Riddhi Display Equipments Limited has announced several key board changes and corporate governance updates following its board meeting held on April 23, 2026. The company has also scheduled an Extraordinary General Meeting to seek shareholder approval for certain appointments and designation changes.

Board Meeting Outcomes

The board meeting, which commenced at 4:00 p.m. and concluded at 5:00 p.m. on April 23, 2026, addressed multiple governance matters in compliance with SEBI regulations. The company filed a corrigendum on April 24, 2026, to provide additional documentation including the formal resignation letter from the departing director.

Director Resignation and New Appointment

The board noted the resignation of Mr. Chand Rameshbhai Kanabar (DIN: 10706050) from his position as Independent Director, effective from business hours of March 28, 2026. His resignation was attributed to personal reasons, with confirmation that no other material reasons contributed to his departure.

Simultaneously, the board approved the regularization of Mr. Alpeshkumar Chandulal Gajera (DIN: 11527339) as Independent Director, based on the Nomination and Remuneration Committee's recommendation. Dr. Gajera brings over 16 years of teaching and administrative experience in management education.

Designation Change

The board approved changing the designation of Hansaben Shaileshbhai Pipaliya (DIN: 00832937) from Executive Director to Non-Executive Director. This change will become effective from the date of the ensuing Extraordinary General Meeting, subject to shareholder approval.

Extraordinary General Meeting

An Extraordinary General Meeting has been scheduled for Friday, May 15, 2026, to be conducted through video conferencing and other audio-visual means. The EGM will seek shareholder approval for:

• Regularization of Mr. Alpeshkumar Chandulal Gajera as Independent Director
• Change in designation of Hansaben Shaileshbhai Pipaliya from Executive Director to Non-Executive Director

Compliance and Governance Updates

The board received and noted several compliance-related matters during the meeting. Directors submitted their general notices of disclosure of interest in Form MBP-1 for Financial Year 2026-27, as required under Section 184(1) of the Companies Act, 2013. Independent Directors also provided declarations confirming their independence criteria under Section 149(6) of the Companies Act, 2013, and Regulation 16(1)(b) of SEBI Listing Regulations.

The company expressed appreciation for Mr. Kanabar's valuable contributions during his tenure as Independent Director and confirmed that all regulatory filings and disclosures have been completed in accordance with SEBI requirements.

Riddhi Display Equipments Limited has issued a clarification to BSE Limited regarding the recent significant movement in its share price across exchanges. The response, dated April 11, 2026, addresses BSE's inquiry about the volatility in the company's equity shares.

Regulatory Compliance and Disclosure

The company has emphasized its adherence to regulatory requirements in its communication to the BSE Surveillance Department. Key aspects of the clarification include:

Company's Position on Price Movement

Riddhi Display Equipments has stated that it has made all necessary disclosures in a timely and accurate manner, conforming to the principles governing disclosures under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has categorically denied withholding any material information or announcements that could influence price or volume behavior in its shares.

Market-Driven Volatility

The company has attributed the significant price movement observed across exchanges to purely market-driven factors. This clarification comes as part of the standard regulatory process where exchanges seek explanations for unusual price or volume movements in listed securities.

Ongoing Commitment to Transparency

Riddhi Display Equipments has reaffirmed its commitment to maintaining transparency with stock exchanges. The company has assured that it will continue to inform exchanges about any price-sensitive information as mandated under Regulation 30 of the SEBI regulations. The communication was signed by Managing Director Shaileshbhai Ratibhai Pipaliya, who holds DIN 00832768, emphasizing the company's commitment to regulatory compliance and investor transparency.