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.

HEM Holdings and Trading Limited successfully conducted its Extra-Ordinary General Meeting on March 12, 2026, at 12:00 P.M. via video conferencing, where shareholders unanimously approved all four proposed resolutions. The meeting was deemed to be held at the company's registered office in Mumbai, with the cut-off date for voting eligibility set as March 6, 2026.

Meeting Participation and Voting Statistics

The EGM saw participation from 25 public shareholders through video conferencing, while no promoter group members attended the meeting. Remote e-voting was conducted from March 9-11, 2026, with Mr. Anuj Gupta appointed as the scrutinizer for the voting process.

Resolutions Passed

All four resolutions were passed with 100% approval from the votes cast, with no votes recorded against any resolution.

Resolution 1: Statutory Auditor Appointment

The company appointed M/s B.M. Gattani & Co., Chartered Accountants (FRN:113536W) as statutory auditors through an ordinary resolution.

Resolution 2: Managing Director Regularization

Shareholders approved the regularization of Mr. Ravi Manoharlal Kharwad's (DIN: 02079606) appointment as Managing Director (Executive Director Operations) through a special resolution.

Resolution 3: Secretarial Auditor Appointment

M/s. Ajay Suresh Yadav and Associates were appointed as secretarial auditors for a term of 5 years through an ordinary resolution.

Resolution 4: NBFC Registration Surrender

The company received approval to surrender its Certificate of Registration of NBFC issued by the Reserve Bank of India through a special resolution.

Voting Breakdown by Category

Scrutinizer's Confirmation

CS Anuj Gupta, the appointed scrutinizer, confirmed that all resolutions were passed with the requisite majority. The e-voting process was conducted through MUFG Intime India Private Limited's platform, with 45 members participating in the remote voting process.

Regulatory Compliance

The meeting was conducted in compliance with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has submitted the consolidated voting results to BSE Limited, where it is listed with scrip code 505520.