Jolly plastic industries Limited has announced a key management change with the resignation of its Company Secretary & Compliance Officer. The company disclosed this development in compliance with regulatory requirements under SEBI listing obligations.

Key Personnel Change Details

Ms. Sandhya Yadav has stepped down from her role as Company Secretary & Compliance Officer, with her resignation taking effect from March 30, 2026, at the closure of business hours. The resignation was communicated through a formal letter dated March 30, 2026.

Resignation Background

The departing officer cited personal considerations as the primary reason for her decision to resign. Ms. Sandhya Yadav confirmed that her resignation was purely due to personal commitments and the need to attend to personal matters. She explicitly stated that there were no other material reasons influencing her decision to step down.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. As part of the regulatory compliance process, Ms. Sandhya Yadav confirmed that:

• No unresolved disputes exist with the company on any matter
• No additional material information requires disclosure in connection with her resignation
• The decision was made purely on personal grounds

Succession Planning

Jolly Plastic Industries Limited has indicated that it is actively working to fill the vacant position. The company stated that it is in the process of appointing a new Company Secretary & Compliance Officer and will communicate the appointment details to stakeholders in due course. This approach ensures continuity in corporate governance and regulatory compliance functions.

Jolly Plastic Industries Limited has received in-principle approval from BSE Limited for a preferential share allotment, marking a significant step in the company's capital raising initiative. The approval enables the company to issue equity shares to non-promoter investors at a predetermined price floor.

BSE Approval Details

BSE Limited granted its in-principle approval on March 09, 2026, through letter number LOD/PREF/DA/FIP/1832/2025-26. The approval covers the following key parameters:

The company formally communicated this development to BSE on March 13, 2026, through its Company Secretary and Compliance Officer, Sandhya Yadav.

Regulatory Compliance Requirements

BSE has outlined comprehensive compliance requirements that the company must fulfill during the allotment process. The exchange emphasized that this in-principle approval should not be construed as automatic listing approval, requiring separate compliance procedures.

Key regulatory frameworks that must be adhered to include:

• Companies Act, 2013
• Securities Contracts (Regulation) Act, 1956
• Securities and Exchange Board of India Act, 1992
• Depositories Act, 1996
• SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
• SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Internal Control Measures

BSE has specifically advised the company to strengthen internal controls to monitor trading activities by proposed allottees. The exchange has mandated specific undertakings from allottees to ensure regulatory compliance:

• Prohibition on intra-day trading in company scrip until allotment date
• Restriction on any sales in company scrip until allotment completion
• Company responsibility to verify compliance with SEBI ICDR Regulation 167(6)

The exchange has warned that any non-compliance observed post-allotment may impact the listing of the issued shares.

Post-Allotment Obligations

Following the share allotment, the company must fulfill several critical obligations within specified timeframes. As per SEBI circular SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023, the company must submit a listing application within twenty days from the allotment date.

The listing application must be accompanied by applicable fees and compliance with post-issue formalities as outlined in Regulation 14 of the LODR Regulations. BSE has reserved the right to withdraw the in-principle approval if any submitted information is found to be incomplete, incorrect, misleading, or in contravention of applicable regulations.

Strategic Implications

This preferential allotment represents a strategic capital raising initiative for Jolly Plastic Industries, allowing the company to bring in non-promoter investors while maintaining regulatory compliance. The approval provides the company with flexibility in pricing, subject to the minimum floor price of ₹10 per share, enabling optimal capital raising based on market conditions at the time of allotment.