Oscar Global Limited has announced the extension of Managing Director Karan Kanika Verma's tenure by 20 days following a Board circular resolution. The decision comes after Mr. Verma had initially submitted his resignation from the director position, creating a need for the Board to secure continuity in leadership for critical business operations.

Board Resolution Details

The Board of Directors approved the tenure extension through a circular resolution passed on April 10, 2026. This decision was made in response to Mr. Verma's resignation letter dated April 04, 2026, which was originally set to take effect from April 10, 2026. Upon the Board's request and Mr. Verma's acceptance, the extension was formalized to ensure business continuity.

Extension Timeline and Rationale

The regulatory disclosure provides specific details about the extension arrangement:

The company cited statutory filing requirements and the best interests of the organization as the primary drivers for seeking this extension. This temporary arrangement allows Oscar Global Limited to maintain executive leadership continuity during a critical transition period.

Regulatory Compliance

Oscar Global Limited has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that Mr. Verma is not related to any existing members of the Board of Directors, maintaining independence in the leadership structure.

The announcement was signed by Gopal Bhattar, Additional Executive Director (DIN: 07465307), and communicated to the Bombay Stock Exchange Limited where the company's shares are listed under scrip code 530173. This extension provides Oscar Global Limited with the necessary time to address statutory requirements while ensuring smooth operational continuity during the leadership transition period.

Gopal Bhattar and Gopal Bhattar HUF have completed a major acquisition in Oscar Global Limited, substantially increasing their combined shareholding through strategic off-market transactions. The acquisition represents a significant consolidation of ownership in the BSE-listed company.

Acquisition Details

The substantial acquisition involved the purchase of 1,032,591 equity shares, representing 31.30% of Oscar Global Limited's total share capital. The transaction was executed through off-market mechanisms as per a Share Purchase Agreement dated September 30, 2025, combined with an open offer process.

Shareholding Transformation

The acquisition has resulted in a dramatic shift in the ownership structure of Oscar Global Limited. Prior to this transaction, Gopal Bhattar and Gopal Bhattar HUF held a combined stake of 414,112 shares, representing 12.54% of the company's equity capital.

Transaction Breakdown

The acquisition was completed in two separate transactions on March 30, 2026. Gopal Bhattar HUF acquired 826,500 equity shares in the first transaction, followed by an additional acquisition of 206,091 equity shares in the second transaction, both executed as Persons Acting in Concert (PAC).

Company Structure

Oscar Global Limited maintains a stable equity structure with Rs. 3.30 crore in share capital, divided into 3,300,000 equity shares of Rs. 10 each. The company's shares are listed on BSE Limited, and the total diluted share capital remains unchanged at Rs. 3.30 crore following the acquisition.

Regulatory Compliance

The disclosure was filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, dated April 14, 2026. Gopal Bhattar and Gopal Bhattar HUF are identified as belonging to the promoter group pursuant to the Share Purchase Agreement dated September 30, 2025, operating as Persons Acting in Concert in this acquisition.