Vashishtha Luxury Fashion Limited has initiated a postal ballot process seeking shareholder approval for material related party transactions (RPTs) and revisions in the remuneration of its key managerial personnel. In the latest development, the company filed an intimation with BSE Limited on May 15, 2026, confirming the publication of newspaper advertisements regarding the Postal Ballot Notice and e-voting information in Financial Express (English) and Mumbai Lakshdeep (Marathi), pursuant to Regulation 30 and 47 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was signed by Krupali Thakkar, Company Secretary & Compliance Officer (ACS: A42594).

Postal Ballot Schedule

The key dates governing shareholder participation in the postal ballot process are outlined below.

Material Related Party Transactions

The Board has approved transactions with two entities, subject to shareholder ratification. The following table summarises the proposed RPTs for which approval is being sought.

Executive Remuneration Revisions

Based on the recommendation of the Nomination and Remuneration Committee, the company seeks approval to revise the remuneration for Mr. Ravindra Dhareshivkar, Managing Director, and Mr. Mustak Odiya, Executive Director. The revisions are effective from April 1, 2026, to March 31, 2028. The proposed remuneration structure for both executives is detailed below.

Administrative Details

The results of the postal ballot will be announced within two working days of the conclusion of the voting period and will be made available on the company's website and the BSE Limited platform. Members whose email IDs are not registered with the Company or Depository Participant(s) as on the cut-off date are requested to register by writing to the Registrar and Transfer Agent, Bigshare Services Private Limited, at investor@bigshareonline.com , or to the Company at cs@vashishthaluxuryfashion.com .

Vashishtha Luxury Fashion Limited, a company specializing in high fashion hand embroideries and accessories, has formally notified BSE Limited regarding its non-applicability under the Large Corporate criteria for debt securities issuance as per SEBI regulations.

Regulatory Compliance Declaration

The company submitted its annual disclosure on April 17, 2026, through a formal communication to BSE Limited. In the disclosure, Vashishtha Luxury Fashion Limited confirmed that it does not meet the Large Corporate criteria established under specific SEBI regulations governing debt securities issuance by large entities.

SEBI Regulatory Framework

The disclosure references two key SEBI circulars that establish the framework for large corporate debt securities issuance. The primary regulation is outlined in SEBI Circular no. SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, which was subsequently updated through SEBI Operational Circular No. SEBI/HO/DDHS/DDHSRACPOD1/P/CIR/2023/172 dated October 19, 2023.

These regulations specifically target large entities and establish mandatory disclosure requirements for companies seeking to raise funds through debt securities issuance. The framework includes provisions for Initial Disclosure in a prescribed Annexure-A format.

Exemption Status

Since Vashishtha Luxury Fashion Limited does not qualify as a Large Corporate under the specified criteria, the company is exempt from the mandatory disclosure requirements. This exemption means the company is not required to furnish the Initial Disclosure in the prescribed Annexure-A format as outlined in the SEBI circulars.

The formal declaration was digitally signed by Krupali Thakkar, who serves as the Company Secretary and Compliance Officer with ACS certification number A42594. The digital signature was applied on April 17, 2026, at 17:14:44 +05'30', ensuring the authenticity and legal validity of the submission.