Garnet Construction Ltd Announces Demise of Managing Director and CFO Kishankumar Kedia

1 min read Updated on 23 Feb 2026, 01:28 PM

Reviewed by

Jubin VScanX News Team

Overview

Garnet Construction Ltd announced the demise of Mr. Kishankumar Jugalkishore Kedia, who served as Promoter, Managing Director, and CFO. He passed away on 22nd February, 2026, and held 40,82,909 equity shares representing 29.37% stake in the company. Appointed as Managing Director on 30th September, 2021, his passing is described as an irreparable loss to the organization. Following his demise, he will cease to be a promoter under SEBI regulations.

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Garnet Construction Ltd has announced the demise of Mr. Kishankumar Jugalkishore Kedia, who served as the company's Promoter, Managing Director, and Chief Financial Officer. The company was informed of his passing on 23rd February, 2026, with Mr. Kedia having passed away on 22nd February, 2026.

Leadership Role and Shareholding

Mr. Kishankumar Jugalkishore Kedia held significant positions within the company structure and maintained a substantial ownership stake.

Parameter	Details
Designation	Managing Director and CFO
DIN	00205146
Appointment Date	30th September, 2021
Shareholding	40,82,909 Equity Shares
Ownership Percentage	29.37%
Status	Promoter

Mr. Kedia was appointed as Managing Director on 30th September, 2021, and played crucial leadership roles through which the company immensely benefited. His dual role as both Managing Director and CFO positioned him as a key decision-maker in the company's operations and financial management.

Regulatory Compliance and Impact

The company has fulfilled its disclosure obligations under SEBI regulations following this development. In compliance with Regulation 30 and 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Garnet Construction Ltd has informed the stock exchange about this significant change in leadership.

Regulatory Aspect	Details
Reason for Change	Death
Date of Cessation	22nd February, 2026
Family Relationships	Father of Arun Kedia and Sanjay Kedia
Promoter Status	Will cease as per Regulation 31A(6)(c)

Following his demise, Mr. Kedia will cease to be a promoter of the company in accordance with Regulation 31A(6)(c) of the SEBI LODR Regulations. This change will have implications for the company's promoter group structure and shareholding pattern.

Company Response

The company has acknowledged the significant impact of this loss on its operations and leadership structure. All directors and employees of the company have conveyed deep sympathy, sorrow, and condolences to his family. The company described Mr. Kishankumar Jugalkishore Kedia's sudden and unexpected passing as an irreparable loss to the organization.

The notification was signed by Neha Varma, Company Secretary and Compliance Officer, who ensured proper regulatory compliance and timely disclosure to stakeholders. The company maintains its registered and corporate office at 501/531, Laxmi Mall, Laxmi Industrial Estate, New Link Road, Andheri (W), Mumbai.

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