Appointment of Statutory Auditor in Casual Vacancy

Milestone Group MILESTONE FURNITURE LIMITED Date: 17/09/2026 BSE Ltd. Department of Corporate Services, Listing Compliance, Floor 25, P J Towers, Dalal Street, Mumbai-400 001 Scrip Code: 541337 Subject: Outcome of the Meeting of the Board of Directors held on 17 September 2026 pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir / Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”), read with Part A of Schedule III of the SEBI LODR Regulations, we wish to inform you that the Meeting of the Board of Directors of Milestone Furniture Limited (“the Company”) was held today i.e. Thursday, 17 September, 2026 at the registered office of the Company situated at Level 4, DYNASTY Business Park, A Wing, Andheri- Kurla Road, J.B. Nagar, Mumbai - 400059, wherein the Board, inter alia, considered and approved the following matters: 1. OCD Conversion Notice & Deferment of Allotment: Took on record formal conversion notices from holders of Unlisted Secured Optionally Convertible Debentures (OCDs) aggregating to %5,74,60,000/- seeking conversion into Equity Shares. Acknowledging the procedural omission of prior in-principle approval under Regulation 28(1) of SEB! LODR, the Board explicitly deferred share allotment pending post-facto in-principle approval from Stock Exchanges and authorized condonation applications. 2. Increase in Authorised Share Capital: Approved an increase in the Authorised Share Capital of the Company from 210,00,00,000/- (Rupees Ten Crores Only) divided into 1,00,00,000 Equity Shares of %10/- each to %60,00,00,000/- (Rupees Sixty Crores Only) divided into 6,00,00,000 Equity Shares of %10/- each, and consequential alteration of Clause V (Capital Clause) of the Memorandum of Association, subject to shareholder approval. CIN: L36912MH20 14PLC254131 Regd. Office: LEVEL 4, DYNASTY BUSINESS PARK, A WING, ANDHERI-KURLA ROAD, J.B. NAGAR, MUMBAI, MAHARASHTRA, INDIA, 400059 Email ID. Director1@milestonefurniture.in, Ph. No. 9041009921 Website: www.milestonefurniture.in Milestone Group MILESTONE FURNITURE LIMITED 3. Resignation of Statutory Auditor: Took on record the resignation letter dated 28.07.2026 submitted by M/s. R. Daga & Company, Chartered Accountants (Firm Registration No. 328421E), resigning as Statutory Auditors of the Company w.e.f. 28.07.2026. 4. Appointment of Statutory Auditor in Casual Vacancy: Approved the appointment of M/s. Gupta Rajesh & Associates, Chartered Accountants (ICAI Firm Registration No. 009888N), as Statutory Auditors to fill the casual vacancy, to hold office until the conclusion of the ensuing AGM, subject to approval of shareholders within three months. 5. Extension of AGM for FY 2025-26: Approved making an application to the Registrar of Companies, Maharashtra, under the third proviso to Section 96(1) of the Companies Act, 2013, seeking an extension of three months for convening the Annual General Meeting for the financial year ended March 31, 2026. 6. Rescission of Decision regarding Opening of Branch Office at Khar West, Mumbai: The Board took on record that commercial negotiations and contractual terms for acquiring the premises situated at 401, Makhija Royale, S. V. Road, Khar West, Mumbai - 400052 could not materialize and did not succeed. Consequently, no lease agreement was executed, and no branch office was opened or operated by the Company at the said location. In order to regularize records, the Board approved the formal rescission and withdrawal of the resolution passed earlier in this regard atits meeting held on 16th December 2025. 7. Approval of ‘Milestone Furniture Limited - Employee Stock Option Scheme 2026’ (‘ESOP 2026’): Pursuant to Section 62(1)(b) of the Companies Act, 2013, and the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 ("SEBI SBEB Regulations"), and based on the recommendation of the Nomination and Remuneration Committee (acting as the Compensation Committee), the Board approved the draft scheme titled ‘Milestone Furniture Limited - Employee Stock Option Scheme 2026’ (‘ESOP 2026’), subject to the approval of the shareholders by way of a Special Resolution. The Board Meeting commenced at 3:00 P.M. IST and concluded at 5:15 P.M. IST. The detailed disclosures as required under Regulation 30 of the LODR Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, are enclosed herewith as Annexure A. You are requested to kindly take the above on record and acknowledge the receipt Thanking you Yours faithfully, CIN: L36912MH20 14PLC254131 Regd. Office: LEVEL 4, DYNASTY BUSINESS PARK, A WING, ANDHERI-KURLA ROAD, J.B. NAGAR, MUMBAI, MAHARASHTRA, INDIA, 400059 Email ID. Director1@milestonefurniture.in, Ph. No. 9041009921 Website: www.milestonefurniture.in Milestone Group MILESTONE FURNITURE LIMITED For Milestone Furniture Limited pirect oR Akshay Sharma DIN: 10701657 Additional Director Annexure A DISCLOSURE OF PARTICULARS UNDER SEBI REGULATION 30 Sr. Particulars Details i. Name of the Auditor M/s. R. Daga & Company (Cessation) M/s. Gupta Rajesh & Associates (Appointment) Z. Reason for change Resignation of M/s. R. Daga & Company w.e.f. 28.07.2026. Appointment of M/s. Gupta Rajesh & Associates to fill casual vacancy. a. Date & Term of Appointment Appointment w.e.f. 17.09.2026 to hold office until the conclusion of the ensuing AGM, subject to shareholder approval. 4. Brief Profile M/s. Gupta Rajesh & Associates (ICAI FRN: 009888N) is an experienced CA firm specializing in statutory audit, taxation, and corporate governance. 5, Material Reasons for Resignation The resigning auditor confirmed no material concerns or reasons other than those stated in their resignation letter dated 28.07.2026. CIN: L36912MH20 14PLC254131 Regd. Office: LEVEL 4, DYNASTY BUSINESS PARK, A WING, ANDHERI-KURLA ROAD, J.B. NAGAR, MUMBAL, MAHARASHTRA, INDIA, 400059 Email ID. Director1@milestonefurniture.in, Ph. No. 9041009921 Website: www.milestonefurniture.in Milestone Group MILESTONE FURNITURE LIMITED September 17, 2026 M/s Gupta Rajesh & Associates, Chartered Accountants, Firm Registration Number 009888N 64-Ajit Nagar, Lady Fatima School Road, Near Phatak No. 22, Patiala - 147001, India Sub: Appointment of M/s Gupta Rajesh & Associates, Chartered Accountants, as the Statutory Auditors of the company in casual vacancy to hold office from the conclusion of the meeting of the Board of Directors held on 17 day of September, 2026 until the conclusion of the ensuing Annual General Meeting of the compan Dear Sir, This is to bring to your kind notice that the board of the Company at their meeting held on September 17, 2026 at the Registered Office of the Company situated at Level 4, Dynsaty business park, a wing, Andheri Kurla Road, J.B. Nagar, Mumbai, Maharashtra - 400059, India, approved the appointment of M/s Gupta Rajesh & Associates, having Firm Registration No. 009888N as the Statutory Auditors of the company in casual vacancy to hold office from the conclusion of the meeting of the Board of Directors held on 17th day of September, 2026 until the conclusion of the ensuing Annual General Meeting of the company, in accordance with the provisions of Section 139(8), 142 and other applicable provisions, if any, of the Companies Act, 2013 and Companies (Audit and Auditors) Rules 2014, to examine and audit the accounts of the Company at such remuneration plus GST, out of pocket, travelling and living expenses etc. as may be mutually agreed between the Board of Directors of the Company and the Auditors.” Thanks and regards, For and on behalf of the Board of Directors Milestone Furniture Limited Akshay Sharma DIN: 10701657 Director CIN: L36912MH20 14PLC254131 Regd. Office: LEVEL 4, DYNASTY BUSINESS PARK, A WING, ANDHERI-KURLA ROAD, J.B. NAGAR, MUMBAL MAHARASHTRA, INDIA, 400059 Email ID. Directori1 @milestonefurniture.in, Ph [Showing first 8,000 characters — download PDF for full document]