Neelkanth Rock-Minerals Limited has announced the re-appointment of its Managing Director following a board meeting held on March 28, 2026. The decision reflects the company's confidence in its leadership continuity and strategic direction.

Board Decision and Timeline

The Board of Directors approved the re-appointment of Mr. Noratmal Kawar (DIN: 00464435) as Managing Director based on recommendations from the Nomination and Remuneration Committee. The board meeting commenced at 15:30 p.m. and concluded at 16:15 p.m. on March 28, 2026.

Managing Director Profile

Mr. Noratmal Kawar brings substantial experience to his continued role as Managing Director. He is a commerce graduate with over 20 years of experience and expertise in manufacturing business operations. His leadership has been particularly notable in driving multiple initiatives to accelerate the company's production capabilities and sales performance.

Regulatory Compliance

The re-appointment follows all regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that Mr. Kawar is not debarred from holding the office of Director pursuant to any SEBI Order or other regulatory authority.

Family Connection

As part of the mandatory disclosures, the company has revealed that Mr. Noratmal Kawar is the brother of Anil Sayarchand Kawar, who serves as a Director of the company. This relationship disclosure ensures transparency in corporate governance practices.

Next Steps

The re-appointment requires formal approval from shareholders at the upcoming Annual General Meeting. The company has notified BSE Limited about this corporate development in compliance with Regulation 30 of SEBI Listing Regulations and relevant master circulars.

A significant inter-se share transfer within the promoter group of Neelkanth Limited has been completed, involving the disposal of 6,76,491 equity shares by Bhavik R. Bhimjyani to Rashmi C Bhimjyani through an off-market gift transfer. The transaction was executed on February 23, 2026, with formal disclosures filed with BSE Limited on February 24, 2026, under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Overview

The share transfer represents a substantial redistribution within the promoter group, with Bhavik R. Bhimjyani disposing of his entire significant holding to immediate relative Rashmi C Bhimjyani. This inter-se transfer among promoter family members falls under the exemption provided under Regulation 10(1)(a)(i) of SEBI (SAST) Regulations.

Shareholding Pattern Changes

The transaction resulted in a dramatic shift in individual shareholdings within the promoter group while maintaining the overall group holding at 70.81%. Bhavik R. Bhimjyani's stake reduced significantly from 15.57% to just 0.05%, while Rashmi C Bhimjyani's holding increased substantially.

Regulatory Compliance

Both parties filed the required disclosures under Regulation 29(2) of SEBI (SAST) Regulations for disposal and acquisition respectively. The transaction was completed in compliance with all regulatory requirements, with the aggregate promoter group holding remaining unchanged at 70.81%.

Company Capital Structure

Neelkanth Limited maintains its equity structure with a total share capital of Rs. 4,35,90,000 divided into 43,59,000 equity shares of Rs. 10 each. The shares remain listed on BSE Limited, and the inter-se transfer ensures continued stability in the company's ownership pattern while consolidating individual holdings within the promoter family.

The formal documentation confirms completion of all regulatory requirements for this substantial shareholding redistribution within the promoter group, with both disposal and acquisition disclosures properly filed with the stock exchange.