Industrial Investment Trust Limited has received a formal request for promoter reclassification under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company informed stock exchanges about this development through an official communication dated April 10, 2026.

Reclassification Request Details

Mr. Swaran Singh, currently classified as part of the promoter and promoter group, has requested reclassification to public shareholder category. The request pertains to his shareholding and status within the company structure.

Regulatory Compliance Framework

The reclassification request falls under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Swaran Singh has declared compliance with all prescribed conditions for such reclassification.

Key Compliance Conditions Met:

• Does not hold more than 10% of paid-up equity share capital or total voting rights
• Does not exercise control over company affairs, directly or indirectly
• Has no special rights through formal or informal arrangements
• Holds no position or representation on the Board of Directors
• Not acting as key managerial person in the company
• Not classified as willful defaulter under RBI guidelines
• Not designated as fugitive economic offender

Post-Reclassification Undertakings

Mr. Swaran Singh has provided specific undertakings regarding his future conduct post-reclassification. These commitments ensure continued compliance with regulatory requirements and maintain the integrity of the public shareholder classification.

The shareholder has committed to ongoing compliance with ownership, control, and special rights restrictions. Additionally, he has undertaken to maintain compliance with board representation and managerial position restrictions for a minimum period of three years from the reclassification date.

Company Response and Next Steps

Industrial Investment Trust Limited has confirmed receipt of the reclassification request and will undertake necessary steps in compliance with Regulation 31A of the Listing Regulations. The company has fulfilled its obligation under Regulation 31A(8) by providing timely intimation to stock exchanges.

The request letter from Mr. Swaran Singh has been enclosed as an annexure to the official communication. The company secretary Cumi Banerjee signed the official intimation letter, confirming the company's commitment to following the prescribed regulatory process for promoter reclassification. The rationale provided by Mr. Swaran Singh indicates he has no role in company affairs, no special rights, and no pecuniary interest in the company operations.

Industrial Investment Trust Limited has announced a key leadership appointment in its NBFC division, naming Mr. Mithilesh Kumar as Chief Executive Officer – NBFC effective April 09, 2026. The appointment was formally approved by the Board of Directors on April 08, 2026, and communicated to stock exchanges in compliance with regulatory requirements.

Board Approval and Regulatory Compliance

The company informed BSE Limited and National Stock Exchange of India Limited about the appointment pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows the requirements under SEBI Master Circular HO/49/14/14(7)2025- CFD-POD2/I/3762/2026 dated January 30, 2026.

Appointment Details

Professional Background

Mr. Mithilesh Kumar brings extensive banking expertise to his new role, with over 20 years of experience in retail liabilities, branch banking, and sales operations. His professional background encompasses comprehensive exposure to various aspects of branch banking, marketing and sales activities, and unit management.

Key Competencies

Mr. Kumar's expertise includes:

• Team Leadership: Proven ability in motivation and coordination of team members
• Performance Management: Experience in working towards team performance enhancement in liaison with higher management
• Communication Skills: Excellent organizing, communication, and inter-personal skills
• Technical Knowledge: Good IT knowledge supporting modern banking operations

Strategic Significance

The appointment of an experienced banking professional as CEO of the NBFC division underscores Industrial Investment Trust Limited's focus on strengthening its non-banking financial services operations. Mr. Kumar's two-decade experience in retail banking and sales is expected to contribute to the strategic development of the company's NBFC business segment.

The formal communication was signed by Cumi Banerjee, CEO (Secretarial, Legal and Admin) & Company Secretary, ensuring proper corporate governance protocols were followed in announcing this significant leadership appointment.