Bharat Gears Limited has submitted a regulatory disclosure to BSE Limited and National Stock Exchange of India Ltd under Regulation 30 of SEBI LODR Regulations.
The disclosure concerns governance issues raised by Mr. Sameer Kanwar, the erstwhile Joint Managing Director of the company. On the last day of his tenure, May 31, 2026, Mr. Sameer Kanwar raised specific concerns regarding certain practices by Mr. Surinder Paul Kanwar, the Chairman & Managing Director of the company.
In response to these concerns, the Audit Committee of the Board of Directors, in its meeting held on June 15, 2026, has appointed an external agency to conduct an impact assessment of the raised concerns. The agency has been advised to provide their report within a reasonable period of time.
The company emphasizes its commitment to robust corporate governance practices and transparency. They have committed to keeping the exchanges informed of any material developments in this matter in accordance with applicable laws and regulations.
The disclosure references SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2tPlCtN2O2St2S dated 25 February, 2025 and is made under Regulation 30(4) read with Para B of Part A of Schedule III of the SEBI LODR Regulations.
Financial impact of the matter has not been quantified in the disclosure.