Rajesh Exports has confirmed that its promoters held no encumbered shares as of March 31, 2026. The disclosure, submitted to the Bombay Stock Exchange and National Stock Exchange, confirms that no shares were pledged or encumbered directly or indirectly during the financial year ended March 31, 2026.

The confirmation was provided by Rajesh Mehta, Chairman and Promoter of Rajesh Exports, on behalf of himself and other promoters. The filing was made in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Key Disclosures

The disclosure detailed the status of shareholding by the promoters for the specified period. The key points include:

• Period: Financial year ended March 31, 2026.
• Encumbrance Status: NIL number of shares encumbered or pledged as of March 31, 2026.
• Activity: No encumbrance was created on shares held by promoters during the financial year.

The letter addressed to the stock exchanges emphasized that the promoters have not made any encumbrance, directly or indirectly, on the shares held by them in the company during the stated period. This confirmation serves as a yearly disclosure mandated by the market regulator.

Regulatory Compliance

The submission fulfills the requirements of SEBI (SAST) Regulations, 2011, which require promoters to disclose the status of their shareholding encumbrances on an annual basis. The company requested the exchanges to take the disclosure on record.

Rajesh Exports could face exclusion from the Production Linked Incentive (PLI) scheme, with the Ministry of Heavy Industries potentially moving to remove the company from the programme, according to a report by Mint.

PLI Scheme Exclusion Risk

The PLI scheme is a key government initiative designed to incentivise domestic manufacturing by providing financial benefits to eligible companies meeting specified production targets. A potential exclusion from such a scheme would represent a significant development for Rajesh Exports, which operates in the gold and jewellery manufacturing space.

The report does not elaborate on the specific grounds or circumstances that may lead to the exclusion. No additional financial data or official statements were available in the source material to provide further context on the matter.