Panther Industrial Products Limited has submitted its mandatory compliance certificate under Regulation 74(5) of SEBI (Depository and Participant) Regulations, 2018 for the quarter ended 31st March, 2026. The submission was made to BSE Limited on 8th April, 2026, demonstrating the company's adherence to regulatory requirements.

Regulatory Compliance Details

The certificate was issued by MUFG Intime India Private Limited (formerly Link Intime India Private Limited), which serves as the company's registrar and transfer agent. The certification was dated 3rd April, 2026, and covers the dematerialisation processes for the quarter and year ended 31st March, 2026.

Certificate Confirmation

MUFG Intime India Private Limited confirmed that all securities received from depository participants for dematerialisation during Q4 FY26 were properly processed. The registrar verified that:

• Securities received for dematerialisation were confirmed or rejected to depositories within prescribed timelines
• Security certificates were mutilated and cancelled after due verification by depository participants
• Names of depositories were substituted in the register of members as registered owners
• All securities comprised in the certificates have been listed on stock exchanges where earlier issued securities are listed

Corporate Governance

The submission was signed by Kaushik C. Shah, Managing Director (DIN: 00009510), on behalf of Panther Industrial Products Limited. The certificate from MUFG Intime India was authenticated by Ashok Shetty, Sr. Vice President-Corporate Registry.

This regulatory filing demonstrates the company's commitment to maintaining proper corporate governance standards and ensuring compliance with SEBI regulations governing depository and participant operations.

Panther Industrial Products Limited has successfully concluded its board meeting and approved the scheme of amalgamation with Shivang Edibles Oils Limited. The board meeting, held on April 8, 2026, resulted in formal approval of the corporate restructuring initiative under Sections 230-232 of the Companies Act, 2013.

Board Meeting Outcome

The board of directors meeting was conducted with proper regulatory compliance and concluded with significant corporate decisions:

Amalgamation Structure and Financial Comparison

The approved scheme involves Panther Industrial Products Limited as the Transferor Company merging with Shivang Edibles Oils Limited as the Transferee Company. The financial comparison as at March 31, 2025 shows the scale difference between the entities:

Share Exchange Ratio and Mechanism

The board approved a specific share exchange mechanism for the amalgamation. Under the approved scheme, shareholders of Panther Industrial Products Limited will receive 1 equity share of face value ₹10 each in Shivang Edibles Oils Limited for every 19 fully paid-up equity shares held in the Transferor Company.

Post-Merger Shareholding Pattern

The amalgamation will significantly alter the shareholding structure of the listed entity upon effectiveness of the scheme:

Rationale and Strategic Benefits

The amalgamation aims to consolidate business operations in one entity and strengthen the merged entity's position by optimizing synergies. The Transferor Company has been facing challenges in its main business due to tight competition, while the Transferee Company seeks to leverage the Transferor's financial consultancy expertise for its capital market operations.

Regulatory Compliance and Next Steps

The scheme approval follows strict adherence to SEBI regulations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company will now proceed with filing for necessary statutory approvals, including obtaining no-objection letters from BSE Limited and approval from the National Company Law Tribunal. The meeting was officially authorized by Kaushik C. Shah, Managing Director, ensuring proper documentation and regulatory compliance for this significant corporate restructuring.