Date: 10th September, 2026
Board Meeting Outcomes
- The National Stock Exchange of India Limited (NSE) has rejected the company's application for re-classification of four promoter group entities from "Promoter & Promoter Group" to "Public" category.
- The application was submitted to NSE and The Calcutta Stock Exchange Limited (CSE) on 3rd February, 2026.
- The rejection decision was received from NSE via letter dated 9th September, 2026 at 6:17 PM.
Regulatory Compliance Update
Reclassification Application Details:
- Application sought reclassification under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Entities seeking reclassification:
- Mr. Prahlad Rai Agarwalla
- Mrs. Sarita Devi Agarwalla
- Mr. Avinash Agarwalla
- M/s. Prahlad Rai Agarwalla HUF
NSE Decision Rationale:
- Queries and clarifications raised by the Exchange remained unaddressed despite multiple follow-ups
- Application cannot be considered under Regulation 31A of SEBI LODR Regulations
- Application is being returned due to prolonged non-response
Next Steps:
- Company may submit a fresh application along with complete set of requisite documents and applicable fees if they wish to pursue the matter further
Other Operational / Legal / Strategic Disclosures
This information is submitted pursuant to Regulation 31(4)(b) of the Listing Regulations. The event occurred on 9th September, 2026 at 6:17 PM (being the date of receipt of the letter from NSE).