National Oxygen Limited has provided clarification to BSE regarding the delay in reporting the demise of its Whole-Time Director Mr. Gajanand Saraf, who passed away on 06.04.2026. The company submitted a detailed explanation on 17.04.2026, addressing the procedural delays in regulatory compliance.

Initial Regulatory Disclosure

The company initially filed the mandatory intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on 13.04.2026. The disclosure was signed by Managing Director Rajesh Kumar Saraf (DIN: 00007353) and submitted to BSE's Department of Corporate Services.

Clarification for Regulatory Delay

In a subsequent filing dated 17.04.2026, National Oxygen Limited provided detailed clarification for the delay in submission within the prescribed 24-hour timeline. The company cited exceptional and unavoidable circumstances that impacted normal operations following the sudden demise of the founder.

Board Composition and Impact

The company's board structure highlighted the significant impact of Mr. Saraf's demise on operations. The Board of Directors comprises Mr. Gajanand Saraf as Whole-Time Director (Father - Deceased), Mr. Rajesh Kumar Saraf as Managing Director (Son), Ms. Sarita Saraf as Executive Director (Daughter-in-law), and other Independent Directors.

The sudden demise of Mr. Gajanand Saraf, who was the founder and a key member of the promoter family, deeply impacted the immediate family and company functioning. The office remained non-operational for a brief period due to the bereavement.

Procedural Challenges

The company explained that the Digital Signature Certificate (DSC) required for filing disclosures was in possession of Mr. Rajesh Kumar Saraf, son of the deceased director. Other directors were not immediately positioned to access filing systems or complete OTP-based authentication procedures, leading to procedural delays in submission.

The delay was described as purely unintentional and occurred due to circumstances beyond the company's control, arising from an unforeseen and sensitive situation. The company requested BSE to condone the delay in submission.

About National Oxygen Limited

National Oxygen Limited is an ISO 9001:2015 certified company engaged in manufacturing liquid and gaseous oxygen, nitrogen, nitrous oxide, medical oxygen, and dissolved acetylene gas. The company operates three manufacturing facilities across Tamil Nadu and Puducherry, with its registered office located in Chennai.

National Oxygen Limited has officially informed BSE Limited that it does not qualify as a Large Corporate under the Securities and Exchange Board of India's framework for debt securities fund raising as of March 31, 2026. The company submitted this undertaking to ensure compliance with regulatory disclosure requirements and maintain accurate records with the stock exchange.

Regulatory Framework Reference

The communication specifically addresses SEBI Circular SEBI/HO/DDHS RACPODI/P/CIR/2023/172 dated October 19, 2023, which introduced revisions to the framework governing fund raising through debt securities issuance by Large Corporates. This circular establishes specific criteria for identifying Large Corporates and outlines corresponding disclosure and compliance obligations for entities falling under this classification.

Company Status Declaration

Managing Director Rajesh Kumar Saraf digitally signed the official communication, confirming that National Oxygen Limited does not meet the Large Corporate criteria as defined in the SEBI framework. This determination was made based on the company's financial position and operational scale as of the last date of the financial year.

Business Operations Overview

National Oxygen Limited operates as an ISO 9001:2015 certified manufacturer specializing in industrial and medical gases. The company's product portfolio includes:

• Liquid and gaseous oxygen
• Liquid and gaseous nitrogen
• Liquid and gaseous nitrous oxide
• Liquid and gaseous medical oxygen
• Dissolved acetylene gas

Manufacturing Infrastructure

The company maintains three manufacturing facilities across South India to serve its customer base:

Compliance Implications

By confirming its non-Large Corporate status, National Oxygen Limited clarifies that it is not subject to the enhanced disclosure requirements and compliance obligations that apply specifically to Large Corporates under the SEBI framework. This classification affects the company's fund raising options and regulatory reporting requirements for debt securities issuance. The formal notification ensures transparency with market participants and regulatory authorities regarding the company's current status under the applicable framework.