Attached herewith is the outcome of the Board meeting which was held on 21st March 2026. along with the details in the Annexure A.
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Garnet Construction Ltd informed the BSE that its Promoter, Managing Director and CFO Mr. Kishankumar Kedia passed away on 22 February 2026. The Board recorded its condolences at a meeting on 21 March 2026. To fill the leadership gap, Ms. Chahat Sanjaykumar Kedia (daughter of Sanjaykumar Kedia) was appointed as Additional Director, and Ms. Nikita Poddar, a qualified Chartered Accountant with over 8 years of corporate finance experience, was appointed as the new CFO. Both appointments are effective 23 March 2026 and are subject to shareholder approval where applicable.
While the sudden loss of the Promoter and MD/CFO is a significant negative event for the company, swift appointments of a family-member Director and an experienced external CFO may help maintain continuity and reassure shareholders. Investors should watch for how smoothly the transition stabilises operations and any further succession disclosures.