Swarnsarita Gems Ltd has applied to the Bombay Stock Exchange for the reclassification of two promoters, Seema R Chordia and Rajendra M Chordia, from the promoter group to the public category.

The company filed the application with the BSE on September 16, 2026, pursuant to Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors approved the request in a meeting held on August 3, 2026.

Shareholding Status

The applicants, who are spouses, currently hold zero equity shares in the listed entity. Their combined shareholding stands at 0% as on the date of the application.

Seema R Chordia transferred her remaining 20,000 shares (0.10%) on June 29, 2026. Rajendra M Chordia had previously transferred 1,14,003 shares (0.55%) on March 24, 2022.

Regulatory Compliance

The company confirmed that the outgoing promoters satisfy all conditions under Regulation 31A(3)(b). They do not exercise control over the company’s affairs, hold no special rights, and are not represented on the Board or as Key Managerial Personnel (KMP).

Because the promoters and their related persons hold less than 1% of the total voting rights, shareholder approval pursuant to Regulation 31A(3)(vi) is not required.

What the Numbers Show

The reclassification reflects a complete exit of these specific individuals from the equity structure while the broader promoter group retains significant control. The remaining promoter group holds 60.11% of the total voting rights, primarily through Swarnsarita Jewellers Pvt Ltd (44.82%) and other family members.

Notably, 66.93% of Swarnsarita Jewellers Pvt Ltd’s stake is pledged. This encumbrance covers 62,63,040 shares, representing approximately half of the total promoter group holding.

Swarnsarita Jewels India Limited shareholders have formally approved all five resolutions at its 34th Annual General Meeting (AGM), as confirmed by the final scrutinizer’s report. The results validate the appointment of Mr. Jash Amit Adani as an Independent Director and the re-appointment of Mrs. Rajul Chordia as Whole-time Director.

The scrutinizer, M/s. Deep Shukla & Associates, reported that all agenda items were duly approved by members via remote e-voting and poll voting conducted during the meeting held on August 27, 2026. The record date for voting rights was August 20, 2026.

Voting Results by Resolution

The final voting data reveals strong support from promoter shareholders, who voted 100% in favour of all resolutions. Public non-institutional shareholders showed varying levels of support, with approval rates ranging between 68.44% and 68.78% for the special resolutions.

Promoter vs Public Shareholder Voting

The detailed breakdown highlights a divergence in voting patterns between promoter and public shareholders:

• Promoter Group: Held 12,548,456 shares (60.11% of total capital). Polled 9,454,309 votes, representing 75.34% of outstanding shares. Voted 100% in favour for all five resolutions.
• Public Non-Institutions: Held 8,322,363 shares (39.86% of total capital). Polled approximately 1,242,000 votes. Support ranged from 68.44% to 68.78% in favour.
• Public Institutions: Held 5,981 shares. Did not participate in e-voting or poll voting.

No invalid votes were recorded for any resolution. No members demanded a poll during the physical meeting.

Key Appointments Confirmed

Mrs. Rajul Chordia has been re-appointed as Whole-time Director for a five-year term from September 27, 2026, to September 26, 2031. Her appointment required a special resolution due to the duration of the tenure. She possesses experience and knowledge of the Gems and Diamond Industry, with good knowledge of designing and marketing. She is related to Sunny Mahendra Chordia, Whole-time Director (husband), and Mahendra Madanlal Chordia, Managing Director (father-in-law).

Mr. Jash Amit Adani’s appointment as Independent Director was also ratified via special resolution. He will hold office for a consecutive term of five years, commencing May 28, 2026, and ending May 27, 2031. The company had previously issued a corrigendum on August 25, 2026, to change this resolution from Ordinary to Special to comply with the Companies Act, 2013 requirement for a 75% majority vote. He is a postgraduate in Management (Finance) from IBS Mumbai and graduated in Accounts and Finance from S M Shetty College Mumbai. He has more than five years' experience in the E-commerce industry and vast knowledge of finance and strategic matters. He is not related to any director of the company.

Meeting Participation Details

The AGM was chaired by Managing Director Mr. Mahendra Madanlal Chordia at Sai Leela Hall in Mumbai. A total of 38 members were present in person, comprising five promoters and 33 public shareholders. This represented 64.16% of total holdings among those present.

Remote e-voting was conducted via the National Securities Depository Limited (NSDL) portal between August 24 and August 26, 2026. The total number of shareholders on the record date was 8,903. The company secretary, Mr. Deepak Suthar, confirmed that no proxy requests were received.