Termination of the agreement and withdrawal of proposal
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
BN Rathi Securities has terminated its agreement with PCS Securities Limited, originally signed on 21 April 2025, for transferring demat (DP) accounts. The transfer could not be completed because some clients of PCS Securities failed to meet KYC requirements, and CDSL cancelled the proposed transfer. Separately, the company is withdrawing its proposal — approved by the board on 17 December 2025 — to acquire client accounts (demat and trading) from SVCM Securities Private Limited. During initial verification, SVCM reconsidered and chose to continue its business independently, leaving BN Rathi with no option but to pull out. Neither party is related to BN Rathi's promoters or group companies. The company confirms the termination of the PCS agreement does not impact its ongoing business or operations.
This is a minor negative development — two planned account acquisitions that could have grown the company's client base have fallen through. However, management states there is no material impact on current business or operations, so near-term business should continue as usual. Investors should watch for any future inorganic growth plans, as the company remains open to such opportunities.