Mahalaxmi Seamless Limited has submitted a formal communication to the Corporate Relationship Department of BSE Limited regarding the non-applicability of specific SEBI LODR regulations to the company for the half year ended September 30, 2026.
The disclosure specifically addresses Regulation 23(9) of SEBI (LODR) Regulations, 2015, which pertains to Related Party Transactions. The company cites Regulation 15(2) of the same regulations as the basis for exemption, which states that corporate governance provisions (including Regulations 17-27 and specific clauses of Regulation 46 and Schedule V) do not apply to:
(a) Listed entities with paid-up equity share capital not exceeding ₹10 crore and net worth not exceeding ₹25 crore as of the last day of the previous financial year
(b) Entities listed on SME Exchanges
Mahalaxmi Seamless Limited falls under category (a) with the following financial parameters as of the last day of the previous financial year:
- Paid-up equity capital: ₹528.14 lakh (₹5.28 crore)
- Net worth: ₹(54.22) lakh (negative ₹54.22 lakh)
Both figures are below the prescribed thresholds of ₹10 crore for paid-up capital and ₹25 crore for net worth. Consequently, the company confirms that Regulation 23(9) does not apply and it is not required to submit Related Party Transactions disclosure for the half year ended September 30, 2026.