Pradeep Metals Limited has submitted its quarterly compliance certificate under SEBI regulations for the quarter ended March 31, 2026. The filing demonstrates the company's adherence to regulatory requirements for securities dematerialisation processes.

Regulatory Filing Details

The certificate was filed under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, and submitted to BSE Limited on April 13, 2026. Company Secretary and Compliance Officer Abhishek Joshi (ACS: 64446) signed and submitted the document digitally.

Registrar Confirmation

MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited, serves as the company's Registrar and Share Transfer Agent. The registrar issued the compliance certificate on April 3, 2026, confirming proper handling of dematerialisation processes during the quarter.

The certificate validates that securities received from depository participants for dematerialisation during Q4FY26 were processed according to regulatory requirements. All securities were confirmed to depositories within prescribed timelines, and proper procedures were followed for certificate mutilation and cancellation.

Compliance Confirmation

The registrar confirmed several key compliance aspects:

• Securities received for dematerialisation were properly accepted or rejected
• All securities were listed on appropriate stock exchanges
• Security certificates were mutilated and cancelled after verification
• Depository names were substituted in the register of members within prescribed timelines

Stakeholder Notification

Copies of the compliance certificate were sent to both major depositories - National Securities Depository Limited at Trade World, Lower Parel, Mumbai, and Central Depository Services (India) Limited at Marathon Futurex, Lower Parel, Mumbai. This ensures all relevant stakeholders are informed of the company's regulatory compliance status.

The filing represents routine quarterly compliance reporting, demonstrating Pradeep Metals Limited's commitment to maintaining proper corporate governance and regulatory adherence in its securities handling processes.

Pradeep Metals Limited has received a significant regulatory approval for its proposed amalgamation with Nami Capital Private Limited, marking a crucial step in the company's corporate restructuring initiative. The National Company Law Tribunal (NCLT) Mumbai Bench issued an order dated April 8, 2026, directing the company to proceed with shareholder approval processes.

NCLT Directives and Meeting Requirements

The tribunal has mandated Pradeep Metals to convene an equity shareholders meeting through video conferencing, audio-visual means, or physical presence to consider and approve the amalgamation scheme. The company must issue notices in Form CAA.2 and advertise in Financial Express (English) and Navshakti (Marathi) newspapers at least one month before the meeting date.

Scheme Structure and Share Exchange Ratio

The amalgamation involves Nami Capital Private Limited (transferor) merging with Pradeep Metals Limited (transferee). Based on the valuation report dated March 3, 2025, by registered valuer Mr. Shreyansh M Jain, the share exchange ratios are:

For Equity Shareholders: 19,007 equity shares of Pradeep Metals for every 300 equity shares of Nami Capital

For Preference Shareholders: 1 equity share of Pradeep Metals for every 17 preference shares of Nami Capital

Company Share Capital Structure

As of January 31, 2025, Nami Capital had authorized share capital of ₹21,00,00,000 comprising equity and preference shares, with paid-up capital of ₹96,36,840. Pradeep Metals, as of March 31, 2025, maintained authorized capital of ₹24,00,00,000 with paid-up equity capital of ₹17,27,00,000.

Creditor Approvals and Compliance

The NCLT dispensed with secured creditor meetings after Pradeep Metals' two secured creditors, with aggregate outstanding amounts of ₹59,95,82,830.26 as of September 30, 2025, provided consent affidavits. The tribunal also waived unsecured creditor meetings for 274 creditors with total dues of ₹39,10,17,651 as of July 25, 2025, citing the company's strong net worth position.

Strategic Rationale and BSE Approval

The amalgamation aims to achieve multiple strategic benefits including group structure simplification, reduced administrative compliance, enhanced capital allocation, and improved operational focus. BSE Limited issued a no-adverse-observation letter dated July 15, 2025, providing in-principle approval under SEBI regulations.

The scheme's rationale encompasses consolidation of legal entities, reduction in shareholding tiers for greater transparency, optimization of cash flows, and creation of enhanced shareholder value through focused operational strategy.

Regulatory Compliance Framework

Pradeep Metals has committed to comprehensive regulatory compliance including SEBI circular adherence, dematerialized share issuance, and detailed shareholder disclosures. The company must serve notices to various authorities including the Central Government, Registrar of Companies, Income Tax departments, and GST authorities, allowing 30 days for representations.

The NCLT order represents a significant milestone in the corporate restructuring process, with the final approval dependent on shareholder consent at the upcoming meeting.