Clear Water Commodities Private Limited has announced another disposal of equity shares in Rhetan TMT Limited, filing the required disclosure under SEBI takeover regulations. The latest transaction represents a further reduction in the company's shareholding position in the steel manufacturing company.

Latest Share Disposal Details

The recent disposal involved 34,90,314 equity shares of Rhetan TMT Limited, executed through open market transactions across three consecutive days. This transaction reduced Clear Water Commodities' shareholding percentage from 2.59% to 2.15% of the total share capital.

Daily Transaction Breakdown

The disposal was executed over three trading sessions with varying volumes each day. The largest single-day transaction occurred on March 23, 2026, followed by smaller disposals on subsequent days.

Updated Shareholding Position

Following this latest disposal, Clear Water Commodities' holding in Rhetan TMT Limited stands at 1,71,52,765 equity shares, constituting 2.15% of the company's total equity. This represents a cumulative reduction from the previous holding of 2,06,43,079 shares (2.59%).

Regulatory Compliance and Documentation

The disclosure was made in accordance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011. The formal communication was signed by Director Baluram Lahoti (DIN: 01293637) and submitted to both BSE Limited and National Stock Exchange of India Limited on March 25, 2026.

Clear Water Commodities confirmed that it does not belong to the promoter or promoter group of Rhetan TMT Limited. The company's total equity share capital remains unchanged at ₹79,68,75,000, divided into 79,68,75,000 equity shares of face value Re. 1 each.

Company Information

Clear Water Commodities Private Limited, incorporated under CIN U51101GJ2012PTC070395, is registered at 56A, Sthanakwasi Jain Society, Usmanpura, Ahmedabad. The disclosure was formally communicated to the compliance officer of Rhetan TMT Limited at their registered office in Ahmedabad, Gujarat.

Rhetan TMT Limited has successfully conducted its separate meeting of Independent Directors on March 23, 2026, and formally notified stock exchanges about the meeting outcome. The company communicated the results to both BSE Limited and National Stock Exchange of India Limited on the same day, maintaining compliance with regulatory disclosure requirements.

Meeting Execution and Timeline

The Independent Directors meeting was held at the company's registered office on Monday, March 23, 2026, from 12:00 PM to 12:20 PM. This 20-minute session was conducted in compliance with Regulation 25(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates such meetings for listed companies.

Meeting Agenda and Outcomes

The Independent Directors successfully reviewed and considered three critical areas of corporate governance during their meeting:

• Performance Review of Non-Independent Directors and Board: Comprehensive assessment of the effectiveness and contribution of Non-Independent Directors and the Board of Directors as a collective entity
• Chairperson Performance Assessment: Detailed evaluation of the company's chairperson's leadership and effectiveness in their role
• Information Flow Analysis: Assessment of the quality, quantity, and timeliness of information flow between the company's management and the board of directors

Corporate Governance Compliance

The meeting represents successful completion of an important corporate governance requirement, ensuring that Independent Directors evaluated board effectiveness without the presence of executive directors. This separate meeting mechanism allowed for candid discussions about board performance and management effectiveness, contributing to enhanced corporate governance standards.

The outcome notification was signed by Shalin A. Shah, Managing Director (DIN: 00297447), and includes proper digital signatures as required for official corporate communications. This formal disclosure ensures compliance with stock exchange listing requirements under Regulation 30 and maintains transparency with stakeholders regarding corporate governance activities.