NewsGujarat Craft Industries Ltd Executes Addendum to Shareholder Voting Authorization AgreementGujarat Craft Industries Ltd Executes Addendum to Shareholder Voting Authorization Agreement
Gujarat Craft Industries Ltd executed an addendum on 29th January, 2026, to its Shareholder Voting Authorization Agreement originally dated 22nd November, 2025. The addendum adds the company as a confirming party and includes provisions to protect lender bank SBI's rights. The agreement involves promoters Ms. Sushma Chhajer (39.33% shareholding) and Mr. Rishab Chhajer (14.83% shareholding), with the disclosure made under SEBI (LODR) Regulations, 2015.
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Gujarat Craft Industries Ltd has disclosed the execution of an addendum to its Shareholder Voting Authorization Agreement under Regulation 30 of SEBI (LODR) Regulations, 2015. The addendum was executed on 29th January, 2026, modifying the original agreement dated 22nd November, 2025.
Agreement Parties and Structure
The addendum involves key promoters of the company who are parties to the original shareholder voting agreement. The agreement structure includes specific shareholding patterns and party designations.
| Parameter: | Details |
|---|---|
| Primary Parties: | Ms. Sushma Chhajer (Promoter), Mr. Rishab Chhajer (Chairman & Managing Director - Promoter) |
| Company Role: | Added as Confirming Party |
| Ms. Sushma Chhajer Shareholding: | 39.33% |
| Mr. Rishab Chhajer Shareholding: | 14.83% |
| Original Agreement Date: | 22nd November, 2025 |
| Addendum Execution Date: | 29th January, 2026 |
Purpose and Scope of Amendment
The addendum serves to strengthen the original agreement by incorporating additional protections and formally including the company as a party. The modification addresses specific banking relationship requirements and enhances the agreement's comprehensive coverage.
The primary purpose of the addendum is to include and amend clauses relating to protection of lender bank SBI's rights. Additionally, the amendment formally adds Gujarat Craft Industries Limited as a party to the original agreement in the capacity of a confirming party, which was not the case in the initial agreement structure.
Regulatory Compliance and Disclosure
The company has fulfilled its disclosure obligations under SEBI regulations by providing comprehensive details of the agreement modification. The disclosure follows the prescribed format under Regulation 30(3) read with Clause 5 of Para B of Part A of Schedule III of SEBI (LODR) Regulations, 2015.
| Compliance Aspect: | Status |
|---|---|
| Related Party Transaction: | Not applicable |
| Special Rights Creation: | Not applicable |
| Share Issuance: | Not applicable |
| Loan Agreement: | Not applicable |
Corporate Governance Impact
The addendum represents a structured approach to shareholder agreements within the promoter group while ensuring compliance with regulatory requirements. Both parties to the agreement are promoters of the company, maintaining the internal nature of the voting authorization arrangement.
The modification does not create any special rights such as director appointment rights, first right to share subscription, or rights to restrict capital structure changes. The agreement remains focused on its core purpose of shareholder voting coordination while now providing additional protections for the lender bank's interests.
Historical Stock Returns for Gujarat Craft Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.26% | +3.10% | +0.59% | -9.40% | -34.29% | 0.0% |
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