GB Global Limited has received a confirmation from its promoter, Dev Land & Housing Private Limited, stating that no encumbrance has been created directly or indirectly on the shares held by the entity for the financial year ended March 31, 2026. The disclosure was submitted to the stock exchanges in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Dev Land & Housing Private Limited holds 5,00,00,000 equity shares in GB Global Limited as of the specified date. The promoter entity clarified that these shares remain free from any charge or lien. This confirmation is part of the yearly disclosure requirements mandated by the market regulator for substantial shareholders.

The 5,00,00,000 equity shares held by Dev Land & Housing Private Limited were allotted to the entity as it was the successful resolution applicant. The allotment followed a resolution plan approved by the Hon'ble National Company Law Tribunal, Mumbai Bench, via an order dated May 19, 2021. The company noted that these shares are currently under process for listing and trading on the stock exchanges.

The disclosures were addressed to the listing departments of the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited. The letters were signed by authorized signatories, including Vijay Thakordas Thakkar, Chairman & Managing Director of GB Global Limited, and Raghunath Vyankat Chavan, Director of Dev Land & Housing Private Limited.

Shareholding Details

The confirmation ensures transparency regarding the holding status of the promoter's shares during the financial year. The listing of the allotted shares remains pending procedural completion.

GB Global Limited has approved the re-appointment of CA Paresh Jain as an Independent Director for a second term of five years, effective from June 5, 2026. The decision, taken at the board meeting on June 4, 2026, is subject to approval by shareholders at the ensuing general meeting. This move ensures continuity in the company's governance structure by retaining an experienced director on the board.

The re-appointment was unanimously approved based on the recommendation of the Nomination and Remuneration Committee. The board meeting commenced at 5:30 p.m. and concluded at 6:20 p.m. on June 4, 2026. The disclosure was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Profile of the Re-appointed Director

CA Paresh Jain is a Chartered Accountant and Commerce Graduate with over 10 years of experience in taxation, regulatory compliance, and corporate advisory. He has previously worked with leading firms in the sector. The company confirmed that he is not debarred from holding the office of director pursuant to any SEBI order or any other authority.

Key Details of the Appointment

The company has enclosed the detailed disclosures as required under sub-para 7 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. GB Global Limited, formerly known as Mandhana Industries Limited, operates from its registered office in Mumbai.