Riddhi Corporate Services Limited has successfully concluded its postal ballot process with unanimous shareholder approval across all proposed resolutions. The postal ballot, dated March 1, 2026, concluded on March 30, 2026, under Regulation 44 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Postal Ballot Overview

The company conducted the postal ballot with CS Samsad Alam serving as the scrutinizer. The process covered four resolutions, with the record date set as February 26, 2026, encompassing 2830 total shareholders.

Resolution Results

All four resolutions received unanimous approval from participating shareholders through the remote e-voting platform provided by NSDL.

Resolution 1: IPO Object Variation

The special resolution for variation in the objects of the Initial Public Offer received complete support from shareholders.

Resolution 2: Statutory Auditor Appointment

The ordinary resolution for appointment of statutory auditors to fill casual vacancy was approved unanimously.

Resolution 3: Director Regularization

The special resolution for regularization of Mr. Kalpesh Chandra Kishore Shukla (DIN: 07773003) as Non-Executive Independent Director received full shareholder support.

Resolution 4: Secretarial Auditor Appointment

The ordinary resolution for appointment of secretarial auditor of the company was passed with complete approval.

Voting Participation

The postal ballot witnessed participation from 15 shareholders through remote e-voting, representing 26.97% of the total outstanding shares. No shareholders voted against any of the proposed resolutions, and no invalid votes were recorded.

Regulatory Compliance

The company fulfilled all regulatory requirements under the Companies Act, 2013, and SEBI regulations. The postal ballot notice was distributed electronically to shareholders whose email addresses were registered with the company or depository participants. The results have been uploaded on the company's website at www.riddhicorporate.co.in and communicated to BSE Limited.

The scrutinizer's report confirmed that all procedural requirements were met, including proper notification through newspapers in English and Gujarati languages, and compliance with MCA circulars regarding electronic communication.

Riddhi Corporate Services Limited has completed the full utilization of proceeds from its preferential issue, filing a comprehensive statement with the Bombay Stock Exchange confirming no deviations from the original allocation plan.

Fund Utilization Details

The company raised ₹70.36 crore through a preferential issue dated January 24, 2023, with all proceeds being fully utilized by February 27, 2026. The funds were allocated entirely for general corporate purposes as originally disclosed to investors.

Regulatory Compliance

The statement was filed pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosures Requirements) Regulation, 2015. The company voluntarily submitted this disclosure following the complete utilization of the preferential issue proceeds, demonstrating adherence to regulatory requirements.

Audit Committee Review

The company's Audit Committee reviewed the fund utilization and confirmed that there was no deviation in the utilization of the preferential issue proceeds. The committee's comments specifically noted the absence of any deviation from the original allocation plan.

Corporate Details

Riddhi Corporate Services Limited operates as an ISO 9001:2015, 27001:2013 & CMMI Level 3 certified company. The filing was signed by Mustafa Sibatra, serving as Compliance Officer and Company Secretary, ensuring proper corporate governance in the disclosure process.

The company's systematic approach to fund utilization and transparent reporting reflects its commitment to regulatory compliance and shareholder transparency in capital allocation decisions.