R&B Denims Limited has moved forward with implementing its approved corporate restructuring by setting April 3, 2026, as the record date for share subdivision. This follows the successful completion of its Extraordinary General Meeting held on March 13, 2026, where shareholders overwhelmingly approved the capital structure changes.

Record Date Announcement and Implementation Details

The company formally notified BSE Limited on March 19, 2026, pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification, signed by Chairman and Managing Director Amit Dalmia, establishes the framework for the share subdivision process.

EGM Proceedings and Shareholder Response

The EGM was conducted at the company's registered office in Surat, Gujarat, from 11:30 A.M. to 11:40 A.M., with 36 shareholders in attendance, including 17 from the promoter group and 19 public shareholders. Chairman and Managing Director Amit Dalmia presided over the proceedings, supported by key management personnel.

Voting Results and Resolution Outcomes

The e-voting process conducted from March 10-12, 2026, demonstrated strong shareholder confidence across all three resolutions. Out of 43,332 total shareholders on the record date of March 6, 2026, significant participation was recorded with exceptional approval rates.

Capital Structure Transformation

Following the EGM approval and MOA amendment, the company has implemented significant changes to its capital structure. The formal notification confirms the completion of all regulatory requirements for the restructuring process.

Regulatory Compliance and Next Steps

The proceedings were conducted in strict accordance with Regulation 30 read with Para A of Part A of Schedule III of SEBI regulations. The scrutinizer's report confirmed that all resolutions were duly passed with requisite majority, and the e-voting process was facilitated by National Securities Depository Limited (NSDL). With the record date now established, shareholders holding equity shares as of April 3, 2026, will be eligible for the subdivision benefits.

R&B Denims Limited has achieved a favourable outcome in its appeal against a significant GST penalty, with the appellate authority ruling in the company's favour and setting aside the imposed penalty entirely.

Penalty Details and Background

The penalty matter originated from an issue relating to the availment of Input Tax Credit (ITC), which led to enforcement action by tax authorities. The company had initially disclosed this matter in an earlier announcement dated April 18, 2025.

Appeal Outcome

The company had filed an appeal against the penalty order before the appropriate appellate authority. The appellate proceedings have now concluded with a decision in favour of R&B Denims Limited. The ruling has resulted in the complete setting aside of the penalty that was originally imposed by the GST authorities.

Financial Impact Assessment

The company has stated that it does not foresee any financial impact on account of this matter. This indicates that the successful appeal has eliminated any potential financial burden that could have arisen from the penalty, providing clarity on the company's financial position regarding this tax dispute.

Regulatory Compliance

The update was communicated to BSE Limited on March 17, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation requires listed companies to disclose material events and developments that could impact their operations or financial position.