Market creators Limited has announced the sad demise of Mr. Rashmikant Gajendraprasad Acharya, Whole-time Director of the company, who passed away on March 07, 2026. The company made this disclosure to BSE Limited on March 09, 2026, and subsequently filed a clarification letter on March 11, 2026, addressing BSE's discrepancy remarks regarding the delayed disclosure.

Director Details and Contributions

Mr. Rashmikant Gajendraprasad Acharya served as a Whole-time Director with DIN: 00051572. The company emphasized his long association and significant contributions to the organization through his vision and leadership during his tenure on the Board.

BSE Discrepancy and Company Response

BSE Limited raised a discrepancy remark noting that the material event was not disclosed within the mandatory 24-hour timeframe as required under SEBI Circular dated November 11, 2024. The exchange requested the company to submit reasons for the delay in disclosure.

Market Creators Limited responded through a detailed clarification letter, explaining that the news of Mr. Acharya's demise came as a shock to the management and promoter family. The company highlighted that this was the second demise of a Promoter Director within four months, and the management was attending to immediate family matters and last rites during the difficult period.

Company's Statement and Regulatory Compliance

Market Creators Limited described Mr. Acharya's sudden and unexpected passing as an irreparable loss to the company. The organization acknowledged that his tenure on the Board immensely benefited the company through his leadership and strategic vision. All directors and employees conveyed deep sympathy, sorrow, and condolences to his family.

The company emphasized in its clarification that there was no malafide intention or deliberate delay in making the disclosure, stating that the delay occurred purely due to unforeseen circumstances. The notification was submitted under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015.

Both the original disclosure and clarification letter were signed by Mr. Kalpesh Jayantilal Shah, Director (DIN: 00051760), on behalf of Market Creators Limited, requesting the stock exchange to take the intimation on record for compliance purposes.

Market Creators has officially appointed Ms. Vaishali Kalpesh Shah as Whole Time Director following overwhelming shareholder approval through postal ballot. The company submitted formal intimation to BSE Limited under Regulation 30 of SEBI (LODR) Regulations, 2015, confirming the appointment with comprehensive director details and compliance documentation.

Formal Appointment and Regulatory Compliance

The company completed the formal submission on March 09, 2026, following the successful conclusion of the postal ballot process. The appointment was approved by shareholders through special resolution on March 07, 2026, with documentation submitted under Regulation 30 of SEBI (LODR) Regulations, 2015.

Director Appointment Details

Ms. Vaishali Kalpesh Shah (DIN: 11414073) has been appointed as Whole Time Director (Executive) for a five-year term. The appointment represents a change in designation and includes specific remuneration structure and tenure details.

Voting Results and Shareholder Support

Both resolutions concerning Ms. Vaishali Kalpesh Shah received exceptional shareholder support with 99.89% approval. The voting process demonstrated strong confidence across all shareholder categories, with unanimous support from promoter and promoter group.

Director Profile and Professional Background

Ms. Vaishali Kalpesh Shah brings over 25 years of experience in Market Creators' Mutual Fund distribution business. As a Chemical Engineer by qualification, she has been instrumental in building and managing the firm's investment advisory ecosystem with her analytical approach and deep market understanding.

Her professional expertise includes scaling Market Creators' investment advisory operations, ensuring compliance and personalised investor engagement. She has played an integral role in the company's growth through her technical education, market insight, and client-centric approach to wealth creation.

Family Relationships and Compliance Status

Ms. Vaishali Kalpesh Shah is the wife of Mr. Kalpesh Shah and daughter-in-law of Ms. Neela J. Shah. The company confirmed that she is not debarred from holding the office of Director by virtue of any SEBI Order or any other regulatory authority, ensuring full compliance with BSE Circular requirements.

The successful appointment strengthens Market Creators Ltd's leadership structure and demonstrates strong shareholder confidence in the company's strategic direction and management capabilities.