Sanathnagar Enterprises Limited announced the outcome of its Board of Directors meeting held on July 14, 2026, through video conferencing. The Board considered and approved requests from certain promoters for reclassification from "Promoter" category to "Public" category under Regulation 31A of the SEBI Listing Regulations.

The approval covers three promoter entities collectively holding 2.28% of the company's issued and paid-up share capital:

  • Mr. N.P.S. Shinh: 14,955 equity shares (0.47% of paid-up capital)
  • Ms. Manita Shinh: 3,150 equity shares (0.10% of paid-up capital)
  • Continuous Forms (Calcutta) Limited: 53,985 equity shares (1.71% of paid-up capital)

Total shares subject to reclassification: 72,090 equity shares representing 2.28% of paid-up equity share capital.

The promoters confirmed in their application letters dated July 14, 2026, that:

  • They are not part of the Board of Directors and do not hold any Key Managerial Position
  • They do not participate in the company's management or decision-making process
  • They do not hold any special rights or privileges through formal or informal arrangements
  • They along with related persons do not hold more than ten percent of total voting rights
  • They do not exercise control over the company's affairs directly or indirectly
  • They have no special rights through shareholder agreements
  • They will not be represented on the Board (including no nominee director)
  • They will not act as Key Managerial Personnel
  • They are not wilful defaulters per RBI guidelines
  • They are not fugitive economic offenders
  • There is no pending regulatory action against them

The Board noted that these promoters have been engaged in independent professions/businesses and have not been involved in the company's management nor held any executive position since 2010. The outgoing promoters together with related persons hold less than 10% of the paid-up equity share capital.

The reclassification is subject to requisite approvals from BSE Limited and approval of shareholders by way of ordinary resolution.

The Board confirmed that:

  • The company is and will remain compliant with minimum public shareholding requirements under Regulation 38 of Listing Regulations
  • Trading of the company's securities will not be suspended on stock exchanges
  • The company has no outstanding dues to SEBI, stock exchanges, or depositories

An application will be made to BSE Limited for its no-objection certificate and to seek shareholders' approval in accordance with Regulation 31A of the Listing Regulations.

The Board authorized any Director, Chief Financial Officer, or Company Secretary to take all necessary actions to implement this resolution, including making applications to stock exchanges and executing required documents.