Rolex Rings Limited has accepted the resignation of Hardik Dhimantbhai Gandhi from the position of Company Secretary and Compliance Officer. The resignation is effective from the close of business hours on October 7, 2026.

Gandhi submitted his resignation letter on September 26, 2026, citing a desire to pursue a better career opportunity. The company confirmed that there are no other material reasons for his departure beyond those stated in the letter. The Board of Directors accepted the resignation on October 2, 2026, and recorded it in their minutes.

Regulatory Disclosure Details

The intimation was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. As a Key Managerial Personnel (KMP), Gandhi’s cessation marks a change in the company’s compliance leadership structure.

The company stated that necessary formalities regarding the resignation, including filings with the Registrar of Companies and intimations to stock exchanges, will be completed in due course. Gandhi also requested the board to file necessary forms with regulatory authorities as per statutory provisions.

Rolex Rings Limited approved all three ordinary resolutions proposed at its 24th Annual General Meeting (AGM) held on September 24, 2026. The meeting was conducted via Video Conferencing and Other Audio-Visual Means (VC/OAVM). The company’s Board of Directors received the consolidated scrutinizer’s report confirming the requisite majority for each item.

The first resolution, to receive and adopt the audited financial statements for the year ended March 31, 2026, along with Board and Auditor reports, passed with 99.9998% votes in favour. Only 276 votes were cast against this resolution out of 162,133,291 total votes polled. Public institutions voted unanimously in support, while public non-institutional shareholders recorded minimal dissent.

Director Re-appointment and Auditor Ratification

The second resolution concerned the re-appointment of Mr. Bhautik Dayashankar Madeka as a director retiring by rotation. This resolution passed with 99.8998% votes in favour. Notably, Mr. Madeka and two other promoters abstained from voting on this item due to their interest in the resolution. Consequently, the total valid votes cast were lower than for other items, with 113,287 votes recorded against the appointment.

The third resolution, ratifying the remuneration of Cost Auditors for the financial year ending March 31, 2027, was also approved. It secured 99.9975% votes in favour, with 4,129 votes against. The voting pattern remained consistent across categories, with promoter groups and public institutions largely supporting the management’s proposals.

Voting Participation Overview

A total of 123 members cast their votes during the remote e-voting period and during the live AGM session. These members represented 162,133,291 shares. The table below summarizes the voting outcomes for each resolution:

What the Numbers Show

The voting data reveals a significant divergence in participation levels between the adoption of financial statements and the director re-appointment. While 162,133,291 shares were voted on for the financial statements, only 113,014,231 shares were effectively counted for the director re-appointment due to promoter abstentions. This indicates that promoters holding approximately 49 million shares recused themselves from voting on the re-appointment of Mr. Madeka, a procedural necessity given their direct interest. Despite this reduced base, the overwhelming support from public institutions (99.8599% in favour) ensured the resolution’s passage.