Confidence Petroleum India Limited has issued a clarification to the Bombay Stock Exchange regarding the significant increase in trading volume of its securities, responding to BSE's surveillance inquiry dated March 13, 2026.

BSE Inquiry and Company Response

The BSE had sought clarification from the company through letter No. L/SURV/ONL/PV/SG/2025-2026/976 regarding unusual volume movement in the company's securities. In its response, Confidence Petroleum emphasized its commitment to regulatory compliance and transparency in disclosures.

Regulatory Compliance Statement

The company confirmed that it has been promptly disclosing all material information and events that may impact its operations or performance. This includes all price-sensitive information shared with stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

No Pending Material Information

Confidence Petroleum clarified that there is no pending information, announcement, or event at the company level that could influence the price or volume behavior of its securities. The company stated that all material developments have been disclosed in accordance with regulatory requirements.

Market-Driven Volume Increase

The company attributed the surge in trading volume to market-driven factors and confirmed it is not aware of any specific reasons for the increased trading activity. This response indicates that the volume spike was not related to any undisclosed corporate developments or material events.

The clarification was signed by Company Secretary Prity Bhabhra and submitted to BSE surveillance on March 13, 2026, demonstrating the company's prompt response to regulatory inquiries.

Confidence petroleum India Limited successfully concluded its Extra-Ordinary General Meeting (EGM) on February 27, 2026, with shareholders demonstrating strong support for the company's board restructuring initiatives. The meeting, conducted through video conferencing in compliance with regulatory requirements, saw the approval of three critical director appointments with overwhelming majority support.

Meeting Overview and Participation

The EGM was held on February 27, 2026, with a record date of February 20, 2026, encompassing 111,392 total shareholders. The meeting witnessed participation from 36 shareholders through video conferencing, comprising 7 from the promoter and promoter group category and 29 from the public category.

Voting Results and Resolutions

All three special resolutions presented to shareholders received exceptional support, with each resolution securing over 99% approval from the votes polled. The total votes polled across all categories reached 153,656,066, representing 46.25% of the company's outstanding shares of 332,241,043.

Resolution 1: Mrs. Nimisha Rohit Agrawal Appointment

Shareholders approved the appointment of Mrs. Nimisha Rohit Agrawal (DIN: 11442309) as Non-Executive Independent Director with 153,645,472 votes in favor (99.99%) against 10,594 votes (0.01%).

Resolution 2: Mr. Prasad Manjarkhede Appointment

The appointment of Mr. Prasad Manjarkhede (DIN: 11521864) as Executive Director received the strongest support with 153,656,021 votes in favor (99.99%) and only 45 votes against (0.01%).

Resolution 3: Mrs. Ketki Mahendra Save Appointment

Shareholders approved Mrs. Ketki Mahendra Save (DIN: 07171129) as Non-Executive Non-Independent Director with 153,645,870 votes in favor (99.99%) against 10,196 votes (0.01%).

Category-wise Voting Pattern

The promoter and promoter group demonstrated unanimous support across all resolutions, with 152,329,035 votes (82.04% of their holdings) cast entirely in favor. Public institutions showed strong alignment with 1,128,361 votes polled (65.72% of their holdings), while public non-institutions had lower participation with 198,670 votes (0.13% of their holdings).

Scrutinizer Confirmation

Siddharth Sipani of Siddharth Sipani & Associates, appointed as the scrutinizer, confirmed the validity of all voting results. The scrutinizer's report, dated February 28, 2026, verified that all three special resolutions were passed with requisite majority, with no invalid votes recorded across any resolution. The e-voting process was conducted through NSDL's platform from February 24-26, 2026, ensuring transparent and secure shareholder participation.