HEM Holdings and Trading Limited's Board of Directors has declined a promoter reclassification request during its meeting held on April 01, 2026. The decision affects M/s. Sim Prabha Estates & Trading Co.(P) Ltd, which had sought to change its classification status under SEBI regulations.

Board Meeting Details

The board meeting was conducted via video conferencing on Wednesday, April 01, 2026, commencing at 04:00 P.M. and concluding at 04:30 P.M. The primary agenda item was the consideration of a reclassification request submitted by M/s. Sim Prabha Estates & Trading Co.(P) Ltd.

Reclassification Request Details

M/s. Sim Prabha Estates & Trading Co.(P) Ltd, bearing CIN: U70101MH1984PTC034405, had submitted a formal request dated March 23, 2026, seeking reclassification of its status. The entity requested a change from the 'Promoter Group' category to the 'Public' category in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Decision

After thorough consideration of the request, the Board of Directors decided to decline the reclassification application at this stage. The primary reason cited for the rejection was pending procedural requirements that need to be addressed before the reclassification can be processed.

Regulatory Compliance

The board meeting outcome was disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has fulfilled its obligation to inform the stock exchange about material decisions taken during board meetings. Company Secretary cum Compliance Officer Taruna Gupta signed the disclosure document, ensuring proper regulatory adherence.

HEM Holdings and Trading Limited has received a formal application from one of its promoter group entities seeking reclassification under securities regulations. The company informed BSE Limited on 23rd March, 2026, about receiving this significant corporate governance request.

Reclassification Request Details

M/s. Sim Prabha Estates & Trading Co.(P) Ltd, bearing CIN: U70101MH1984PTC034405, has submitted an application to reclassify its status from the 'Promoter/Promoter Group' category to the 'Public' category. This request falls under Regulation 31A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance Framework

The requesting entity has confirmed compliance with all conditions specified under Regulation 31A(3)(b) of the SEBI LODR Regulations. Key compliance parameters include:

• The entity and related persons hold nil voting rights, well below the 10% threshold requirement
• No exercise of control over company affairs, directly or indirectly
• Absence of special rights through formal or informal arrangements
• No representation on the Board of Directors
• No involvement as Key Managerial Personnel

Commitment and Undertakings

Sim Prabha Estates & Trading Co.(P) Ltd has provided specific undertakings for a three-year period from the date of reclassification. The entity commits that neither it nor any related persons will:

• Seek representation on the Board of Directors
• Act as Key Managerial Personnel of the company
• Exercise any form of control over company operations

Additionally, the entity has confirmed that neither it nor related persons are classified as wilful defaulters under Reserve Bank of India guidelines or designated as fugitive economic offenders.

Next Steps

HEM Holdings and Trading Limited has acknowledged receipt of the reclassification request and committed to undertaking necessary procedures to ensure compliance with Regulation 31A provisions. The company will process this application in accordance with the established regulatory framework for promoter group reclassifications.

The formal communication was signed by Taruna Gupta, Company Secretary cum Compliance Officer (Mem. No.: A38630), and submitted to BSE Limited for regulatory compliance and record purposes.