Mac Charles (India) Limited has issued a clarification to BSE Limited regarding significant movement in its share price, responding to an inquiry from the exchange's surveillance department on April 08, 2026.

Company's Response to BSE Inquiry

The company received a communication from BSE with serial number L/SURV/ONL/PV/APJ/2026-2027/3528 seeking clarification on the price movement. In its response dated April 09, 2026, Mac Charles (India) Limited emphasized that it has fulfilled all disclosure obligations under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Compliance and Disclosure Status

The company stated that all necessary disclosures have been made within the stipulated timelines as required by SEBI LODR Regulations. Mac Charles (India) Limited confirmed that all information furnished by the company is available in the public domain, including events and information that have a bearing on the company's operations and performance.

Key compliance aspects highlighted by the company include:

• All price-sensitive information has been disclosed as required
• Material events affecting company operations have been reported
• Disclosures made within regulatory timelines
• Information available in public domain

Management's Position on Price Movement

The company's management clarified that the share price movement is purely market-driven and attributed to prevailing market conditions. Mac Charles (India) Limited emphasized that the management is not connected with any such price movement and stated it is not in a position to comment on the recent share price fluctuations on BSE Limited.

Regulatory Commitment

Mac Charles (India) Limited reiterated its commitment to comply with SEBI LODR Regulations 2015 provisions. The company assured BSE that it will continue to keep the exchange informed of material events and information, including price-sensitive developments. Company Secretary and Compliance Officer Richa Saxena signed the response, confirming the company's adherence to regulatory requirements and transparency standards.

Mac charles (India) Limited successfully conducted its NCLT convened General Meeting on February 25, 2026, where shareholders overwhelmingly approved the scheme of arrangement with Embassy Prism Ventures Limited. The meeting, held through video conferencing from 11:00 A.M. to 11:15 A.M. IST, saw participation from 35 members and achieved a decisive voting outcome with 99.99% approval.

Meeting Structure and Participation

The meeting was conducted through video conferencing (VC) and other audio-visual means (OAVM), with the deemed venue being the company's registered office at 1st Floor, Embassy Point, 150 Infantry Road, Bangalore - 560001. Mr. Saji P John served as the appointed Chairperson for the meeting.

Voting Results and Outcome

The shareholders decisively approved the scheme of arrangement between Mac Charles (India) Limited and Embassy Prism Ventures Limited. The comprehensive voting results demonstrate strong stakeholder support:

The voting process included both remote e-voting (February 21-24, 2026) and e-voting during the meeting, with a cut-off date of February 18, 2026, for determining eligible shareholders.

Scrutinizer's Confirmation

Prasanna Naganur, the scrutinizer appointed by the Hon'ble National Company Law Tribunal, confirmed that the resolution was passed with requisite majority pursuant to Section 230(6) of the Companies Act, 2013. The scrutinizer's report validated compliance with all regulatory requirements including SEBI regulations and confirmed that public shareholders' votes in favor significantly exceeded those against.

Regulatory Compliance and Next Steps

The meeting was conducted in full compliance with Section 108 of the Companies Act, 2013, Rule 20 of the Companies (Management and Administration) Rules, 2014, and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has published the detailed voting results and will proceed with the implementation of the approved scheme of arrangement, subject to final NCLT approval and other regulatory clearances.

Professional Support Team

Several key professionals supported the meeting proceedings, including Mr. Umesh Maskeri (Secretarial Auditor), Ms. Amrit Kaur (Statutory Auditor), and Mr. Sidharth Dhir (Deputy General Manager, Corporate Finance), ensuring proper conduct and regulatory compliance throughout the process.