Fedders Holding Limited has fulfilled its regulatory obligations by submitting the mandatory Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter and year ended March 31, 2026. The submission was made to BSE Limited on April 14, 2026, ensuring compliance with securities market regulations.

Regulatory Filing Details

The certificate was digitally signed and submitted by Sakshi Goel, Company Secretary & Compliance Officer of Fedders Holding Limited. The filing pertains to the company's compliance with dematerialisation requirements as mandated by the Securities and Exchange Board of India.

RTA Confirmation Certificate

The submission includes a confirmation certificate from MUFG Intime India Private Limited (formerly Link Intime India Private Limited), which serves as the company's Registrar & Share Transfer Agent. The RTA certificate, dated April 06, 2026, was signed by Swapan Kumar Naskar, Associate Vice-President & Head (North India).

Compliance Verification

MUFG Intime India confirmed several key compliance aspects in their certificate:

• Securities received from depository participants for dematerialisation during the quarter ended March 31, 2026 were properly confirmed to the depositories
• All securities comprised in the certificates have been listed on stock exchanges where previously issued securities are listed
• Security certificates received for dematerialisation were confirmed or rejected within prescribed timelines
• Security certificates were mutilated and cancelled after due verification by depository participants
• Names of depositories were substituted in the register of members as registered owners within required timeframes

Corporate Information

Fedders Holding Limited, formerly known as IM+ Capitals Limited, maintains its registered office at C-15, RDC, Raj Nagar Ghaziabad, Ghaziabad U P-201001. The company's securities are listed on BSE Limited under scrip code 511628. This regulatory filing demonstrates the company's commitment to maintaining compliance with SEBI regulations governing depositories and participants in the Indian securities market.

Fedders Holding Limited has received an adjudication order from the Securities and Exchange Board of India (SEBI) dated March 11, 2026, imposing a total monetary penalty of ₹4,00,000 for multiple regulatory violations.

Penalty Details

The SEBI adjudication order imposes penalties on both the company and its executive leadership for violations of securities regulations:

Regulatory Violations

The company faced multiple compliance failures related to monitoring agency requirements and disclosure obligations. The primary violations include delayed submission of monitoring agency reports for four consecutive quarters in 2023, with delays ranging from 6 to 281 days.

Monitoring Agency Report Delays

Background of Violations

The violations stem from issues with Care Ratings Limited (CARE), which was initially appointed as the monitoring agency for the company's preferential issue exceeding ₹100 crores. CARE terminated its monitoring agency agreement on October 26, 2023, citing non-receipt of complete information and non-cooperation from the company.

The company had raised funds through issuance of convertible warrants at ₹168 per warrant, with one of the stated objects being loan repayment. However, disputes arose when CARE requested documentation for an unsecured loan from group company Raga Tradecon Private Limited, which the company claimed was based on oral agreement without written sanction letters.

Company's Response

Fedders Holding defended its position by arguing that the loan from its group company was based on oral agreement, which is legally valid under the Indian Contract Act, 1872. The company eventually appointed Informerics Valuation and Rating Pvt. Ltd. as the new monitoring agency on January 5, 2024, and submitted all pending quarterly reports on February 20, 2024.

Additional Compliance Failures

Beyond monitoring agency issues, SEBI found that the company failed to submit quarterly statements of deviation or variation in fund utilization as required under Regulation 32(1) of LODR Regulations. The audit committee minutes revealed no discussion regarding utilization of proceeds from the preferential allotment.

Payment Requirements

The company must remit the penalty amount within 45 days of receiving the order through SEBI's online payment facility. Failure to comply may result in recovery proceedings under Section 28A of the SEBI Act, including attachment and sale of movable and immovable properties.

The disclosure indicates no material impact on the company's operations despite the monetary penalty imposed on both the entity and its director.