Adishakti Loha and Ispat Limited has announced the creation of a pledge on equity shares by its promoter under SEBI takeover regulations. The company, formerly known as Afloat Enterprises Limited, disclosed this development to BSE Limited on March 20, 2026.

Pledge Details and Share Encumbrance

Promoter Mr. Pawan Kumar Mittal has pledged 1412525 equity shares of the company, representing 11.25% of the total share capital. The shares have been encumbered in favor of MSB e-Trade Securities Limited for margin requirements related to trading in securities. The pledge creation date was March 16, 2026.

Promoter Holdings and Encumbrance Status

Prior to this pledge creation, Mr. Pawan Kumar Mittal held 1412525 shares representing 11.25% of the company's total share capital with no existing encumbrances. Following the pledge creation, his entire holding of 1412525 shares now stands encumbered.

Regulatory Compliance and Disclosure

The disclosure has been made under regulation 31(2) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulation, 2011. The company's shares are listed on BSE Limited, and the regulatory filing ensures transparency regarding changes in promoter shareholding patterns and encumbrances.

Adishakti Loha and Ispat Limited operates with its registered office located at 325, Third Floor, Agarwal Plaza, Sec-14, Rohini, Delhi-110085. The disclosure was signed by Mr. Pawan Kumar Mittal in his capacity as promoter from New Delhi.

Afloat Enterprises Limited (formerly Adishakti Loha and Ispat Limited) has announced the reconstitution of its Audit Committee and Stakeholders' Relationship Committee following a board meeting held on March 07, 2026. The restructuring aims to strengthen corporate governance practices and ensure continued regulatory compliance.

Committee Leadership Changes

The reconstitution was initiated after Ms. Swati Jain (DIN: 09436199) formally requested the Board of Directors to relieve her from her positions as Chairman and Member of both the Audit Committee and Stakeholders' Relationship Committee. She cited her existing engagements in committees of other companies, which would prevent her from devoting sufficient time to the meetings and responsibilities of these committees.

Despite stepping down from these committee roles, Ms. Swati Jain will continue to serve as a Director on the Board of the Company and will maintain her position as a Member of the Nomination and Remuneration Committee.

New Committee Structure

The Board of Directors has appointed Mr. Kanwar Nitin Singh (DIN: 10204543), an Independent Director, as the new Chairman of both committees. This appointment ensures continued compliance with regulatory requirements under SEBI (LODR) Regulations, 2015.

Audit Committee Reconstitution

The Audit Committee has been restructured to enhance oversight and compliance in line with regulatory requirements and best practices in corporate governance.

Stakeholders' Relationship Committee Reconstitution

The Stakeholders' Relationship Committee has been reconstituted to ensure prompt and effective resolution of shareholder and investor grievances.

Implementation Timeline

The committee reconstitution changes became effective immediately from March 07, 2026. The board meeting commenced at 03:30 P.M. and concluded at 04:00 P.M. on the same day. The company has informed BSE Limited about these changes in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.