Key Quantitative Figures

  • All 8 promoter group entities currently hold zero equity shares in the company
  • Each entity shows 0.00% shareholding as of the application date

Dates of Action

  • Request letters received: July 15, 2026
  • Company intimation filed: July 16, 2026
  • Board consideration: To be taken up in next Board Meeting

Parties Involved

Requesting Entities:

1. Shobhan Mittal (PAN: AGTPM0891N) - Singapore resident

2. Santosh Mittal (PAN: AEWPM9868G) - Kolkata resident

3. Shiv Prakash Mittal (PAN: AEAPMO196F) - Kolkata resident

4. Chitwan Mittal (PAN: AFAPJ2040L) - Singapore resident

5. Master Aditya Mittal (PAN: CNQPM6726E) - Singapore resident (minor represented by guardian)

6. Prime Holdings Pvt. Ltd. (PAN: AABCP1738Q) - Assam registered

7. Niranjan Infrastructure Pvt. Ltd. (PAN: AACCN7061P) - Gurugram registered

8. Bluesky Projects Pvt. Ltd. (PAN: AADCB8448D) - Kolkata registered

Company Representatives:

  • Kaushal Kumar Agarwal, Company Secretary & Vice President-Legal

Rationale for Reclassification

All entities confirmed:

  • Currently hold no equity shares in the company
  • Not involved in day-to-day affairs of the company
  • Do not exercise any control over affairs or decision-making process
  • Have no special rights through formal or informal arrangements
  • Not part of Board of Directors or holding Key Managerial Positions

Regulatory Confirmations

Each entity confirmed compliance with Regulation 31A(3)(b) conditions:

  • Together do not hold more than 10% of total voting rights
  • Do not exercise control over company affairs directly or indirectly
  • Have no special rights through shareholder agreements
  • Not represented on Board of Directors (including no nominee director)
  • Not acting as Key Managerial Personnel
  • Not willful defaulters per RBI guidelines
  • Not fugitive economic offenders

Undertakings Provided

Each entity undertook to:

  • Continue complying with conditions (i), (ii), and (iii) of Regulation 31A(3)(b) at all times post-reclassification
  • Comply with conditions (iv) and (v) for minimum three years post-reclassification
  • Abide by all applicable rules, regulations and laws post-reclassification

Next Steps

The request for reclassification will be considered by the Board of Directors of the Company in their next Board Meeting.

Financial Impact

No immediate financial impact disclosed. The reclassification represents a change in ownership categorization without change in actual shareholding, which remains at zero shares for all requesting entities.

Capital Structure Impact

No change to capital structure as all entities currently hold zero shares. The reclassification only affects the categorization of these entities in the shareholding pattern.