With reference to our earlier announcement made 09.10.2025 at 01.06 P.M, we are hereby filing revised announcement Pursuant to provisions of Regulation 30 read along with clause 20 of ....
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SEBI has issued a Final Order dated October 8, 2025 against the company's Promoter Mr. Rajiv Kotia and four related family members for breaching the takeover code (Regulation 10 and 11(1) of SAST Regulations) in share acquisitions dating back to 2007. Mr. Rajiv Kotia has been directed to sell the excess 1.54% shares he holds above the 15% threshold and deposit the entire sale proceeds into SEBI's Investor Protection and Education Fund within 3 months. The four other family members have been barred from accessing the securities market for 3 months. The company clarified that there is no material impact on its financial or operational activities, and the original show cause notice from 2019 stands disposed of.
While the company itself is not directly penalised, this regulatory action against the promoter and his family members could create short-term uncertainty and negative sentiment around the stock. The forced sale of 1.54% shares by the promoter within 3 months may add some supply pressure on the stock, but the company's operations and financials remain unaffected.