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Awaiting price reaction for this filing.
The Board of Directors of Chartered Capital & Investment Ltd has approved the discontinuation of merchant banking activities and voluntary surrender of its SEBI Category 1 Merchant Banker registration certificate. The company cited non-operation of merchant banking activities for over two financial years and prevailing market conditions as reasons for this decision. The filing states there will be no monetary or other impact on the listed entity. As part of this transition, Mr. Nevil Sheth has been appointed as the new Compliance Officer effective April 3, 2026, replacing Mr. Sagar Bhatt to meet regulatory requirements mandating separation of compliance roles. Mr. Bhatt will remain with the Merchant Banking Division until the surrender process is completed.
The surrender of the merchant banking license is a routine administrative matter with no financial impact, as the business had been inactive for over two years. The stock is unlikely to see any significant reaction as this represents the formal closure of a dormant business line rather than a material change in operations.