Prakash steelage Limited, a manufacturer of stainless steel pipes and tubes, has received a show cause notice from the Securities and Exchange Board of India (SEBI) for alleged violations of multiple regulations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

SEBI Show Cause Notice Details

The company received the show cause notice on April 22, 2026, which was originally dated April 21, 2026. The notice was issued by SEBI's Chief General Manager & Adjudicating Officer under Rule 4(1) of the SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995.

Alleged Regulatory Violations

The show cause notice pertains to alleged violations of multiple regulations under the LODR framework. The specific violations cited include:

• Regulations 4(1)(a), (b), (c), (d), (e), (g), (h), (i), (j)
• Regulation 4(2)(e)(i)
• Regulation 23(9)
• Regulation 33(1)(a) and 33(1)(c)
• Regulation 34(3) read with Clause B(2) of Schedule V
• Regulation 48 of LODR Regulations

Ongoing Investigation Context

The company clarified that this show cause notice represents a continuation of an ongoing SEBI investigation. The initial intimation regarding this investigation was previously communicated to the stock exchanges on March 28, 2024.

Company Response

Prakash Steelage Limited has indicated that it is currently preparing its response to the show cause notice. The company has committed to furnishing its response within the permitted timelines as prescribed by SEBI regulations.

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and was communicated to both BSE Limited and the National Stock Exchange of India Limited. The communication was signed by Hemant P. Kanugo, Whole-time Director of the company.

Prakash steelage Limited has submitted its mandatory certificate under Regulation 74 of the SEBI (Depositories and Participants) Regulations 2018 for the quarter and financial year ended March 31, 2026. The submission was made to both BSE Limited and the National Stock Exchange of India Limited on April 09, 2026.

Regulatory Compliance Details

The certificate submission relates to securities dematerialized during the quarter ended March 31, 2026, as required under Regulation 74(5) of SEBI (Depositories and Participants) Regulations 2018. The company has furnished the necessary details to both stock exchanges where its shares are listed.

Registrar Confirmation

Bigshare Services Private Limited, serving as the company's Registrar and Transfer Agent, provided confirmation dated April 09, 2026. The registrar confirmed that securities received from depository participants for dematerialization up to March 31, 2026 were properly confirmed to the depositories.

The registrar's certificate confirms several key compliance aspects:

• Securities received for dematerialization were accepted or rejected and confirmed to depositories
• Securities comprised in the certificates have been listed on the stock exchange where earlier issued securities are listed
• Security certificates received for dematerialization have been mutilated and cancelled after due verification
• Names of depositories have been substituted in the register of members as registered owner within 15 days of receipt

Corporate Governance

The submission was signed by Hemant P. Kanugo, Whole Time Director (DIN: 00309894), demonstrating the company's commitment to regulatory compliance and corporate governance standards. The digital signature was applied on April 09, 2026.

Company Profile

Prakash Steelage Limited operates as a manufacturer of stainless steel pipes and tubes. The company maintains its registered office in Mumbai and is listed on both BSE and NSE with scrip codes 533239 and PRAKASHSTL respectively.