Vashishtha Luxury Fashion Limited shareholders have approved the revision of remuneration for its Managing Director and Executive Director, alongside material related party transactions, through a postal ballot process that concluded on June 14, 2026. The resolutions were passed with the requisite majority based on the scrutinizer's report submitted by Riddhishree Tanna of R.B. Tanna & Associates.

The postal ballot sought shareholder approval for four ordinary resolutions. These included revising the remuneration terms for Ravindra Dilip Dhareshivkar, Managing Director (DIN: 08202758), and Mustak Odiya, Executive Director (DIN: 08202757). Additionally, the vote covered material related party transactions with Vashishtha Embroideries Private Limited and Anas Embroideries.

The e-voting process was managed by National Securities Depository Limited (NSDL). The voting period opened on May 16, 2026, and closed on June 14, 2026. The record date for determining shareholder eligibility was May 8, 2026, with a total of 150 shareholders listed on the records.

Voting Results Summary

The resolutions regarding related party transactions received unanimous support from the public non-institutional shareholders who participated. The remuneration revisions, however, saw some dissent from the public non-institutional category.

The promoter and promoter group held 1,557,558 shares but did not cast votes on the related party transactions. For the remuneration resolutions, the promoter group cast 1,557,506 votes in favour. Public non-institutional shareholders held 799,200 shares, with 153,600 votes polled for the related party resolutions and 171,106 votes polled for the remuneration resolutions.

The scrutinizer confirmed that all four resolutions were passed with the requisite majority. The results have been submitted to BSE Limited pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Vashishtha Luxury Fashion Limited has achieved significant international visibility after a couture garment featuring its embroidery craftsmanship was showcased at the Cannes Film Festival 2026. The development strengthens the company's positioning in the global luxury fashion and couture embroidery segment. The intimation was made to BSE Limited on May 26, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The custom gown was created for the brand Mary Katrantzou and worn by acclaimed actress Gillian Anderson on the Cannes red carpet. Vashishtha Luxury Fashion Limited developed the sculptural embroidery for the piece, which incorporated handcrafted sequin work, reflective layering, and contour detailing.

The design utilized dimensional wave formations to create a striking illusion effect. This showcase highlights the company's capability in high fashion hand embroideries and accessories on a global platform.

The company confirmed that this information was submitted for dissemination and record purposes. Krupali Thakkar, Company Secretary & Compliance Officer, authorized the disclosure.