Key Quantitative Figures

The following individuals and their shareholdings were approved for reclassification:

  • Vinod Prabhulal Mehta (Promoter) - 3,22,300 shares (2.17%)
  • Amrish Vinod Mehta (Promoter Group) - 53,300 shares (0.28%)
  • Jyoti Vinodchandra Mehta (Promoter Group) - 30,500 shares (0.16%)
  • Piyush Chimanlal Vora (Promoter) - 10,010 shares (0.05%)
  • Purnimaben Piyushbhai Vora (Promoter Group) - 1,510 shares (0.01%)
  • Arvindbhai Kantilal Shah (Promoter Group) - 0 shares (0.00%)
  • Chintan Arvindbhai Shah (Promoter Group) - 0 shares (0.00%)
  • Parul Shah (Promoter Group) - 0 shares (0.00%)
  • Ranjanben Upendra Dholakia (Promoter Group) - 0 shares (0.00%)
  • Vinit Arvind Shah (Promoter Group) - 0 shares (0.00%)

Conditions and Undertakings

The outgoing promoters confirmed in their request letters dated July 7, 2026 that they:

1. Are not controlling affairs of the Company directly or indirectly (except Vinod Prabhulal Mehta)

2. Do not have special rights in the Company through formal or informal arrangements including shareholder agreements

3. Have no representation on the Board of Directors (except Vinod Prabhulal Mehta)

4. Are not acting as key managerial persons in the Company

5. Are not wilful defaulters as per RBI Guidelines nor fugitive economic offenders

They have undertaken to comply with conditions mentioned in Regulation 31A(3)(b) for a period of not less than three years from the date of reclassification.

Board Resolution Details

The Board passed a unanimous resolution on July 9, 2026 to:

1. Note and take on record the request letters from the outgoing promoters

2. Accord consent to proceed with the reclassification process subject to necessary approvals

3. Confirm that the company is and will remain compliant with minimum public shareholding requirements under Regulation 22 of SEBI LODR Regulations

4. Confirm that trading in company's shares has not been suspended by stock exchanges

5. Confirm the company has no outstanding dues to SEBI, stock exchanges or depositories

Approval Requirements

The reclassification is subject to approval of shareholders, BSE Limited, and any other necessary approvals as required under Regulation 31A of SEBI LODR Regulations.

Effective Date

Upon receipt of necessary approvals, the reclassification will be reflected in the shareholding pattern filed under Regulation 31 from the immediate succeeding quarter.

Authority

The Directors and Company Secretary are authorized to submit all necessary documents, applications, and undertakings to give effect to this resolution.

Financial Impact

The disclosure indicates a structural change in shareholding classification but does not quantify any monetary financial impact.