Maharashtra Seamless Limited has formally notified shareholders whose dividends have remained unclaimed for seven consecutive years that their equity shares are liable to be transferred to the Investor Education and Protection Fund (IEPF) Authority during the financial year 2026-27. In addition to dispatching individual notices to concerned shareholders on May 6, 2026, the company subsequently published a public notice in "Business Standard" (English) and "Mumbai Lakshdeep" (Marathi) on May 9, 2026, pursuant to Section 124 of the Companies Act, 2013 and Rule 6 of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016. The development was communicated to the stock exchanges on May 7, 2026, and again on May 11, 2026, in compliance with Regulation 30 of SEBI (Listing, Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD/POD2/I/3762/2026 dated January 30, 2026.

Regulatory Background and Legal Basis

The action is mandated under Section 124(6) of the Companies Act, 2013, read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, as amended from time to time and notified by the Ministry of Corporate Affairs. Under these provisions, companies are required to transfer shares in respect of which dividends have not been claimed for seven consecutive years to the IEPF set up by the Central Government. In the case of Maharashtra Seamless, the unclaimed dividend period commences from the financial year 2018-19.

Key Dates and Shareholder Action Required

Shareholders are urged to act before the stipulated deadline to avoid the involuntary transfer of their holdings. The following key details summarise the action required:

Process for Claiming Outstanding Dividends

Shareholders may submit their claims to the Company Secretary at the Corporate Office or to the Registrar and Transfer Agent. The documentation requirements differ based on the mode of holding:

For shares held in demat form:

• Self-attested copy of the Client Master List
• Payment will be remitted electronically to the bank account registered against the demat account

For shares held in physical form:

• Investor Service Request Forms ISR-1, ISR-2, SH-13 (Nomination Form) or ISR-3 (opting out of Nomination), duly filled as per instructions
• Supporting documents including an original cancelled cheque leaf stating the account holder's name
• Investor Service Request Forms are available on the Company's website at www.jindal.com

Shareholders are also requested to update their email ID, present address, bank account details, nomination, and KYC details with their respective Depository Participants (for demat holdings) or with the Company's RTA by submitting Forms ISR-1, ISR-2, SH-13/SH-14/ISR-3 as applicable (for physical holdings).

Consequences of Non-Compliance and Reclaim Process

If dividends remain unclaimed by October 15, 2026, the concerned equity shares will be transferred to the IEPF. For shares held in physical form, the transfer will be effected by issuing duplicate share certificates, upon which the original share certificates will be deemed cancelled and non-negotiable. For shares held in demat form, the Company will issue appropriate corporate action instructions to the Depositories. Following the transfer, any corporate benefits arising from the shareholding will be credited to the IEPF.

Shareholders whose shares and dividends have been transferred to the IEPF retain the right to reclaim them. The reclaim process involves submitting the required documents to the Company to obtain an Entitlement Letter, followed by filing an online application in the prescribed e-Form IEPF-5, available on the Ministry of Corporate Affairs website at www.mca.gov.in . Details of affected shareholders and shares are available on the Company's website at www.jindal.com . The communication was signed by Ram Ji Nigam, Company Secretary, Maharashtra Seamless Limited.

Maharashtra seamless Limited has announced the voluntary closure of its subsidiary Internovia Natural Resources FZ LLC, which has been struck off. The company made this disclosure on April 9, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Impact and Subsidiary Performance

The subsidiary's financial contribution to the parent company was minimal during the financial year ended March 31, 2025. According to the disclosure, Internovia Natural Resources FZ LLC had no operational income but maintained a net worth.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI Listing Regulations. The company provided detailed information as required under the SEBI Master Circular No. HO/49/14/14(7)2025-CFD POD2/I/3762/2026 dated January 30, 2026.

Maharashtra Seamless Limited emphasized that the closure of Internovia Natural Resources FZ LLC will not have any impact on the company's operations or financial position. This indicates that the subsidiary was not a significant contributor to the parent company's business activities.

Corporate Structure Impact

The voluntary striking off of the subsidiary represents a streamlining of Maharashtra Seamless Limited's corporate structure. Given the subsidiary's nil income contribution and minimal net worth of 0.40 crore, the closure appears to be an administrative decision to optimize the company's subsidiary portfolio.

The disclosure confirms that this transaction does not involve any sale or disposal arrangements, as indicated by the "Not Applicable" status for various transaction-related parameters including consideration received, buyer details, and related party transaction classifications.