Shashwat Furnishing Solutions reappointed its promoter directors and appointed three new independent directors to its Board on September 3, 2026. The changes follow the expiry of terms for existing members and require shareholder approval at the forthcoming General Meeting.

The Board approved the reappointment of Hitesh Karnawat as Chairman and Managing Director, Lalit Ghewarchand Karnawat as Whole-Time Director, and Mayuri Karnawat as Whole-Time Director. Each will serve a five-year term from September 4, 2026, to September 3, 2031.

New Independent Directors

The company appointed three additional directors in the category of Non-Executive Independent Directors:

• Devesh Bhati, a Company Secretary with expertise in corporate laws and regulatory advisory.
• Jagdish Jangid, a Chartered Accountant with experience in financial management and government projects.
• Sweta Duggar, a Company Secretary associated with Tirupati Lease Limited.

All three new appointees hold no equity shares in the company and are unrelated to existing directors or key managerial personnel.

Cessation of Directors

Three independent directors ceased to hold office effective September 4, 2026, upon completion of their tenures:

• Adesh Bhansali
• Praveen Kumar Bokariya
• Neelabh Gotecha

Promoter Shareholding

Hitesh Karnawat holds 11,24,850 equity shares, representing 53.87% of the company's equity. Mayuri Karnawat holds 85,000 shares (4.07%), while Lalit Ghewarchand Karnawat holds 250 shares (0.01%).

Shashwat Furnishing Solutions shareholders approved the transfer of its entire equity stake in subsidiary Dhruvanshi Agrotech Private Limited to Mrs. Mayuri Karnawat and Mr. Piyush Karnawat during its sixth annual general meeting.

The meeting, held on August 31, 2026, in Jodhpur, Rajasthan, also saw the adoption of the company's audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026. Mr. Lalit Ghewarchand Karnawat was re-appointed as a director by rotation.

Meeting Proceedings

The AGM commenced at 3:00 pm and concluded at 3:20 pm. Hitesh Karnawat, Chairman and Managing Director, chaired the proceedings. All directors and key managerial personnel were present at the venue located at 121, Mahaveer Nagar, Jain Colony.

The company provided remote e-voting facilities to all members entitled to vote, in compliance with Section 108 of the Companies Act 2013 and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The voting window ran from 9:00 am on August 28, 2026, to 5:00 pm on August 30, 2026, with National Securities Depository Limited engaged as the scrutinizer.

Resolutions Passed

Shareholders voted on three key resolutions:

• Adoption of audited financial statements for FY26 along with board and auditor reports.
• Re-appointment of Mr. Lalit Ghewarchand Karnawat as director.
• Approval for the sale of the company’s investment in Dhruvanshi Agrotech Private Limited to Mrs. Mayuri Karnawat and Mr. Piyush Karnawat.

Mr. Shailesh Rastogi, a practicing chartered accountant, was appointed as the scrutinizer to ensure fair and transparent voting. The consolidated results of the remote e-voting and physical voting were scheduled for announcement within two working days of the meeting's conclusion.