Rolex Rings Limited has announced the certified true copy of the proceedings of the Postal Ballot, declared on March 2, 2026. The resolutions, passed by the members on March 1, 2026, via postal ballot, included the approval for the revision in remuneration for key management personnel and the re-classification of certain promoter group shareholders to public shareholders. Specifically, the shareholders approved the revision in monthly remuneration for Mr. Manesh Dayashankar Madeka, Chairman & Managing Director, to ₹14,00,000, effective November 10, 2025. Similarly, Mr. Bhautik Dayashankar Madeka, Whole time Director, will receive a revised monthly remuneration of ₹14,00,000, and Mr. Mihir Rupeshkumar Madeka, Whole time Director, will receive ₹10,00,000 per month, both also effective from November 10, 2025. Furthermore, an ordinary resolution was passed for the re-classification of Hemal Paresh Madeka and Sanjay Bhagwanji Bole from the 'Promoter Group' shareholder category to the 'Public' shareholder category. Hemal Paresh Madeka held 30,90,000 equity shares, representing 1.13% of the total paid-up share capital, prior to this re-classification. The company had obtained no objection for this re-classification from BSE Limited and the National Stock Exchange of India Limited on January 21, 2026.
