Statement of Deviation & Variation
Awaiting price reaction for this filing.
Deccan Bearings Limited filed a quarterly statement confirming that funds raised through a Preferential Issue on July 3, 2025, totalling Rs. 9,86,44,270 (approximately Rs. 9.86 crore), have been fully utilized for the originally stated purposes with no deviation or variation. The report covers the quarter ended September 30, 2025, and notes that no monitoring agency was applicable. The funds were used for general corporate purposes including working capital, infrastructure, machinery purchase, loan repayment, and potential acquisitions or diversification. The Audit Committee and auditors had no comments, and the filing was signed by Managing Director Priyankbhai Vasantbhai Ghelani.
This is a routine compliance filing confirming that the company used the Rs. 9.86 crore raised via preferential issue exactly as disclosed to shareholders, with no misallocation. No negative impact on shareholders; it signals disciplined use of funds and regulatory transparency.