Outcome of the Postal Ballot Notice dated January 29, 2026
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Shareholders of Rose Merc Ltd approved four key resolutions via postal ballot on February 28, 2026. Ms. Eshwari Purvesh Shelatkar was regularised as Executive Director for a 5-year term; she is the daughter of existing Executive Director Mr. Purvesh Krishna Shelatkar. Ms. Vaishali Parkar Kumar's designation was changed from Whole Time Director & CFO to Managing Director & CFO, effective January 29, 2026, for her remaining term till October 15, 2028. The company's Authorised Share Capital will be raised from Rs. 20 crore to Rs. 25 crore (divided into 2.5 crore equity shares of Rs. 10 each). Additionally, the Object Clause of the Memorandum of Association was altered, with the existing main object (precious stones, jewellery, etc.) shifted to the other objects clause, and a new main object covering real estate (land, buildings, property development) was inserted.
The board changes strengthen the family ownership influence with the Shelatkar family now having two directors. The authorised capital increase of Rs. 5 crore provides headroom for future fundraising or stock splits. The shift in main object toward real estate signals a potential diversification away from the core jewellery/luxury business, which investors should monitor closely.