Maruti Infrastructure Limited has issued a formal clarification to BSE Limited regarding recent movements in its share price, responding to a surveillance query from the exchange dated March 30, 2026.

Company's Response to BSE Surveillance

The infrastructure company addressed BSE's email reference number L/SURV/ONL/PV/APJ/2025-2026/1007, which sought clarification on price movement patterns. In its response, Maruti Infrastructure emphasized its consistent approach to regulatory disclosures and transparency.

Management's Position on Price Movement

The company's management stated that the movement in share price is purely market-driven, with no specific internal factors known to the leadership team. Chairman and Managing Director Nimesh D Patel signed the clarification, indicating that the company is not aware of any particular reason for the significant movement in share prices.

Regulatory Compliance Commitment

Maruti Infrastructure reiterated its commitment to maintaining full compliance with regulatory requirements. The company assured that it has consistently disclosed and will continue to disclose all material information that impacts its operations and performance. This includes adherence to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, within stipulated timeframes.

The company emphasized its ongoing commitment to comply with the Listing Regulations and other applicable laws, reinforcing its dedication to transparency and regulatory adherence in its communications with stakeholders and exchanges.

Maruti Infrastructure Limited has submitted an explanation to BSE Limited regarding the delayed disclosure of its Independent Director's demise. The company filed additional documentation on March 18, 2026, addressing BSE's inquiry about the timing of the corporate announcement made under Regulation 30 of SEBI (LODR) Regulations, 2015.

Initial Announcement and Regulatory Compliance

The company had initially announced the sad demise of Independent Director Mr. Shrikant N. Jhaveri on March 17, 2026, informing BSE that he passed away on March 15, 2026. The formal communication was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Explanation for Disclosure Delay

In response to BSE's communication seeking additional details under SEBI Circular dated November 11, 2024, Maruti Infrastructure clarified that the delay in disclosure was inadvertent. The company stated that it was not aware of the unfortunate demise within the stipulated 24-hour timeframe, and the information was conveyed to the company subsequently.

Chairman & Managing Director Nimesh D Patel emphasized that there was no malafide intention or deliberate delay in making the disclosure. The company made the necessary disclosure to the exchange at the earliest possible instance after receiving the information.

Corporate Governance and Future Compliance

The company expressed regret for the delay and assured BSE of its commitment to compliance with regulatory requirements. Maruti Infrastructure has committed to taking necessary steps to ensure timely disclosures in the future, demonstrating its dedication to maintaining proper corporate governance standards.

Tribute to Departed Director

The company acknowledged that it had immensely benefited from Mr. Shrikant N. Jhaveri's advice to the Board during his tenure as Independent Director. All directors and employees of Maruti Infrastructure Limited conveyed their deep sorrow and condolences to his family, reflecting the significant contribution he made to the company's governance and decision-making processes.