RBZ Jewellers shareholders approve six resolutions including Mehta reappointment
- Shareholders approved six resolutions at RBZ Jewellers' 18th AGM held on September 10, 2026
- Rajiv Nitin Mehta reappointed as independent director for a second five-year term starting June 2027
- Promoters cast 29,999,700 votes, representing 99.9992% participation
- Board empowered to increase borrowing limits and create charges on company properties
- Executive director remuneration revision approved with near-unanimous support
*this image is generated using AI for illustrative purposes only.
RBZ Jewellers shareholders approved six resolutions at its 18th annual general meeting held on September 10, 2026, via video conferencing. The approvals included the re-appointment of Rajiv Nitin Mehta as an independent director and the adoption of audited financial statements for FY26.
The combined voting results showed high participation from promoters, who cast 29,999,700 votes representing 99.9992% of their outstanding shares. Public non-institutional shareholders polled 89,513 votes (0.9165% participation), while public institutions voted 62,048 shares (26.649% participation). All six resolutions were passed with overwhelming support.
Voting Results Overview
| Resolution | Type | Votes In Favour | Votes Against | Result |
|---|---|---|---|---|
| Adoption of Financial Statements (FY26) | Ordinary | 30,151,258 | 3 | Passed |
| Re-appointment of R.K. Zaveri | Ordinary | 30,151,258 | 3 | Passed |
| Creation of Charge/Mortgage on Properties | Special | 30,151,208 | 3 | Passed |
| Increase in Borrowing Limits | Special | 30,151,257 | 4 | Passed |
| Revision of Executive Director Remuneration | Special | 30,151,256 | 5 | Passed |
| Re-appointment of Rajiv N. Mehta | Special | 30,151,257 | 4 | Passed |
Source: RBZ Jewellers Limited AGM Voting Results
Governance Details
Mehta, holding DIN 00697109, will serve as a Non-Executive Independent Director for a second five-year term running from June 30, 2027, to June 29, 2032. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. The company confirmed that Mehta is not debarred from holding office by any SEBI order or other authority.
Additionally, shareholders approved the re-appointment of Mr. Rajendrakumar Kantilal Zaveri (DIN: 02022264), who was retiring by rotation. The Board of Directors had recommended these appointments on August 11, 2026, following advice from the Nomination and Remuneration Committee.
Strategic Resolutions
Shareholders also approved two special resolutions empowering the board to create charges or mortgages on company properties for borrowing purposes under Section 180(1)(a) of the Companies Act, 2013. Furthermore, the board was granted authority to increase borrowing limits under Section 180(1)(c) of the same act. A separate special resolution approved revisions to the remuneration terms payable to executive directors.
Director Profile
Mehta brings over 20 years of experience across consumer brands, retail, venture capital, and corporate governance. He holds a master’s degree in chemical engineering and an MBA from INSEAD.
His professional background includes:
- Managing Director at Puma South Asia, where he scaled operations to over 320 stores.
- CEO roles at Arvind Sports Ltd and Arvind Fashion Brands Ltd, launching premium brands associated with icons like Sachin Tendulkar and Akshay Kumar.
- CEO of Stove Kraft Ltd, driving a turnaround and leading its successful IPO in 2021.
Currently, Mehta serves as an active angel investor with the Indian Angel Network. He also holds directorships at Unicorn Contractors and Kan DFY Sports, and is a Designated Partner at Vortis Advisors LLP and Vortis Sponsors LLP.
Historical Stock Returns for RBZ Jewellers
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.51% | -9.12% | +14.40% | +44.15% | +25.60% | 0.0% |
How will the approved increase in borrowing limits impact RBZ Jewellers' expansion strategy and debt-to-equity ratio in the coming fiscal years?
What specific operational or retail initiatives is Rajiv N. Mehta expected to drive during his second five-year term as an independent director?
Given the overwhelming promoter support but low public participation, how might this governance dynamic influence minority shareholder confidence and stock liquidity?
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