Modern Shares & Stockbrokers Limited has notified BSE Limited about its exemption from certain SEBI disclosure requirements related to related party transactions. The company's communication, dated April 1, 2026, clarifies that it falls below the regulatory thresholds that would mandate compliance with specific corporate governance provisions.

Regulatory Exemption Details

Under Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, companies meeting certain size criteria are exempt from various corporate governance provisions. The regulation specifically exempts listed entities 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.

Company's Financial Position

Based on the company's latest audited accounts as at March 31, 2025, Modern Shares & Stockbrokers meets the exemption criteria:

Exempted Compliance Requirements

The exemption covers multiple regulatory provisions including Regulations 17, 17A, 18, 19, 20, 21, 22, 23, 24, 24A, 25, 26, 27 and specific clauses of Regulation 46, along with Para C, D and E of Schedule V. Most notably for this disclosure, the company is exempt from Regulation 23(9), which mandates the disclosure of related party transactions on a consolidated basis.

Impact on Disclosure Obligations

As a result of this exemption, Modern Shares & Stockbrokers is not required to submit the "Disclosure of Related Party Transactions for the year March 31, 2026" as typically required under Regulation 23(9) of the SEBI (LODR) Regulations, 2015. The communication was signed by Anil Sugno Manghnani, Whole Time Director (DIN: 00012806), and submitted to BSE Limited for information and record purposes.

Modern Shares & Stockbrokers Limited has filed a regulatory compliance disclosure with the Bombay Stock Exchange, confirming that it does not qualify as a "Large Corporate" under SEBI's prescribed framework. The submission was made in accordance with SEBI Circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018.

Regulatory Compliance Framework

The SEBI circular addresses fund raising through issuance of debt securities by large entities. Under this framework, listed entities meeting specific criteria must classify themselves as "Large Corporate" and make mandatory disclosures to stock exchanges. The regulation aims to enhance transparency and monitoring of large corporate entities in the debt securities market.

Company's Compliance Status

Modern Shares & Stockbrokers has formally confirmed its non-compliance with the Large Corporate criteria through its filing dated April 1, 2026. The company's disclosure highlights several key aspects of its regulatory position:

Filing Details

The disclosure was submitted under reference number MSSL/002/2026-2027 and signed by Anil S Manghnani, Whole Time Director (DIN: 00012806). The filing specifically references Clause 2.2 of the SEBI circular, which outlines the criteria for determining Large Corporate status.

Regulatory Implications

By confirming its non-Large Corporate status, Modern Shares & Stockbrokers has clarified that:

• The company does not fall under the enhanced disclosure requirements
• Debt securities framework regulations do not apply to its operations
• The entity maintains compliance with applicable SEBI guidelines for its current business structure

This disclosure ensures transparency with regulatory authorities and provides clarity to stakeholders regarding the company's compliance status under current SEBI regulations governing large corporate entities and debt securities issuance.