We hereby submit the Intimation to BSE in accordance with Regulation 30 of SEBI (LODR) Regulations, 2015, confirming the withdrawal of the Application filed for Reclassification of Ms. ....
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Awaiting price reaction for this filing.
Kisan Mouldings Ltd has withdrawn its application to reclassify Ms. Rekha Satish Aggarwal from the 'Promoter' category to the 'Public' category. BSE had raised a query pointing out that Ms. Rekha Aggarwal is the sister of Mr. Sanjeev Aggarwal, the Managing Director and Promoter of the company, who holds 1.31% of total shareholding. Under SEBI Regulation 31A(3)(b), a person seeking reclassification from promoter to public cannot be a 'relative' of any existing promoter as defined under Section 2(77) of the Companies Act, 2013. Since siblings qualify as relatives, Ms. Rekha Aggarwal does not meet the eligibility criteria, and the company has decided to withdraw the reclassification application to ensure regulatory compliance.
This is largely a procedural/regulatory clarification with no direct impact on shareholding or stock price. Ms. Rekha Aggarwal will continue to be classified as a Promoter of the company, maintaining the existing promoter group structure.