Galaxy Agrico Exports Limited Receives Additional Promoter Reclassification Requests

Galaxy Agrico Exports Limited has received formal requests from additional members of its promoter category seeking reclassification as public shareholders under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company informed BSE Limited about these latest requests, with individual applications dated March 30, 2026.

Latest Reclassification Requests

The company has received requests from 8 additional promoter category members seeking transition to public shareholder status. These requests follow the established regulatory framework under SEBI Regulation 31A for promoter reclassification.

Name of the Person:	Current Category	Shares Held	Shareholding %	Proposed Category
Amrita Jitendra Shah	Promoter	0	0.00	Public
Hemali Sudhir Patel	Promoter	0	0.00	Public
Manojkumar Harsukhlal Shah-HUF	Promoter	0	0.00	Public
Manoj Harsukhlal Shah	Promoter	0	0.00	Public
Milan Jinesh Sanghvi	Promoter	0	0.00	Public
Nalini Manojkumar Shah	Promoter	7475	0.04	Public
Sanjay Jayantilal Patel	Promoter	0	0.00	Public
Suketa Sanjay Patel	Promoter	0	0.00	Public

Regulatory Compliance Framework

Each requesting individual has provided detailed confirmations regarding their compliance with conditions specified in Regulation 31A(3)(b) of the Listing Regulations. The key compliance areas include:

Voting Rights: Confirmation of not holding more than 10% of voting rights in the company
Control Mechanisms: Declaration of no direct or indirect control over company affairs
Special Rights: Absence of any special rights through formal or informal arrangements
Board Participation: No current or nominee director positions
Management Roles: No key managerial personnel positions held
Regulatory Standing: Confirmation of not being willful defaulters or fugitive economic offenders

Approval Process and Commitments

The proposed reclassification is subject to approval from multiple stakeholders including the Board of Directors, shareholders, and BSE Limited. Each requesting party has committed to ongoing compliance with specific regulatory conditions post-reclassification.

Key Commitments Include:

Continued adherence to voting rights, control, and special rights restrictions
Compliance with board and management position restrictions for minimum three years
Adherence to SEBI circular requirements and delisting regulation provisions
Automatic reclassification as promoter if conditions are violated

Comprehensive Reclassification Activity

With these latest requests, Galaxy Agrico Exports Limited has now received reclassification applications from a total of 22 promoter category members. The earlier batch included 14 individuals who submitted their requests, all holding zero equity shares in the company. The current requests represent a continuation of the systematic promoter category restructuring under the established regulatory framework.

Galaxy Agrico Exports Limited will undertake necessary procedural steps in compliance with Regulation 31A of the Listing Regulations. The company has submitted the intimation along with copies of individual request letters to BSE Limited as required under Regulation 31A(8) of the Listing Regulations.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+3.68%	+16.86%	+3.82%	+18.58%	+18.58%	+18.58%

Galaxy Agrico Exports Limited has announced a significant change in its Board composition with seven directors submitting their resignations effective March 30, 2026. The company informed BSE Limited about this development in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Directors Who Resigned

The following seven directors have tendered their resignations from the Board of Directors:

Director Name	DIN Number
Mr. Nathabhai Jerambhai Sadaria	00167254
Mr. Ajay Ramjibhai Patel	00167284
Ms. Mausamiben Pareshbhai Sadaria	00167254
Mr. Jagdish Mansukhlal Shah	07158142
Mr. Manoj Harsukhlal Shah	02173383
Mr. Sanjay Jayantilal Patel	01632620
Mr. Kiran Bavanjibhai Govani	01294557

Resignation Details and Timeline

The Board of Directors accepted all resignations, with the directors being relieved from their duties with effect from March 30, 2026. The company submitted the formal intimation to BSE on March 31, 2026, along with individual resignation letters from each departing director.

Parameter	Details
Reason for Change	Resignation
Date of Cessation	March 30, 2026
Notification Date	March 31, 2026
Regulatory Compliance	SEBI LODR Regulation 30

Common Reason for Departure

All seven directors cited identical reasons for their resignations in their individual letters dated March 30, 2026. Each director stated that due to preoccupancy, they were not in a position to devote adequate time to the affairs of the company. The resignation letters were submitted from various locations in Rajkot, Gujarat, where the directors resided.

Regulatory Compliance

Galaxy Agrico Exports Limited has fulfilled its disclosure obligations under SEBI regulations by providing comprehensive information about the directorial changes. The company submitted all required details as mandated under Regulation 30 of SEBI LODR read with SEBI Circular dated July 13, 2023. The formal communication was signed by Prashant Sudhir Khairnar, Director (DIN: 11434708), on behalf of the company.

This mass resignation represents a significant restructuring of the company's Board composition, with seven directors stepping down simultaneously due to their inability to commit sufficient time to their directorial responsibilities.