Katare Spinning Mills Limited has officially declared its exemption from SEBI (Listing Obligations and Disclosure Requirements) Regulation 23(9) for the period ended March 31, 2026. The company communicated this exemption to the Bombay Stock Exchange through a formal declaration dated April 11, 2026.

Regulatory Exemption Criteria

The company qualifies for exemption under Regulation 15(2)(a) of SEBI (LODR) 2015, which provides relief from corporate governance provisions for listed entities meeting specific financial criteria. According to this regulation, companies with paid-up equity share capital not exceeding Rs. 10 crore and net worth not exceeding Rs. 25 crore as on the last day of the previous financial year are exempt from various compliance requirements.

Current Financial Position

Based on the company's last audited financial statement as on March 31, 2025, Katare Spinning Mills meets both exemption criteria:

Both figures fall significantly below the regulatory thresholds of Rs. 10 crore for paid-up capital and Rs. 25 crore for net worth, confirming the company's eligibility for exemption from related party transaction disclosure requirements.

Three-Year Financial Analysis

A chartered accountant's certificate provided by Dinesh A. Tulshigar reveals the company's financial trajectory over three consecutive years:

The analysis shows that while the paid-up capital remained constant at Rs. 2,85,00,000 across all three years, the company's net worth declined significantly from Rs. 6,26,40,875 in FY23 to Rs. 2,72,70,620 in FY25, primarily due to negative retained earnings of Rs. 73,11,332 in the latest financial year.

Regulatory Impact

This exemption means Katare Spinning Mills is not required to comply with various corporate governance provisions specified in regulations 17 through 27 of SEBI (LODR) 2015, including the disclosure of related party transactions under Regulation 23(9). The company has requested BSE to acknowledge this clarification and update their records accordingly.

Company Background

Katare Spinning Mills Limited, incorporated in 1980 with CIN L17119PN1980PLC022962, operates from its registered office in Solapur, Maharashtra. The company's manufacturing facility is located at Kamala Nagar, Tamalwadi, under the leadership of Managing Director Kishore Katare.

Katare spinning mills Limited has submitted its quarterly compliance certificate to the Bombay Stock Exchange, fulfilling regulatory requirements under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026.

Regulatory Compliance Submission

The company submitted the confirmation certificate on April 7, 2026, through a formal communication signed by Managing Director Kishore Katare. The submission was made in accordance with Regulation 74(5) of the SEBI regulations, which mandates quarterly reporting of dematerialization activities.

Registrar and Transfer Agent Confirmation

MUFG Intime India Private Limited, formerly known as LinkIntime India Private Limited, serves as the company's Registrar and Share Transfer Agent. The RTA issued the confirmation certificate on April 6, 2026, one day prior to the company's submission to the stock exchange.

The certificate confirms that:

• Securities received from depository participants for dematerialization during Q4FY26 were properly processed
• All securities were confirmed or rejected to depositories within prescribed timelines
• Security certificates received for dematerialization were mutilated and cancelled after due verification
• Depository names were substituted in the register of members as registered owners

Company Information

Katare Spinning Mills Limited operates from its registered office at "Katare Complex" in Solapur, Maharashtra, with manufacturing facilities located at "Kamala Nagar", Tamalwadi. The company, incorporated in 1980, maintains its corporate identity number as L17119PN1980PLC022962.

SEBI Compliance Framework

The submission represents part of the ongoing regulatory compliance requirements under SEBI's depositories and participants regulations. These quarterly confirmations ensure transparency in the dematerialization process and maintain investor confidence in the securities market infrastructure.

MUFG Intime India Private Limited, holding SEBI registration number INR000004058, continues to provide registrar services while ensuring adherence to all regulatory timelines and procedures for the textile manufacturing company.