Shashwat Furnishing Board Re-appointments and New Appointments

The meeting commenced at 07:00 PM and concluded at 07:30 PM.

Director Re-appointments

1. Mr. Hitesh Karnawat (DIN: 09097273) was re-appointed as Chairman and Managing Director for a term of 5 years from September 4, 2026 to September 3, 2031, subject to shareholder approval. He holds 11,24,850 equity shares (53.87% of company). Age 37, commerce graduate with honors, has over 12 years of industry experience. Relationships: Brother-in-law of Mayuri Karnawat, son of Lalit Ghewarchand Karnawat.

2. Mr. Lalit Ghewarchand Karnawat (DIN: 09097274) was re-appointed as Whole-Time Director for 5 years from September 4, 2026 to September 3, 2031, subject to shareholder approval. He holds 250 equity shares (0.01% of company). Age 67, matriculate, has 7 years of industry experience. Relationships: Father-in-law of Mayuri Karnawat, father of Hitesh Karnawat.

3. Mrs. Mayuri Karnawat (DIN: 09276591) was re-appointed as Whole-Time Director for 5 years from September 4, 2026 to September 3, 2031, subject to shareholder approval. She holds 85,000 equity shares (4.07% of company). Age 40, has 8 years of industry experience. Relationships: Daughter-in-law of Lalit Ghewarchand Karnawat, sister-in-law of Hitesh Karnawat.

New Director Appointments

4. Mr. Devesh Bhati (DIN: 07415367) was appointed as Non-Executive Independent Director for 5 years from September 4, 2026 to September 3, 2031, subject to shareholder approval. Qualified Company Secretary with expertise in corporate laws, secretarial compliances, and regulatory advisory. Holds no equity shares. Not related to any director or KMP.

5. Mr. Jagdish Jangid (DIN: 10671712) was appointed as Non-Executive Independent Director for 5 years from September 4, 2026 to September 3, 2031, subject to shareholder approval. Chartered Accountant with approximately 9 years of professional experience in financial management, accounting, taxation, and government projects. Previously worked with Tata Consultancy Services. Holds no equity shares. Not related to any director or KMP.

6. Mrs. Sweta Duggar was appointed as Non-Executive Independent Director for 5 years from September 4, 2026 to September 3, 2031, subject to shareholder approval. Company Secretary associated with Tirupati Lease Limited since March 20, 2020. Expertise in corporate laws, securities laws, and corporate governance. Holds no equity shares. Not related to any director or KMP.

Director Cessations

7. Mr. Adesh Bhansali (DIN: 09298681) completed his term as Independent Director and ceased to be director effective September 4, 2026.

8. Mr. Praveen Kumar Bokariya (DIN: 08028204) completed his term as Independent Director and ceased to be director effective September 4, 2026.

9. Mr. Neelabh Gotecha (DIN: 09297849) completed his term as Independent Director and ceased to be director effective September 4, 2026.

Compliance Statements

For all appointments, the company affirmed pursuant to BSE Circular LIST/COMP/14/2018-19 that none of the directors are debarred from holding their respective offices by virtue of any SEBI order or authority.

The disclosure was made under Regulation 30 of SEBI Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 (Master Circular) read with SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.