Date: September 23, 2026
Regulatory Action
Renaissance Global Limited received rejection letters from both BSE Limited (Ref: LIST/COMP/SJ/219/2026-27) and National Stock Exchange of India Limited (Ref: NSE/LIST/RGL/109/2026-2027) dated September 23, 2026, regarding the company's application for re-classification of Mr. Amit Chandrakant Shah from 'Promoter' category to 'Public' category under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The rejection was based on Regulation 31A(3)(b) of SEBI LODR Regulations, which states that promoters seeking re-classification and persons related to them shall not:
- Together hold more than ten percent of the total voting rights in the listed entity
- Exercise control over the affairs of the listed entity directly or indirectly
The exchanges determined that Mr. Amit Chandrakant Shah's immediate relative, Mrs. Kalpana N. Shah (his sister), along with her husband Mr. Niranjan Shah, are trustees and persons exercising ultimate control over the family trust Kothari Descendants Private Trust, which is a promoter group entity holding 12.17% of the share capital/voting rights in Renaissance Global Limited.
This holding exceeds the 10% threshold specified in Regulation 31A(3)(b)(i), and the control exercised through the trust violates Regulation 31A(3)(b)(ii). Consequently, the application for re-classification was disposed of and cannot be considered under Regulation 31A of SEBI LODR Regulations.
Compliance Details
The application was submitted under application number 120063 to BSE and application number 109 to NSE. The company's compliance officer, CS Vishal Dhokar (Company Secretary & Compliance Officer), signed the intimation to the exchanges.
Company addresses:
- Office/Unit I: Plot No. 36A & 37, SEEPZ, Andheri (E), Mumbai, Maharashtra, 400096