Monte Carlo Fashions re-appointed Chairman and Managing Director Jawahar Lal Oswal, along with Executive Directors Ruchika Oswal and Monica Oswal, for a further period of five years. The resolutions were passed at the company's 18th Annual General Meeting held on September 28, 2026.

The new terms for the executive leadership commence on August 10, 2026, and extend until August 9, 2031. Additionally, Independent Directors Manikant Prasad Singh and Parvinder Singh Pruthi were re-appointed for second five-year terms effective February 1, 2027, through January 31, 2032.

Leadership continuity and governance

The meeting, conducted via Video Conference and Other Audio Visual Means, saw all proposed resolutions passed by requisite majority. Beyond the director re-appointments, shareholders adopted the audited standalone and consolidated financial statements for FY26 and declared dividends on equity shares. Sandeep Jain and Dinesh Gogna were also re-appointed as directors retiring by rotation.

Jawahar Lal Oswal, aged about 83 years, continues to lead the company with over five decades of experience in the textile industry. He holds 1,05,059 equity shares. Ruchika Oswal and Monica Oswal, each holding over 5 lakh equity shares, oversee manufacturing/designing and retail/branding functions respectively.

Director profiles and terms

The re-appointments ensure stability in both promoter-led management and independent oversight. The details of the approved terms are as follows:

Manikant Prasad Singh is a retired IAS officer with experience in public administration and governance. Parvinder Singh Pruthi is a former Indian Revenue Service officer with expertise in taxation and corporate management. Neither has pecuniary relationships with other directors.

Meeting proceedings and voting

The AGM commenced at 11:00 am IST and concluded at 12:00 noon IST. Company Secretary Ankur Gauba facilitated the session, while Jawahar Lal Oswal chaired the proceedings. Four shareholder speakers raised queries regarding financial performance, which were addressed by management.

Voting was conducted electronically via the Central Depository Services (India) Limited platform. Remote e-voting was open from September 25 to September 27, 2026, for members holding shares as of the cut-off date of September 21, 2026. P.S. Dua & Associates served as the scrutinizer. Statutory auditors Deloitte Haskins & Sells and secretarial auditors P.S. Dua & Associates submitted reports without qualifications.

Monte Carlo Fashions Ltd will close its trading window for insiders starting October 1, 2026. The restriction remains in effect until 48 hours after the company declares its unaudited financial results for the quarter and half year ending September 30, 2026.

This action complies with the Code of Fair Disclosure and the SEBI (Prohibition of Insider Trading) Regulations, 2015. The closure applies to Promoters, Directors, Key Managerial Persons, Designated Persons, and their immediate relatives.

Regulatory compliance and scope

The company issued this notice to the National Stock Exchange of India Limited and BSE Limited on September 24, 2026. The decision aligns with internal procedures for regulating, monitoring, and reporting trades by insiders.

Board meeting schedule

The specific date for the Board Meeting to consider and declare the financial results has not yet been finalized. The company stated that this date will be intimated to the exchanges in due course. Insiders are prohibited from dealing in securities during the closed window period to prevent potential misuse of unpublished price-sensitive information.