KOTIC · price
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Awaiting price reaction for this filing.
Kothari Industrial Corporation Ltd has withdrawn its earlier application to reclassify Satomann Investment Limited from the 'Promoter' category to the 'Public' category. The reason given is that Satomann Investment Limited has been struck off from the Register of Companies and is now a defunct entity, making reclassification under SEBI Regulation 31A not feasible. The company stated it will continue to disclose Satomann Investment Limited's shareholding in the shareholder pattern as required under the Companies Act, 2013 and SEBI LODR Regulations.
This is a procedural administrative update with no material impact on shareholders or stock price. The promoter shareholding of the company remains unchanged since the reclassification never took effect.