Novateor Research Laboratories Limited stated that submission of related party disclosures is not applicable for the half year ended September 30, 2026. The company cited its listing on the BSE SME Platform as the basis for this exemption under SEBI regulations.

The company filed a letter with the Department of Corporate Services at BSE Limited on October 15, 2026. The communication referenced Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which typically mandates such disclosures for listed entities.

Regulatory basis for exemption

Novateor invoked Regulation 15(2) of the SEBI LODR Regulations, 2015. This provision specifies that certain compliance requirements do not apply to entities listed on the SME Exchange. The exempted regulations include:

• Regulation 17, 17A, 18, 19, 20, 21, 22, 23, 24, 24A, 25, 26, and 27
• Clause (b) to (i) and (t) of sub-regulation (2) of Regulation 46
• Para C, D, and E of Schedule V

Consequently, the company asserted that compliance with Regulation 23(9) regarding related party transactions is not required for the specified period.

Corporate details

The filing was signed by Navdeep Subhashbhai Mehta, Managing Director of Novateor Research Laboratories. The company’s registered office is located in Sanand, Gujarat. The letter requested BSE to take the non-applicability status on record.

Novateor Research Laboratories passed all resolutions proposed at its 15th Annual General Meeting held on September 29, 2026. The company adopted audited financial statements for FY26 and reappointed Jitin Jaysukh Doshi as a director.

The meeting, chaired by Managing Director Navdeep Mehta, commenced at 3:00 pm at the registered office in Ahmedabad. Statutory registers were available for inspection, and the notice convening the meeting was taken as read before resolutions were put to vote. The voting results were subsequently filed with the stock exchange on October 1, 2026.

Key resolutions passed

Shareholders unanimously approved the adoption of the balance sheet, profit and loss statement, and cash flow statement for FY26. Jitin Jaysukh Doshi (DIN: 07325340), who retired by rotation, was reappointed as a director. The board also received authorization to shift the registered office within Gujarat but outside the local limits of the current city.

Voting details and exclusions

The scrutinizer’s report detailed the voting patterns for each resolution. Notably, votes cast by interested parties were excluded from the calculation of valid votes for related party transactions and director reappointments.

For the reappointment of Mr. Doshi and the related party transaction involving him, votes cast by Mr. Jitin Jaysukh Doshi, Jaysukhlal Shantilal Doshi, Preeti Jitin Doshi, Rushabh Jitin Doshi, and Yashika Jitin Doshi were treated as invalid under Section 188(1) of the Companies Act, 2013.

Similarly, for the related party transaction with Mr. Navdeep Mehta, votes cast by Mr. Navdeep Subhashbhai Mehta, Navdeep Mehta HUF, Jyoti Ben Subhas Chandra Mehta, and Subhash Chandra Mangal Mehta were excluded.

Related party transaction approvals

The company secured approval for two ordinary resolutions authorizing related party transactions for FY27 under Section 188 of the Companies Act, 2013. These caps ensure regulatory compliance for dealings with senior management.

What the numbers show

The approval of ₹50 lakh caps for both the Managing Director and the reappointed director indicates a standardized limit on related party exposures for the upcoming fiscal year. This uniform ceiling suggests a structured approach to governance, ensuring that individual director-level transactions remain within a predefined aggregate threshold relative to the company's scale. The high number of invalid votes in related party resolutions reflects strict adherence to statutory requirements excluding interested parties from voting on their own transactions.