Date: 08th June, 2026

Board Meeting Outcomes

The Board of Directors at their meeting held on 08th June, 2026, considered and approved the request for reclassification of Mr. T Satish U Pai from 'promoter and promoter group' category to 'public' category under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Reclassification Details

Promoter Reclassification:

  • Name: Mr. T Satish U Pai
  • Current Category: Promoter
  • Shares Held: 120 equity shares
  • Percentage Holding: 0% of total voting rights

Rationale for Reclassification:

  • The outgoing promoter is not related to any business carried out by the Company
  • Not engaged in management or day-to-day affairs of the Company
  • Does not have any right to appoint any Director of the Company
  • No ability to control management or policy decisions of the Company
  • Does not influence decisions taken by the Company

SEBI Compliance Conditions Met:

  • Holds less than 1% of total voting rights in the Company (120 shares, 0%)
  • Not involved in day-to-day management or affairs of the Company
  • Meets all conditions specified under Regulation 31A(3)(b) of SEBI (LODR) Regulations, 2015

Approval Requirements:

  • Shareholder approval by ordinary resolution not required due to sub-1% holding
  • Subject to approval of BSE Limited and National Stock Exchange of India Limited

Post-Reclassification Undertakings:

Mr. T Satish U Pai has confirmed that he shall not:

  • Hold more than 10% of fully paid-up equity share capital and voting rights
  • Exercise control over affairs of the Company, directly or indirectly
  • Have any special rights through formal or informal arrangements
  • Be represented on the Board of Directors (including not having a nominee director)
  • Act as key managerial personnel in the Company
  • Continue to comply with conditions under Regulation 31A(4) of SEBI (LODR) Regulations
  • Is neither a 'wilful defaulter' per RBI Guidelines nor a fugitive economic offender

Additional Information

Meeting Details:

  • Date: Monday, June 08, 2026
  • Time: 10:00 A.M to 10:30 A.M
  • Location: Registered office of the Company

Documentation:

  • Certified extract of minutes of Board meeting enclosed as per Regulation 31A(8)(b)
  • Original request received via letter dated April 09, 2026
  • Previous intimation made on 10th April, 2026 regarding receipt of reclassification request

Director Interest: None of the Directors of the company are interested in this resolution.