OBCL Limited Discloses FIR on ₹34 Crore Share Transfer, HC Quashes Case

OBCL Limited (formerly known as Orissa Bengal Carrier Limited) has informed the stock exchanges regarding the status of a First Information Report (FIR) filed against certain individuals, including members of its promoter group. The complaint, lodged on November 11, 2025, alleged the fraudulent transfer of shares involving an estimated amount of approximately ₹34 crore. The disclosure was made under Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

FIR Details and Persons Involved

The FIR was filed by Mrs. Sonal Manoj Agrawal at the Lakadganj Police Station, Nagpur, Maharashtra. The individuals named in the report included Mr. Ravi Agrawal, Mrs. Priti Agrawal, Mrs. Shakuntala Devi Agrawal, Mr. Gopal Kumar Agrawalla, Mrs. Muskaan Gupta, Mr. Ashok Kumar Agrawal, Mr. Subhash Chand Mittal, and Mr. Gaind Ram Sahu. The allegation pertained to the fraudulent transfer of shares between members of the promoter and promoter group.

The key details of the FIR and its resolution are summarised below:

Particulars	Details
Nature of Allegation	Fraudulent transfer of shares between promoter and promoter group members
Estimated Amount Involved	Approx ₹34 Crore
Date of FIR	November 11, 2025
Authority	Lakadganj Police Station, Nagpur, Maharashtra
Current Status	FIR quashed by High Court of Maharashtra at Nagpur
Date of Quashing	January 27, 2026
Financial Impact on Company	Not Applicable

Company's Stance and Legal Status

OBCL Limited clarified that, based on available information, the matter does not constitute fraud as defined under Regulation 2(1)(c) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003. The company stated that the share transfers were validly executed in dematerialized form through recognised depositories and depository participants, in compliance with applicable laws.

Subsequent developments in the legal proceedings have resolved the matter. The FIR was quashed on January 27, 2026, by the High Court of Maharashtra at Nagpur. The court passed the order in the presence of the concerned parties, who had accepted the transactions and arrived at a mutual settlement agreement.

Impact Assessment

The company explicitly stated that it is not a party to the FIR. Consequently, the litigation and its subsequent quashing have no financial implications for the listed entity. There are no expected financial impacts on the company's position, nor are there any claims, compensation, or penalties applicable to it.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.38%	-1.43%	-1.71%	-1.17%	+0.05%	-65.47%

OBCL Limited (formerly known as Orissa Bengal Carrier Limited) has intimated BSE Limited and the National Stock Exchange of India Limited about a Family Settlement Agreement (FSA) entered into among members of its promoter group. The disclosure, communicated via a letter dated May 12, 2026 from Mr. Ravi Agrawal, Promoter and Managing Director of the Company, has been made pursuant to Regulation 30 read with sub-para 05 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The Company has clarified that it is not a party to this agreement.

Background and Parties to the Agreement

The Family Settlement Agreement was executed on December 19, 2025, to amicably divide inherited family property among the members of the OBCL promoter family. The agreement is structured between two family groups:

First Party: Family of (Late) Mr. Sajjan Kumar Agrawal — comprising Mr. Manoj Kumar Agrawal, Mrs. Banarsi Devi Agrawal, Mrs. Sonal Agrawal, M/s. Manoj Agrawal & Sons (HUF), Mr. Dhruv Agrawal, and Ms. Tanisha Agrawal.
Second Party: Family of (Late) Mr. Ratan Kumar Agrawal — comprising Mr. Ravi Agrawal, Mrs. Priti Agrawal, Mr. Ashok Agrawal, and Mr. Subhash Chand Mittal.

All parties to the agreement are promoters and/or members of the promoter group and their immediate relatives.

Key Terms of the Family Settlement Agreement

The FSA outlines the division of various assets between the two family groups. The significant terms of the agreement are as follows:

Sr. No.	Term	Details
1.	Ancestral Property Transfer	House No. 438, Sector-14, Hissar, Haryana-125001 shall be transferred to the Second Party
2.	Premises Transfer	Premises at ABC Tower, C.A. Road Telephone Exchange, Bhandewadi, Nagpur-440008 shall be transferred to the First Party
3.	Equity Share Transfer	Majority of the Equity Shares held by the First Party in the Company shall be transferred to the Second Party
4.	Vehicle Transfer	Two 14-wheeler trucks bearing registration numbers CG04 MP 1480 (2019) and CG04 MP 1481 (2019) shall be transferred by the Second Party to the First Party

Promoter Shareholding Pattern

As per the latest shareholding pattern disclosed to the stock exchanges as on March 31, 2026, the relevant parties hold the following shares in OBCL Limited:

Sr. No.	Name of Shareholder	Number of Shares Held
1.	Mr. Manoj Kumar Agrawal	500
2.	Mrs. Banarsi Devi Agrawal	500
3.	Mrs. Sonal Agrawal	500
4.	M/s. Manoj Agrawal & Sons (HUF)	100
5.	Mr. Ravi Agrawal	98,91,015
6.	Mr. Subhash Chand Mittal	23,400

Regulatory Compliance and Company Position

OBCL Limited has confirmed that the FSA does not constitute a related party transaction, as the agreement has been entered into among the respective family members inter-se and the Company is not a party to the same. The Company has further stated that questions relating to issuance of shares, nominee board appointments, and potential conflict of interest disclosures are not applicable in this context. The intimation has been filed in accordance with applicable SEBI regulations, and the Company has requested the stock exchanges to take the information on record. The disclosure was signed by Muskaan Gupta, Company Secretary and Compliance Officer of OBCL Limited.