Application of Reclassification of Promoter approved by Board at its meeting held on 11.04.2025.
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The Board of Directors of Padam Cotton Yarns Ltd, at its meeting on April 11, 2025, approved requests from 8 members of the promoter/promoter group to be reclassified as 'public' shareholders. The outgoing promoters include Padam Sain Gupta, Prem Lata, Radhika Gupta, Vivek Gupta, Vivek Gupta HUF, Rajev Gupta, Rajev Gupta HUF, and Rekha Gupta. Notably, all 8 individuals collectively hold 0 shares, representing 0% of the company's paid-up equity capital. They have confirmed they are not involved in the company's affairs, hold no board seats, and are not wilful defaulters or fugitive economic offenders. The reclassification is subject to approval from BSE and other necessary authorities under SEBI's Regulation 31A.
This is a technical cleanup move rather than a change in ownership — these individuals already hold zero shares and have no role in the company. Shareholders should see no direct impact on shareholding structure, voting rights, or stock price, though it formally cleans up the promoter category to reflect the actual shareholding reality.