Bhageria Industries has filed a disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, informing stock exchanges of a regulatory development concerning proceedings before the Securities Appellate Tribunal (SAT). The disclosure, dated May 16, 2026, was submitted to both the National Stock Exchange of India Limited and BSE Limited by Company Secretary and Compliance Officer Deepa Toshniwal.

Background of the Proceedings

The matter pertains to an application filed by Promoter(s)/Promoter Group(s) and Director(s) of Bhageria Industries, challenging the adjudication order dated March 31, 2023 passed by the Securities and Exchange Board of India (SEBI). In its earlier communication dated March 12, 2026, the company had informed exchanges that SAT had adjourned the matter till May 7, 2026 for final disposal.

Latest Development: SAT Adjournment

When the matter came up for hearing on May 7, 2026, SAT adjourned it further. The company noted that, as this is a group matter involving multiple applicants, law firms, and counsels, the next hearing dates were fixed in consultation with all concerned parties and the Registry. While tentative hearing dates had been communicated orally, the company awaited the formally uploaded order copy for confirmation. The order copy was uploaded on May 15, 2026.

The key details of the updated proceedings are summarised below:

Status of SEBI Order

The SEBI adjudication order dated March 31, 2023 remains stayed until the matter is taken up for final disposal between July 28, 2026 and July 30, 2026. The company has confirmed that there has been no settlement of proceedings, and details pertaining to litigation against key management personnel or promoters are not applicable in the current context.

Regulatory Disclosure Compliance

The disclosure has been made in compliance with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, with the requisite details enclosed as Annexure - I. The company has requested both exchanges to take the information on record. The disclosure was digitally signed by Deepa Toshniwal, Company Secretary and Compliance Officer, on May 16, 2026.

Bhageria Industries Limited has incorporated a wholly owned subsidiary named Bhageria Rare Earth Minerals Private Limited on May 14, 2026. The company informed the exchanges regarding this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of the Subsidiary

The newly incorporated entity, Bhageria Rare Earth Minerals Private Limited, is classified as a related party of the company. The subsidiary was established to hold investments in different entities, aligning with the parent company's strategic objectives to expand its existing business operations. As it is a newly incorporated entity, the subsidiary has not yet commenced business operations, and consequently, its turnover is not applicable.

Financial and Structural Information

The company provided specific details regarding the capital structure and shareholding of the new subsidiary. The authorized share capital of Bhageria Rare Earth Minerals Private Limited stands at ₹1,00,000. Bhageria Industries Limited will subscribe to 100% of the share capital through cash infusion.

Strategic Impact and Approvals

The incorporation of the wholly owned subsidiary is intended to support the strategic expansion of Bhageria Industries Limited. The company noted that any transactions undertaken with the subsidiary would be conducted at an arm’s length basis. All necessary governmental or regulatory approvals required for the acquisition and operation of the subsidiary will be obtained as and when required.