Summary of Key Information:
Acquirer / Seller / Promoter: Mrs. Suchitra Agarwal
Target Company: Burnpur Cement Limited
Stock Exchange Listings:
NSE Scrip Code: BURNPUR
BSE Scrip Code: 532931
Nature of Transaction / Event: Reclassification from Promoter category to Public category
Date of Transaction: The BSE order granting no objection was dated 11th September 2026. The company intimation was dated 12th September 2026.
Other Noteworthy Information:
- The reclassification follows a lengthy process including Mrs. Agarwal's initial request to the company on 20th September 2025
- The Board of Directors initially rejected the reclassification request in their meeting on 11th November 2025
- The matter reached the Calcutta High Court (WPA No. 3454 of 2026), which directed BSE to consider the representation
- SEBI issued directions on 29th July 2026 requiring the company to submit a reclassification application
- UV Asset Reconstruction Limited (UVARCL) took over management of the company under Section 9(1)(a) and 15 of the SARFAESI Act
- UVARCL invoked pledge over promoters' shares, acquiring 25.31% of company's shares
- Mrs. Suchitra Agarwal currently holds nil shares in the company
- The company confirmed there are no pending dues payable to the exchanges in relation to this matter
- Mrs. Agarwal declared she is neither a wilful defaulter nor a fugitive economic offender
Analyst Notes:
The reclassification was approved based on compliance with Regulation 31A of SEBI LODR Regulations, following judicial and regulatory intervention. The promoter holds no shares and exercises no control over the company currently, meeting the conditions for reclassification to public category.