Garware marine industries Limited has filed its quarterly compliance disclosure with BSE Limited, fulfilling regulatory requirements under SEBI (Depositories and Participants) Regulations, 2018. The disclosure pertains to the quarter ended March 31, 2026, and was submitted on April 15, 2026.

Regulatory Compliance Filing

The company submitted its disclosure under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 to BSE Limited. Company Secretary and Compliance Officer Pallavi P. Sledge signed the submission digitally on April 16, 2026, ensuring proper documentation of the regulatory filing.

Registrar Certification

Bigshare Services Pvt. Ltd., serving as the registrar and transfer agent, provided certification dated April 9, 2026, confirming compliance with dematerialization requirements. The registrar certified that all securities received from depository participants for dematerialization up to March 31, 2026 were properly confirmed to the depositories.

Key compliance confirmations include:

• Securities received for dematerialization were accepted or rejected as appropriate
• All securities comprised in certificates have been listed on the stock exchange
• Security certificates received for dematerialization were mutilated and cancelled after due verification
• Depository names were substituted in the register of members as registered owners within the required 15-day timeframe

Corporate Information

Garware Marine Industries Limited operates with CIN L12235MH1975PLC018481 and maintains its registered office at 3rd Floor, Prospect Chambers, D.N. Road, Fort, Mumbai - 400001. The company's compliance framework includes regular filings with stock exchanges and depositories to ensure adherence to SEBI regulations governing securities trading and ownership transfer processes.

Garware marine industries Limited has disclosed receiving a notice from the Economic Offences Wing regarding an alleged equipment lease rental dispute, as the company navigates ongoing litigation in the matter. The marine equipment manufacturer informed stock exchanges about the development under regulatory disclosure requirements.

EOW Notice Details

The company received a notice from the Deputy Superintendent of Police, Economic Offences Wing-II, Chennai, addressed to the company, some existing and former directors, and the Chief Financial Officer. The notice alleges that the company failed to repay equipment lease rentals under an Equipment Lease Agreement.

Ongoing Legal Proceedings

The dispute involves ongoing litigation between Garware Marine Industries and Integrated Finance Company Limited (IFCL) concerning recovery of machinery lease rent. The company has taken several legal measures to address the matter through proper judicial channels.

The company has placed a deposit of ₹30 lakhs in the Madras High Court as part of the ongoing litigation involving IFCL for recovery of machinery lease rent hired under the lease contract. Additionally, Garware Marine had filed a counter-suit against Integrated Finance Company Limited seeking recovery of ₹1.93 crores together with interest at 18% per annum, originally filed in the Bombay High Court.

Current Legal Status

Both suits have been transferred to the Madras High Court and subsequently clubbed together. The matters are currently pending before the court and awaiting listing for further hearing.

Management Response

The company's management is currently evaluating the matter and seeking appropriate legal advice to respond to the EOW notice. The management emphasized that the matter is sub judice before the Madras High Court and represents a civil dispute rather than a criminal matter.

Garware Marine Industries has committed to keeping stakeholders informed of any material developments in this matter as the legal proceedings continue. The company filed this disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with investors and regulatory authorities.