Shareholders of Royal India Corporation Limited approved the appointment of Rishabh Sareen as an Executive and Non-Independent Director with overwhelming support during its Extra-Ordinary General Meeting (EGM) held on July 30, 2026. The special resolution passed with 99.93% of valid votes cast in favor, formalizing Sareen’s role within the company’s leadership structure. The meeting, conducted via Video Conferencing/Other Audio-Visual Mode (VC/OAVM), saw participation from 105 members who voted through remote e-voting or at the meeting, reflecting strong shareholder engagement in this governance matter.

The EGM was convened in accordance with Regulation 30(6) read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Section 108 of the Companies Act, 2013. Nitin Kamalkishore Gujral, Chairman and Managing Director, presided over the proceedings. M/s. Kaushal Doshi & Associates served as the Scrutinizer for the voting process, ensuring compliance with regulatory standards. Voting rights were determined based on shareholding as of the cut-off date, July 23, 2026.

Voting Results

The resolution to approve Rishabh Sareen’s appointment and remuneration received significant backing from public non-institutional shareholders, while promoter group members abstained from voting as they were not interested parties. The detailed voting breakdown is presented below:

Remote e-voting was conducted from July 27, 2026, to July 29, 2026, via National Securities Depository Limited (NSDL). At the meeting, 23 members cast votes electronically, contributing significantly to the final tally. Only one member voted against the resolution, casting 6,000 votes.

Key Attendees

The following directors participated in the meeting via VC:

Saurav Sharma, Executive Director, was unable to attend due to prior commitments. Mohit Kothari, Chief Financial Officer, and Jinal Shah, Company Secretary, represented the management team.

What the Numbers Show

The near-unanimous support for Rishabh Sareen’s appointment underscores shareholder confidence in the company’s leadership transition. With 99.93% approval, the resolution reflects minimal dissent among participating stakeholders. The absence of promoter voting aligns with standard governance practices where interested directors abstain from related-party transactions. This appointment strengthens the executive team, adding operational depth to the board’s oversight capabilities.

Royal India Corporation Limited has scheduled an Extra-Ordinary General Meeting (EGM) on July 30, 2026, to seek shareholder approval for the appointment of Mr. Rishabh Sareen as Executive and Non-Independent Director. The meeting will be conducted through Video Conferencing (VC) or Other Audio-Visual Means (OAVM) at 11:45 A.M. IST. The appointment is proposed for a tenure of five years, effective from April 30, 2026, with remuneration not exceeding ₹6,00,000 per annum.

The Board has approved the convening of the EGM to comply with Regulation 17(1C) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice for the meeting was sent on July 8, 2026, electronically to members whose email addresses are registered with the company or its Registrar & Share Transfer Agent (RTA), MUFG Intime India Pvt. Ltd., with no physical copies being dispatched. The company has engaged NSDL to facilitate the remote e-voting process.

Key Meeting Details

Members attending the meeting through VC/OAVM shall be counted for the purpose of quorum under Section 103 of the Companies Act, 2013. Shareholders holding shares in physical form or those whose email addresses are not registered are advised to update their details with the RTA to ensure they receive the notice and can participate in the e-voting process. The register of members and share transfer books will remain closed from July 24, 2026, to July 30, 2026.