Intimation under Regulation 31A of SEBI (Listing Obligation and Disclosure Regulation Requirements) Regulations, 2015
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Pet Plastics Ltd (now renamed Bharatam Ventures Limited) has received a request from Ritesh Vijay Vakil, a listed promoter, asking to be reclassified from the 'Promoter & Promoter Group' category to the 'Public' category under SEBI's Regulation 31A. Notably, Ritesh Vijay Vakil currently holds Nil (zero) equity shares in the company, meaning this reclassification is a formal administrative exercise rather than a change in actual shareholding. He has stated that he is no longer involved in the business, has no influence over policy or day-to-day operations, does not exercise control, and is not on the board or acting as a key managerial person. The reclassification is subject to approval by the Board of Directors and the BSE stock exchange.
This filing has no material impact on shareholding pattern or stock price since the promoter in question holds zero shares and the reclassification is purely a formal cleanup of the promoter list. Shareholders should note this is procedural housekeeping and not indicative of any new strategic change or stake movement.