Bharat Gears Limited has informed the Exchange regarding Intimation under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015Ref: Our Letter dated November 14, 2025 We refer to our letter dated November 14, 2025 wherein, pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the Regulations), we informed you that at the meeting of the Board of Directors of the Company held on November 14, 2025, the Board advised the management to obtain a comprehensive independent legal opinion on the citizenship status of Mr. Surinder Paul Kanwar, Chairman and Managing Director of the Company, and decided that the Board would consider the appropriate course of action upon receipt of the legal opinion.Subsequent to that disclosure, and in accordance with Regulation 30 read with Schedule III of the Regulations, we hereby inform you that, in continuation of the aforesaid directions of the Board of Directors, a comprehensive legal opinion on the matter has been obtained and placed before the Board of Directors of the Company in its meeting held on January 23, 2026 for review and to form an opinion and issue further directions, if any.We hereby inform you that the Board, in its aforesaid meeting, considered the said legal opinion and opined that the power to determine the citizenship status of Mr. Surinder Paul Kanwar, Chairman and Managing Director of the Company vests exclusively with the Central Government and, accordingly, concluded that until any direction or order is issued by the Central Government in respect of his citizenship status, the citizenship status of Mr. Surinder Paul Kanwar, Chairman and Managing Director of the Company, continues to remain unchanged and he shall be regarded as a citizen of India. Thus, he shall continue to discharge his responsibilities as Chairman and Managing Director.The Company will keep you informed of any material developments in this matter, as and when required, in accordance with applicable laws and regulations.You are requested to kindly take the same on record.
BHARATGEAR · price
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Awaiting price reaction for this filing.
Bharat Gears Limited had earlier flagged a question around the citizenship status of its Chairman and Managing Director, Mr. Surinder Paul Kanwar, and asked the management to get an independent legal opinion. That opinion has now been obtained and reviewed by the Board at its meeting on January 23, 2026. The Board concluded that only the Central Government has the authority to determine anyone's citizenship status, and until the government orders otherwise, Mr. Kanwar's citizenship remains unchanged and he continues to be regarded as an Indian citizen. As a result, Mr. Kanwar will continue to serve as the company's Chairman and Managing Director with no disruption to his role. The company has promised to update the exchange if there are any further material developments on this matter.
The uncertainty around the CMD's citizenship status has been addressed for now, and leadership continuity at the top is preserved — which removes a near-term governance overhang for shareholders. Any future action by the Central Government could still change the picture, so investors should watch for further updates.