Bharatam Ventures Limited (formerly pet plastics Limited) has informed BSE Limited about receiving a reclassification request from one of its promoters under SEBI regulations. The company filed the intimation on March 28, 2026, in compliance with regulatory disclosure requirements.

Promoter Reclassification Request Details

The company received a formal request from Ritesh Vijay Vakil, seeking reclassification from "Promoter & Promoter Group" category to "Public" category under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance Confirmations

In his reclassification request, Ritesh Vijay Vakil provided comprehensive confirmations regarding his current status with the company. The promoter certified that he does not hold more than 10% of total voting rights and exercises no control over company affairs, directly or indirectly.

Key compliance confirmations include:

• No special rights through formal or informal arrangements
• Not represented on the board of directors
• Not acting as key managerial person
• Not classified as willful defaulter or fugitive economic offender
• No pending regulatory action

Approval Process and Next Steps

The reclassification request requires multiple levels of approval before implementation. The company's board of directors must analyze and approve the request, followed by consent from BSE Limited as the listing exchange.

The promoter has committed to comply with specific regulatory conditions for at least three years from the reclassification date. Failure to maintain compliance would result in automatic reclassification back to "Promoter" category.

Company Background

Bharatam Ventures Limited, formerly known as Pet Plastics Limited, operates from its registered office in Chembur, Mumbai. The company trades on BSE under scrip code 524046 with the symbol PETPLST. The reclassification process follows established SEBI guidelines designed to ensure transparency in promoter categorization and protect investor interests.

Bharatam Ventures Limited (formerly known as Pet Plastics Limited) has announced a board meeting scheduled for March 31, 2026, to review its subsidiary investments and consider potential divestment opportunities. The meeting represents a significant corporate governance milestone as the company evaluates its investment portfolio.

Meeting Details and Venue

The board meeting will convene on Tuesday, March 31, 2026, at 12:00 P.M. at the company's registered office located at 1301, 13th Floor, Signature Business Park, Commercial Premises CHSL, Postal Colony, Near Fine Arts Society, Chembur, Mumbai 400071. The meeting has been scheduled in compliance with Regulation 29 read with Regulation 33 of the Listing Regulations.

Board Meeting Agenda

The primary agenda items for the board meeting include:

• Review of investments in subsidiaries
• Consideration of divestment of investments, if any
• Any other matters with the permission of the chairperson

The focus on subsidiary investment review indicates the company's strategic approach toward optimizing its investment portfolio and potentially restructuring its business operations.

Corporate Communication

The company formally communicated this meeting schedule to BSE Limited on March 27, 2026, through an official letter signed by Managing Director Abhinath Shinde (DIN: 07076684). The communication was addressed to the Department of Corporate Services at BSE Limited, ensuring compliance with stock exchange notification requirements.

Company Background

Bharatam Ventures Limited, formerly known as Pet Plastics Limited, operates from its Mumbai headquarters with CIN L66190MH1985PLC037217. The company maintains its corporate communication through connect@bharatamventures.com and can be reached at +91 82370 27000 for investor inquiries.