Citizen Infoline Limited has submitted a regulatory compliance declaration to the Bombay Stock Exchange, confirming that its promoters have not created any new encumbrances during the financial year 2025-26. The declaration was filed under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Regulatory Declaration Details

Managing Director Omprakash Jain, holding DIN 00171365, signed the declaration on behalf of all promoters and promoter group members. The document was submitted to the Bombay Stock Exchange on April 1, 2026, addressing the Department of Corporate Services.

Compliance Statement

The declaration specifically states that promoters, members of promoter group, and persons acting in concert have not made any encumbrance, directly or indirectly, other than those already disclosed during financial year 2025-26. This comprehensive statement covers all entities within the promoter ecosystem of the company.

Jain, being duly authorized by other promoters and members of the promoter group, made the declaration on behalf of the entire promoter collective. The filing ensures transparency regarding any potential encumbrances on promoter shareholdings.

Audit Committee Disclosure

In compliance with Regulation 31(5) of the SEBI (SAST) Regulations, 2011, the company has requested placement of this disclosure at the ensuing Audit Committee Meeting. This procedural requirement ensures proper governance oversight of promoter-related disclosures.

Company Information

Citizen Infoline Limited operates from its registered office at 411, Sakar-2, Ellisbridge Corner, Ashram Road, Ahmedabad-380006. The company maintains presence across multiple cities including Ahmedabad, Mumbai, Pune, Surat, Vadodara, and Rajkot. With CIN L67120GJ1994PLC023561, the company was incorporated in Gujarat in 1994.

Citizen Infoline Limited has set March 31, 2026 as the record date for determining eligible shareholders of Citizen Solar Private Limited under the NCLT-approved amalgamation scheme. The Board of Directors approved this record date during their meeting on April 03, 2026, following receipt of the NCLT order dated March 19, 2026.

NCLT Order and Record Date Approval

The company received the NCLT order dated March 19, 2026 from the Hon'ble National Company Law Tribunal, Mumbai Bench, approving the Scheme of Amalgamation between Citizen Solar Private Limited (Transferor Company) and Citizen Infoline Limited (Transferee Company). Following a communication dated March 23, 2026 from the Transferor Company, the Board approved March 31, 2026 as the record date.

Share Exchange Mechanism

Under the approved scheme, eligible shareholders of Citizen Solar Private Limited will receive 11 equity shares of ₹10 each (credited as fully paid up) of Citizen Infoline Limited for every 1 equity share of ₹10 each held in the Transferor Company. The share exchange ratio is specified in Clause 4.1.1 of the amalgamation scheme.

Regulatory Compliance

The company has informed BSE Limited about the record date approval under scrip code 538786, maintaining compliance with Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was signed by Managing Director Omprakash Jain (DIN: 00171365).

Implementation Timeline

The amalgamation scheme implementation follows a structured timeline, with the NCLT order received on March 19, 2026, followed by the Transferor Company's communication on March 23, 2026, and the Board's formal approval of the record date on April 03, 2026. This represents a significant step in combining the operational capabilities of both entities in the solar energy sector.