Nirav commercial has submitted its quarterly compliance certificate under SEBI Regulation 74(5) for the quarter ended March 31, 2026. The filing demonstrates the company's adherence to regulatory requirements governing depositories and participants.

Regulatory Filing Details

The certificate was issued by Bigshare Services Private Limited, the company's registrar and share transfer agent, on April 7, 2026. Nirav Commercials subsequently filed this certificate with BSE Limited on April 10, 2026, fulfilling its quarterly compliance obligations.

Compliance Confirmation

The certificate confirms that securities received from depository participants for dematerialization up to March 31, 2026 were properly processed and confirmed to the depositories. Bigshare Services verified that all securities comprised in the certificates have been listed on the stock exchange where the company's earlier issued securities are traded.

The registrar also confirmed that security certificates received for dematerialization were mutilated and cancelled after due verification by the depository participant. The names of the depositories were substituted in the register of members as registered owners within the prescribed 15-day timeframe.

Corporate Structure

Nirav Commercials Limited operates from its registered and corporate office located at B-1, Tulsi Vihar, Dr. A.B. Road, Worli Naka, Mumbai. The company secretary and compliance officer Amey Borkar signed the filing on behalf of the company. The submission was made under the company's BSE scrip code 512425.

Regulatory Framework

This quarterly filing falls under SEBI (Depositories and Participants) Regulations, 2018, which governs the functioning of depositories and their participants in India's securities market. The regulation ensures proper handling and processing of securities in dematerialized form, maintaining investor protection and market integrity.

Nirav Commercials Limited has successfully completed its postal ballot process, with shareholders overwhelmingly approving two critical resolutions related to its business restructuring. The company submitted comprehensive voting results and scrutinizer's report to BSE Limited on March 9, 2026, following the conclusion of the remote e-voting period.

Postal Ballot Process Overview

The postal ballot was conducted in accordance with Section 108 and 110 of the Companies Act, 2013, and SEBI regulations. Arun Dash of M/s. Arun Dash & Associates, Company Secretaries, served as the appointed scrutinizer for the voting process. The remote e-voting period remained open from February 5, 2026 (09:00 a.m. IST) to March 6, 2026 (5:00 p.m. IST), with votes being unblocked on March 6, 2026 at 5:32 p.m.

The cut-off date for determining eligible shareholders was set as January 30, 2026, with equity shareholders as on this date entitled to vote on the resolutions in proportion to their shareholding in the company's paid-up equity share capital.

Voting Results Summary

Both resolutions received strong shareholder support with identical voting patterns:

Resolution Details and Outcomes

The first resolution, a special resolution for the sale of undertaking to Hind Aluminium Industries Limited, received approval from 11 members voting in favour against 5 members voting against. This represents a significant corporate restructuring decision that required special resolution approval.

The second resolution concerned the approval of material related party transactions between Nirav Commercials Limited and Hind Aluminium Industries Limited. This ordinary resolution also received the same level of support, demonstrating consistent shareholder confidence in the proposed transactions.

Shareholder Participation Analysis

The voting participation demonstrated selective engagement across different shareholder categories:

Notably, the promoter and promoter group, despite holding 2,03,635 shares, did not participate in the voting process, while public non-institutional shareholders showed active participation with 14.25% of their holdings being voted.

Regulatory Compliance and Documentation

The company has fulfilled all regulatory requirements under Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Amey Borkar submitted the complete documentation to BSE Limited, including the scrutinizer's report and detailed voting results.

The scrutinizer's report confirms that the voting process was conducted in a fair and transparent manner, with proper safeguards and witness verification by Akshat Somani and Ishika Jain during the vote unblocking process. The voting results and scrutinizer's report have been made available on the company's website at https://investors.elesarfocchi.in/ as per regulatory requirements.