Max estates Limited has submitted its quarterly confirmation certificate under Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The certificate was filed with both BSE Limited and National Stock Exchange of India Limited on April 9, 2026, through Company Secretary & Compliance Officer Abhishek Mishra.

Regulatory Compliance Certificate

The confirmation certificate was issued by MAS Services Limited, which serves as the Registrar and Share Transfer Agent for Max Estates Limited. The certificate covers the period from January 1, 2026 to March 31, 2026, confirming compliance with dematerialization processes as mandated by SEBI regulations.

Dematerialization Process Confirmation

MAS Services Limited confirmed that all securities received from Depository Participants for dematerialization during the specified quarter were processed within the regulatory timeframe. The certificate specifically states that all securities were confirmed, either accepted or rejected, to the Depositories within 15 days of receipt from the Participants.

The registrar also confirmed that security certificates received for dematerialisation were properly mutilated and cancelled after due verification. Additionally, the names of the Depositories were substituted in the register of members as registered owners within the mandated 15-day period.

Administrative Details

The submission includes confirmation that the Register of Members was updated accordingly and that relevant information was communicated to the Depository and every Stock Exchange where the security is listed within the prescribed timeframe. The certificate was signed by Sharwan Mangla, General Manager at MAS Services Limited.

This quarterly submission demonstrates Max Estates Limited's adherence to SEBI's depositories regulations and ensures transparency in the dematerialization process for the company's securities.

Max Estates has reported delays in some of its real estate sales, attributing these setbacks to the ongoing West Asia war and slower project approval processes. The real estate developer is facing operational challenges that are impacting its sales execution and business timeline.

Impact of Geopolitical Tensions

The company has identified the West Asia war as one of the factors contributing to delays in its real estate sales operations. The geopolitical situation appears to be creating indirect effects on the company's business activities, potentially affecting investor sentiment and market conditions.

Regulatory Approval Challenges

Max Estates is also experiencing slower project approval processes, which are contributing to the delays in real estate sales. The regulatory environment appears to be creating additional hurdles for the company's project development and sales activities.

Business Operations Impact

These combined factors are affecting the company's ability to execute sales transactions according to its planned timeline. The delays represent operational challenges that the real estate developer is currently navigating in the market environment.