Nesco Limited has disclosed the arrest of its Vice President (Events and Exhibitions) following an incident at its exhibition center and has now issued an official press release defending its operations and employees. The company made the initial disclosure under SEBI regulations and has provided additional clarification through a comprehensive statement.

Incident Timeline and Arrests

According to the company's disclosure, an event was organized at the Nesco Exhibition Center on April 11, 2026, during which an unfortunate incident occurred that resulted in fatalities and injuries. Subsequently, the Vice President (Events and Exhibitions), who holds the position of Senior Managerial Personnel, was taken into police custody on April 13, 2026. The investigation has also involved two other employees, Mr. Sunny Vinod Jain and Mr. Balakrishnan Balaram.

Company's Official Response and Defense

In its press release dated April 15, 2026, Nesco Limited has strongly defended its operations and employees. The company expressed heartfelt condolences to the families of those who lost their lives and hopes for recovery of individuals undergoing treatment. Nesco has categorically stated that there has been no lapse or negligence on the part of the company or its employees in relation to this incident.

The company emphasized its strict zero-tolerance policy towards possession, use, or distribution of illegal substances within its premises. All attendees are subject to clearly defined entry conditions, event terms, and on-ground protocols that expressly prohibit such conduct.

Safety Protocols and Compliance

Nesco has asserted that it complied with all applicable laws, regulatory requirements, and prescribed protocols governing events hosted at its venue. The company stated that adequate arrangements, including necessary safety and security measures, were put in place for the event in line with regulatory requirements.

Regulatory Compliance and Investigation Cooperation

The disclosure was made in compliance with Regulation 30 of SEBI (Listing Regulations and Disclosure Requirements) Regulations, 2015. The company is fully cooperating with investigating authorities and providing all necessary assistance to support a comprehensive and timely inquiry. Nesco has expressed full confidence that the ongoing investigation will establish that its employees discharged their responsibilities in accordance with established procedures without any wrongdoing.

The company has indicated it will refrain from further comments while the matter remains under investigation, maintaining its commitment to ensuring all events meet the highest standards of safety and compliance.

Nesco Limited has announced a board meeting scheduled for Monday, May 25, 2026, to review and approve crucial financial results for the quarter and financial year ended March 31, 2026. The announcement was made through a formal communication to stock exchanges on April 8, 2026.

Meeting Agenda and Key Decisions

The board meeting has been convened under Regulation 29(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The primary agenda includes several critical items for shareholder consideration.

Financial Results and Audit Reports

The board will consider and approve both audited standalone and consolidated financial results for the specified period. Along with the financial results, the directors will review corresponding audit reports that provide independent verification of the company's financial position and performance.

The meeting will also address the recommendation of final dividend, if any, which represents a significant decision point for shareholders regarding potential returns on their investment.

Trading Window Restrictions

In compliance with regulatory requirements, Nesco has implemented trading window restrictions for company shares. The trading window closure was previously communicated to exchanges on March 23, 2026.

Regulatory Compliance

The announcement demonstrates Nesco's adherence to listing regulations and transparency requirements. The formal communication was signed by Shalini Kamath, Company Secretary and Compliance Officer, ensuring proper corporate governance protocols are followed throughout the process.