Board meeting outcome for meeting held on 21-01-2026
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Uday Jewellery Industries' Board met on January 21, 2026 and approved several items. Key items include: (1) authorisation to invest up to ₹10 Crores in shares and securities of other companies, (2) omnibus approval to accept Inter-Corporate Deposits (ICDs) from Sanghi Jewellers Private Limited, a promoter group entity and related party, to help fund rising raw material costs, (3) enhancement of the ICICI Bank current account transaction limit from ₹1 Crore to ₹5 Crores, now to be operated severally by Ritesh Sanghi, Sanjay Sanghi and Uday Sanghi, and (4) reconstitution of the Internal Complaints Committee under the POSH Act with Mahima Sanghi as Presiding Officer.
The board has signalled rising working capital needs, likely tied to higher gold/raw material costs, by both accepting ICDs from the promoter group and increasing bank operating limits. Minority shareholders should note the related-party ICD, which warrants watching for terms (interest rate, tenure, repayment) in upcoming disclosures.