Gretex Corporate Services Receives SEBI Show Cause Notice Over Taurian MPS Ltd IPO

Gretex Corporate Services Limited has disclosed that it received a Show Cause Notice from the Securities and Exchange Board of India (SEBI) on August 03, 2026, in connection with the initial public offering (IPO) of Taurian MPS Limited. The intimation was made to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in accordance with SEBI Circular No. SEBI Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

SEBI Show Cause Notice: Key Details

The Show Cause Notice was issued under Rule 4(1) of the SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995, read with Section 15-I of the Securities and Exchange Board of India Act, 1992. The notice pertains to alleged non-compliances with the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, in connection with the IPO of Taurian MPS Limited. Gretex Corporate Services has been named as one of the noticees in the adjudication proceedings.

The following table summarises the key particulars of the Show Cause Notice as disclosed by the company:

Particulars:	Details
Authority:	Securities and Exchange Board of India (SEBI)
Nature of Action:	Receipt of Show Cause Notice under Rule 4(1) of SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 read with Section 15-I of the SEBI Act, 1992
Matter:	IPO of Taurian MPS Limited
Date of Receipt:	August 03, 2026
Alleged Violation:	Certain non-compliances with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
Financial Impact:	Cannot be quantified in monetary terms at this stage; subject to outcome of proceedings

Financial and Operational Impact

Gretex Corporate Services has stated that the impact, if any, on the financial, operational, or other activities of the company cannot be quantified in monetary terms to any extent at this stage. The company noted that any potential impact will be subject to the outcome of the present adjudication proceedings. No further financial details or estimates have been provided in connection with the notice.

Investor Relations Update

Separately, the company also disclosed the appointment of Budhaaditya Advisors Private Limited ('Stock Knocks') as its Investor Relationship Agency for providing Investor Relations Advisory Services. The agency is located at Unit - 346, 3rd Floor NH12, Action Area IIE, New Town, West Bengal 700161. This disclosure was made as part of the same regulatory intimation filed with the stock exchanges on August 4, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.12%	-4.32%	+3.61%	+66.80%	+60.15%	+60.15%

Gretex Corporate Services shareholders approved a final dividend of ₹0.70 per equity share for FY26, alongside the re-appointment of its statutory auditor, at its 18th Annual General Meeting (AGM) held on July 31, 2026. The resolutions were passed unanimously by members holding shares as of the record date, July 24, 2026, reflecting strong shareholder support for the company’s governance and capital distribution plans.

The AGM, convened under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, saw participation from 2,382 shareholders. Voting was conducted via remote e-voting, venue e-voting, and physical ballot papers, with Ms. Rachana Shanbhag of D.A. Kamat & Co serving as the independent scrutinizer. The total number of votes polled across all resolutions was 16,326,393, representing approximately 67.58% of the outstanding shares.

Key Resolutions Passed

Shareholders approved six ordinary resolutions during the meeting. The most significant financial outcome was the declaration of the final dividend. Additionally, the Board’s proposal to re-appoint M/S Jay Gupta & Associates (FRN 329001E) as Joint Statutory Auditor for a second term of five years was ratified without dissent. Mr. Alok Harlalka was also re-appointed as Director by rotation.

Resolution Description	Result	Votes in Favour
Adoption of Audited Financial Statements (FY26)	Passed Unanimously	16,326,393
Declaration of Final Dividend (₹0.70/share)	Passed Unanimously	16,326,393
Re-appointment of Alok Harlalka as Director	Passed Unanimously	16,326,393
Re-appointment of Jay Gupta & Associates as Joint Statutory Auditor	Passed Unanimously	16,326,393
Approval of Related Party Transactions	Passed Unanimously	1,434,748
Appointment of D.A. Kamat & Co as Secretarial Auditor	Passed Unanimously	16,326,393

Related Party Transaction Voting Disclosure

For Resolution No. 5, concerning the approval of Related Party Transactions, votes cast by the Promoter and Promoter Group were treated as invalid or abstained due to conflict of interest. Specifically, 14,891,621 votes from promoter entities and 24 ballot paper votes were excluded from the valid vote count. Consequently, the resolution was passed based on 1,434,748 valid votes from public shareholders, all of which were in favour.

Governance and Compliance

The remote e-voting facility was open from July 28, 2026, to July 30, 2026. The scrutinizer’s report, dated August 3, 2026, confirmed that the voting process complied with Sections 108 and 109 of the Companies Act, 2013. D.A. Kamat & Co was also appointed as the Secretarial Auditor for a term of five years starting from FY27, reinforcing the company’s commitment to regulatory compliance.