Happy forgings Limited has submitted its mandatory compliance certificate under SEBI regulations for the quarter ended March 31, 2026. The submission was made to both BSE Limited and National Stock Exchange of India Limited on April 6, 2026, fulfilling regulatory requirements for listed companies.

Regulatory Compliance Details

The certificate submitted falls under Regulation 74(5) of SEBI (Depositories & Participants) Regulations, 2018. This regulation mandates companies to provide quarterly confirmations regarding dematerialization and rematerialization activities through their registrar and transfer agents.

Certificate Confirmation

MUFG Intime India Private Limited, formerly Link Intime India Private Limited, serves as the Registrar and Transfer Agent for Happy Forgings Limited. The certificate confirms compliance with depository regulations and share transfer procedures during the quarter.

Key aspects covered in the certificate include:

• Confirmation of securities received from depository participants
• Verification of dematerialization processes
• Compliance with prescribed timelines for share transfers
• Maintenance of register of members as per regulatory requirements

Quarter Activity Summary

The certificate specifically notes that no requests for dematerialization or rematerialization were received during the quarter ended March 31, 2026. This indicates stable shareholding patterns without significant changes in the mode of holding securities.

Company Information

Happy Forgings Limited operates from its registered office located at BXXIX-2254/1, Kanganwal Road, P.O. Jugiana, Ludhiana, Punjab. The company secretary Bindu Garg signed and submitted the compliance documents, ensuring adherence to corporate governance requirements.

This quarterly submission represents routine regulatory compliance, demonstrating the company's commitment to maintaining transparency in its depository operations and shareholder services.

Happy forgings Limited has disclosed a violation of SEBI (Prohibition of Insider Trading) Regulations, 2015 involving its Chief Financial Officer. The company submitted the mandatory intimation to BSE and NSE on March 24, 2026, detailing the regulatory breach and subsequent corrective actions taken by the management.

Violation Details

The violation involved Mr. Pankaj Kumar Goyal, Chief Financial Officer and Key Management Personnel of the company. The breach occurred through the execution of contra trades within a six-month period, violating the company's Code of Conduct framed under SEBI insider trading regulations.

Transaction Breakdown

On March 17, 2026, the CFO executed multiple transactions across both stock exchanges that constituted the regulatory violation:

The specific violation related to the contra trade involving 2,162 shares, where the CFO executed both buy and sell transactions within the prohibited six-month period. Importantly, these transactions resulted in no profit for the individual involved.

Regulatory Compliance and Reporting

The company demonstrated prompt regulatory compliance by reporting all transactions to stock exchanges on March 18, 2026, one day after execution. This disclosure was made under Regulation 7(2) read with Regulation 6(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015.

Audit Committee Action

The company's Audit Committee convened on March 24, 2026, to review the violation and determine appropriate action. After careful consideration of the circumstances, the committee decided on a lenient approach:

The committee's decision reflects the inadvertent nature of the violation, the absence of any financial gain, and the fact that this was the CFO's first such breach. No monetary penalty was collected, and consequently, no amount was transferred to SEBI's Investor Protection and Education Fund.

Corporate Governance Framework

The disclosure was signed by Ms. Bindu Garg, Company Secretary and Compliance Officer, demonstrating the company's commitment to maintaining transparency and regulatory compliance. The comprehensive reporting format followed SEBI Master Circular No. SEBI/HO/ISD/ISD-PoD-2/P/CIR/2023/039 dated March 23, 2023, ensuring all required details were properly documented and submitted to regulatory authorities.