Prakash Steelage Limited has disclosed that its promoters have not created any encumbrance on their shareholdings during the financial year ended March 31, 2026. This declaration was formally submitted to the stock exchanges by Promoter Prakash C. Kanugo on April 4, 2026.

The disclosure was made in accordance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. In the filing addressed to the BSE Limited and the National Stock Exchange of India Limited, Kanugo confirmed that the promoters, promoter group, and persons acting in concert have not made any encumbrance, directly or indirectly, on the shares held by them in the company.

Declaration Details

The communication serves as a formal compliance update regarding the status of the promoter's holdings. The document was digitally signed and submitted to the listing departments of both major exchanges.

The company requested the exchanges to acknowledge the communication and place it on their records. This filing provides transparency to shareholders regarding the leverage status of the promoter's equity in the firm.

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.