furniture Limited. The company operates under CIN: L36912MH2014PLC254131 with its registered office located at Level 4, DYNASTY Business Park, A wing, Andheri-Kurla Road, J.B. Nagar, Mumbai.

Resignation Letter and Confirmation

In his resignation letter dated 16/03/2026, Mr. Sonar expressed sincere gratitude to the Board of Directors and management for their support and cooperation during his tenure with the company. He confirmed that there are no material reasons for his resignation other than the personal reasons cited.

The company has acknowledged Mr. Sonar's valuable services during his tenure as Executive Director and confirmed that there are no other material reasons for the resignation beyond those mentioned in the resignation letter.

Company Response and Next Steps

Milestone Furniture Limited has requested the stock exchange to acknowledge receipt of the intimation and take the same on record. The company has also indicated that necessary forms will be filed with the Ministry of Corporate Affairs as required under applicable regulations.

The resignation filing demonstrates the company's commitment to maintaining transparency and regulatory compliance in its corporate governance practices.

Milestone Furniture Limited has successfully concluded its Annual General Meeting held on December 27, 2025, with the declaration of voting results showing unanimous approval for all proposed resolutions. The meeting was conducted through Video Conferencing and Other Audio-visual Means, reflecting the company's adaptation to modern corporate governance practices.

Meeting Overview and Participation

The AGM was held on Saturday, December 27, 2025, from 12:30 PM to 12:40 PM, with a total of 650 shareholders on the record date of December 20, 2025. The meeting witnessed participation from 8 shareholders through video conferencing, while 14 members participated in the voting process through the e-voting system.

Voting Results and Resolution Approval

All nine resolutions presented during the AGM received overwhelming support from shareholders. The voting was conducted exclusively through public non-institutional shareholders, with consistent results across all resolutions.

Key Resolutions Passed

The approved resolutions encompassed critical corporate governance and operational matters:

Ordinary Resolutions:

• Adoption of Financial Statements
• Appointment of Director retiring by rotation
• Regularization of M/S. R DAGA & Company as statutory auditors (FRN: 328421E)
• Appointment of Brajesh Gupta & Co. as secretarial auditor for 5 years
• Regularization of Mrs. Payal Vatsal Thakkar (DIN: 10799911) as Non-Executive, Non-Independent Director
• Noting resignation of Mrs. Muskan Rana (DIN: 10216001), Independent Director

Special Resolutions:

• Approval of Related Party Transactions under Section 188 of the Companies Act, 2013
• Increasing Borrowing Powers under Section 180(1)(c) not exceeding Rs. 50 crore
• Approval to increase permissible investment limits for Non-Resident Investors (NRIs) and Foreign Portfolio Investors (FPIs)

Scrutinizer Report and Process

Brajesh Gupta, Practicing Company Secretary from Indore (Membership No. 33070), served as the appointed Scrutinizer for the e-voting process. The e-voting period remained open from December 24, 2025 (09:00 AM) to December 26, 2025 (5:00 PM). The company engaged National Securities Depository Limited (NSDL) for providing e-voting facilities and conducting the electronic voting process.

Corporate Governance Enhancement

The approved resolutions demonstrate the company's commitment to strengthening its corporate governance framework. The enhancement of borrowing powers up to Rs. 50 crore and the approval for increased investment limits for foreign investors indicate the company's strategic focus on growth and capital expansion. The regularization of key appointments, including the secretarial auditor for a five-year term, ensures continuity in compliance and governance oversight.