HIRA AUTOMOBILES LIMITED

Hira Automobiles Limited submitted a quarterly compliance report to the Bombay Stock Exchange for the quarter ended June 30, 2026, in compliance with SEBI Order Reference No. WTM/PS/08/CFD/JUNE/2013 dated June 4, 2013, regarding minimum public shareholding norms.

The report details the company's historical delisting process and current compliance status:

Delisting Process History (2013-2014)

The company decided to delist its securities from all stock exchanges pursuant to a request received from its Chairman, Sh. Rahul Inder Singh Sidhu, for acquiring 4.28% of public shareholding on May 25, 2013.

Key events in the delisting process included:

  • May 25, 2013: Request letter from Mr. Rahulinder Singh Sidhu to public shareholders about plans to acquire 4.98% (total remaining public shareholding)
  • May 28, 2013: Board resolution authorizing delisting of equity shares
  • May 28, 2013: Appointment of R.P.S Khurana and Associates, Company Secretaries as scrutinizer for postal ballot and Class I Merchant banker for delisting
  • May 30, 2013: Completion of dispatching postal ballot notices to shareholders
  • May 31, 2013: Publication of advertisement in newspapers about dispatch of postal ballot notices
  • June 3, 2013: Request for extension of time to SEBI
  • November 12, 2013: Result of postal ballot resolution
  • November 22, 2013: Company submitted draft offer letter to BSE for In-Principal Approval
  • November 22, 2013: SEBI granted permission to Mr. Rahulinder Singh Sidhu for purchase of balance public shares of 4.28% and to complete delisting within 5 months of the order
  • March 25, 2014: Received In-Principal Approval from BSE Limited, Ahmadabad Stock Exchange Limited, and Delhi Stock Exchange Association Limited
  • February 11, 2014: Received In-Principal Approval from Ludhiana Stock Exchange Association Limited
  • August 14, 2014: The company has not received requisite consent from shareholder (specific details not provided)

Recent Regulatory Action

  • April 16, 2024: SEBI imposed a penalty of ₹14 lakhs on the company through Adjudication Order No. ORDER/BM/DS/2024-25/30274 for non-filing of quarterly reports as per Clause 19 of SEBI Order Reference No. WTM/PS/08/CFD/JUNE/2013 dated June 4, 2013
  • The penalty was duly deposited vide YCPN2336497875 dated May 24, 2024

Current Status

The company is in the process of filing appropriate application/representation with Securities & Exchange Board of India (SEBI) to seek necessary directions to enable the promoters of the company to comply with minimum public shareholding requirements.