N R Agarwal Industries Limited has announced a senior management change with the resignation of Mr. Ramesh Harkulkar from his position as Senior General Manager - Accounts and Taxation. The resignation became effective from the close of working hours on March 25, 2026, and was formally communicated to the stock exchanges on March 26, 2026.

Resignation Details

The company has disclosed the resignation under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Mr. Harkulkar cited personal reasons for his decision to step down from his senior managerial role.

Regulatory Compliance

The announcement was made in compliance with SEBI regulations, specifically Regulation 30 read with Schedule III of the SEBI Listing Regulations. The company has fulfilled its disclosure obligations by informing both BSE and NSE about this senior managerial personnel change.

The formal resignation letter was submitted to the Managing Director of N R Agarwal Industries Limited, expressing gratitude for the support and cooperation received during the tenure with the company. The resignation has been duly accepted by the management.

Stock Exchange Communication

The company communicated this development to both major stock exchanges where its shares are listed. The notification was sent to BSE Limited at Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai, and to the National Stock Exchange of India Limited at Exchange Plaza, Bandra Kurla Complex, Mumbai. Company Secretary and Compliance Officer Pooja Daftary signed the official communication to the exchanges.

N r agarwal industries Limited has submitted a re-revised disclosure under SEBI (SAST) Regulations 2011, correcting details related to share encumbrance following regulatory feedback. The company filed the updated disclosure on March 24, 2026, addressing corrections in post-event holding of encumbered shares.

Regulatory Compliance Update

The re-revision follows correspondence from BSE dated March 19, 2026, and builds upon previous disclosures submitted on December 18, 2025, and December 22, 2025. The correction addresses the continuation of Non Disposal Undertaking in favour of Axis Bank, ensuring proper alignment of chronological sequence of transactions.

Share Encumbrance Details

The disclosure covers the release of pledge by three promoters on December 16, 2025:

Transition of Encumbrance Structure

The release of pledge coincided with the creation of Non-Disposal Undertaking in favour of SBICAP Trustee Company Limited. The arrangement involves multiple lenders including State Bank of India and Punjab National Bank. Post-event holding of encumbered shares remains unchanged due to the continuation of Non Disposal Undertaking in favour of Axis Bank.

Regulatory Framework

The disclosure complies with Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. These regulations mandate promoters to disclose encumbrance creation, release, or invocation of shares to stock exchanges and target companies. The company's shares are listed on BSE Limited and National Stock Exchange of India Limited.

Documentation and Compliance

The re-revised disclosure was digitally signed by promoter R N Agarwal on March 24, 2026, ensuring proper authentication and regulatory compliance. The submission aligns the chronological sequence of transactions with the company's February 17, 2026 filing, providing clarity on the encumbrance structure.