We are enclosing herewith details regarding the agreement entered into by the Company (MIL) with its Subsidiary Company and its Shareholders.
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Mafatlal Industries Limited (MIL) has entered into a Shareholders Agreement with its subsidiary, Mafatlal Apparel Exports Private Limited (MAEPL), and its 49% shareholder Mr. Sagar Birnale, dated October 3, 2025. MIL holds 51% (51,00,000 equity shares) and Mr. Birnale holds 49% (49,00,000 equity shares) in MAEPL. The agreement formalises the rights, duties and obligations of the shareholders regarding the management and operations of MAEPL, including board composition, reserved matters, share transfers, and governance rules. Under the pact, MIL will appoint the majority of directors on MAEPL's board, and MIL's liability is capped at the extent of its shareholding. The promoters of MIL have no direct interest in the subsidiary beyond MIL's holding, and the filing confirms no impact on MIL's management or control.
This is a governance-level formality for an already existing subsidiary and does not change MIL's ownership, control, or financials. Shareholders should note no immediate material impact on the listed entity, though future related-party dealings between MIL and MAEPL will be carried out at arm's length as stated.