In continuous of Announcement under Regulation 30(LODR)-Demise submitted on 02.12.2025, Revised intimation of sad demise of Mr. Jayantilal Harkisondas Shah
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Market Creators Ltd informed BSE about the passing away of Mr. Jayantilal Harkisondas Shah, who served as both CFO and Director (DIN: 00051917) of the company, on November 23, 2025. The company initially disclosed this on December 2, 2025, which was 9 days after the event. BSE flagged this as a discrepancy since SEBI LODR rules require disclosure of changes in key managerial personnel within 24 hours. The company responded on December 15, 2025, attributing the delay to an inadvertent oversight and committing to strengthen internal controls. The clarification was signed by another director, Mr. Kalpesh Jayantilal Shah, likely a family member of the deceased.
The company has lost both its CFO and a Director, which creates immediate leadership gaps in finance and board oversight. The delayed disclosure and resulting BSE flag raise minor governance concerns, though the company has committed to improved compliance going forward. Shareholders should watch for any upcoming announcements about filling the vacant CFO and Director positions.