Specific Allegations Addressed
1. Factory Premises Allegation: Divya Bhaskar alleged the factory premises was found inoperative without any plant and machinery.
- Clarification: The company had already sold the factory premises located at survey nos.1581 to 1584 (old nos.284/1, 284/2, 284/3 & 284/4) of Ujediya, Tal. Talod, Dist. Sabarkantha, Gujarat to M/s. Gaurisuta Agro Industries Pvt. Ltd. effective 18th June 2024.
- The sale was approved by shareholders through a Special Resolution passed in an Extraordinary General Meeting held via audio-visual means on 23rd January 2024 at 12:30 pm.
- Notice of the EGM was submitted to BSE Limited on 27th December 2023.
2. Registered Office Address Allegation: Divya Bhaskar alleged the company does not maintain its registered office at Gandhinagar.
- Clarification: The company shifted its registered office from Gandhinagar to 306, Sarthik Complex, Nr. Iscon Cross Road, Satellite, Ahmedabad 380015 effective 1st October 2025.
- This shift was approved by shareholders through a Special Resolution passed in the 12th Annual General Meeting held on 30th September 2025.
- Notice of the AGM was submitted to BSE Limited on 8th September 2025.
3. Promoter Stake Allegation: Divya Bhaskar alleged promoters have sold their major stake (46%).
- Clarification: The reduction in promoter shareholding occurred due to preferential issue of equity shares and natural dilution over time.
- The company emphasized that promoters have remained invested for approximately 10 years since incorporation in 2013 and IPO on BSE SME platform in 2016.
- The company characterized the 46% stake sale allegation as "misleading to the stakeholders."
4. Share Price Movement: Regarding share price increase allegations.
- Clarification: The company stated that "movement in the price of the shares of the Company is purely in the hands of market participants."
Document Context
This is an official regulatory compliance disclosure submitted to BSE Limited by Viral Deepakbhai Ranpura (DIN: 07177208), Whole Time Director of Umiya Tubes Limited, responding to media allegations. The company maintains that the newspaper article is "irrelevant, unwarranted and misleading to the stakeholders of the Company."