Uday Jewellery Industries Limited's board of directors held a comprehensive meeting on January 21, 2026, approving multiple strategic decisions aimed at enhancing the company's financial flexibility and operational capabilities. The meeting, which concluded at 11:10 a.m., addressed several key corporate governance and financial matters in compliance with SEBI regulations.

Investment and Financial Approvals

The board approved a significant investment framework, authorizing the company to invest up to ₹10.00 crores in shares and securities of other companies. This decision was made on the recommendation of the audit committee and pursuant to Section 186 of the Companies Act, 2013.

The board also approved omnibus approval for accepting Inter-Corporate Deposits from Sanghi Jewellers Private Limited, a promoter group entity. This related party transaction was approved under various sections of the Companies Act, 2013, and SEBI LODR Regulations, 2015, to utilize surplus funds in view of rising raw material costs.

Banking Operations Enhancement

A significant enhancement was made to the company's banking operations with ICICI Bank Limited. The board approved both a revision in the mode of operation and a substantial increase in the operating limit of the current bank account.

The enhanced account will be operated severally by three key personnel:

• Mr. Ritesh Kumar Sanghi (Managing Director)
• Mr. Sanjay Kumar Sanghi (Director)
• Mr. Uday Sanghi (Business Development Head)

Corporate Governance Updates

The board addressed important compliance requirements by reconstituting the Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The new committee structure ensures proper representation and compliance with statutory requirements.

Administrative Matters

The board also addressed routine administrative matters during the meeting. These included approval and noting of minutes from the previous board meeting held on November 14, 2025, review of action taken reports from previous discussions, and consideration of minutes from the audit committee meeting held earlier the same day. These procedural approvals ensure continuity in corporate governance and maintain proper documentation of board decisions and follow-up actions.

Uday Jewellery Industries Limited has initiated a merger with Narbada Gems and Jewellery Limited, marking a significant step towards consolidation in the jewellery sector. The company has published notices in prominent newspapers regarding a petition for a scheme of arrangement under Sections 230-232 of the Companies Act, 2013.

Merger Details

The proposed amalgamation involves:

• Transferor Company: Narbada Gems and Jewellery Limited
• Transferee Company: Uday Jewellery Industries Limited

Public Notification

Following the directions of the National Company Law Tribunal (NCLT), Hyderabad, Uday Jewellery Industries has published notices in two newspapers:

Regulatory Compliance

The company has informed the BSE Limited about this development under the SEBI listing regulations. The scrip code mentioned in the communication is 539518.

Upcoming Board Meeting

Uday Jewellery Industries has scheduled a board meeting to discuss several important matters:

1. Review and approval of unaudited financial results
2. Consideration of a related party transaction for additional office space
3. Review of investor complaints and related party transactions
4. Discussion on internal audit report and statutory compliances

Financial Stability

ICRA Limited has recently reaffirmed the company's credit rating:

This stable rating suggests that the company maintains a moderate degree of financial strength as it moves forward with its merger plans.

The proposed merger and upcoming board meeting indicate that Uday Jewellery Industries is taking strategic steps to strengthen its position in the jewellery market. Investors and stakeholders will be watching the outcomes of these corporate actions and their potential impact on the company's future growth trajectory.