Market Creators Limited has announced key leadership appointments following a board meeting held on December 11, 2025. The company appointed Ms. Vaishali Kalpesh Shah to dual roles as Additional Director and Chief Financial Officer, marking a significant development in the organization's executive structure.

Board Meeting Outcomes

The Board of Directors, acting on the recommendation of the Nomination and Remuneration Committee, made the following appointments during their meeting:

The board meeting commenced at 11:30 AM IST and concluded at 12:15 PM IST on December 11, 2025.

Professional Background and Qualifications

Ms. Vaishali Kalpesh Shah brings substantial experience to her new roles at Market Creators Limited. Her professional profile highlights include:

Her expertise spans investment advisory ecosystem management, ensuring seamless operations, compliance, and personalized investor engagement. Ms. Shah has been recognized as a trusted name among investors seeking long-term, disciplined wealth creation strategies.

Regulatory Compliance and Relationships

The appointment follows all regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Key compliance details include:

Strategic Impact

Ms. Shah's appointment reflects Market Creators Limited's commitment to strengthening its leadership team with experienced professionals. Her blend of technical education, market insight, and intuitive understanding of client behavior is expected to provide balanced strength to the organization. The company emphasized her role in scaling the investment advisory ecosystem and her dedication to helping investors achieve clarity, confidence, and long-term financial success.

The dual appointment positions Ms. Shah to oversee both strategic direction as a board member and financial operations as CFO, potentially enhancing coordination between governance and operational functions at Market Creators Limited.

Market Creators has announced the sad demise of Mr. Jayantilal Harkisondas Shah, who served as the company's Chief Financial Officer (CFO) and Director. The company reported that Mr. Shah passed away on November 23, 2025.

BSE Clarification on Filing Delay

On December 15, 2025, Market Creators submitted a clarification letter to BSE Limited addressing discrepancy remarks received for the corporate announcement filed under Regulation 30 of SEBI (LODR) Regulations, 2015. The BSE had noted that the material event was not disclosed within the mandatory 24-hour timeframe.

Company's Response to Compliance Issue

In its clarification letter, Market Creators explained that the delay occurred due to an inadvertent oversight in the timely filing of the disclosure under applicable provisions. The company emphasized several key points:

• Unintentional Delay: The delay was without any malafide intent
• Immediate Action: Upon becoming aware, the company took immediate corrective steps
• Compliance Commitment: Reaffirmed commitment to full compliance with SEBI regulations
• Internal Controls: Strengthening internal controls to ensure timely compliance going forward

Impact on the Company

In its official statement, Market Creators expressed that Mr. Shah's sudden and unexpected passing represents an irreparable loss to the organization. The company highlighted the significant contributions made by Mr. Shah during his tenure:

Regulatory Compliance Framework

As per Part A of Schedule III of SEBI (LODR) Regulations, 2015, changes in directors and key managerial personnel must be disclosed to stock exchanges within 24 hours of the occurrence of the event. The clarification was signed by Mr. Kalpesh Jayantilal Shah, Director (DIN: 00051760), demonstrating the company's commitment to addressing regulatory concerns promptly.

This development underscores the importance of timely regulatory compliance in corporate governance and the potential scrutiny companies face for delayed disclosures, even in sensitive circumstances such as the death of key personnel.