Outcome of Board Meeting held on Tuesday, June 10, 2025.
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Azad India Mobility Ltd informed the stock exchange that its Board, at the June 10, 2025 meeting, noted a warning letter from BSE dated May 30, 2025 regarding non-compliance with SEBI LODR Regulation 45(3) during the company's name change from Indian Bright Steel Co. Ltd. to Azad India Mobility Limited. The company clarified that this non-compliance was already rectified at its 63rd Annual General Meeting held on September 30, 2024. The company stated the matter pertains to 2024 and has no impact on current operations. SEBI advised the company to exercise due caution, place the warning before the Board, and disseminate the information publicly.
This is a procedural compliance warning related to a past name change and has been already rectified; no material financial or operational impact on shareholders or the stock is expected.