Sahara Maritime Limited’s board approved the reclassification of shareholder Ms Pramila Rajesh Soni from the promoter group to the public category. The decision aims to align the company’s shareholding pattern with SEBI listing regulations.

The board also noted a 91-day delay in appointing a qualified Company Secretary as Compliance Officer. The company has rectified the non-compliance by appointing Ms Ramdulari Saini effective July 1, 2026 and paid a prescribed fine of ₹1,07,380 to the exchange on September 3, 2026.

Shareholder Reclassification

Ms Soni holds 2,01,000 equity shares, representing 6.55% of the total paid-up equity share capital as on March 31, 2026. She requested the change under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirming she does not exercise control over the company’s affairs or hold key managerial positions.

The board approved the request subject to shareholder and stock exchange approvals. Ms Soni has undertaken not to hold more than 10% voting rights or act as a director for at least three years post-reclassification.

Auditor Re-appointment and AGM

The board recommended the re-appointment of M/s K. K. Jhunjhunwala & Co., Chartered Accountants, as statutory auditors for a five-year term. This requires approval at the 17th Annual General Meeting (AGM).

The AGM is scheduled for September 26, 2026, at 2:00 pm in Mumbai. The meeting will also consider the re-appointment of Mr Nadeem Aboobakar Hira as a director, who retires by rotation.

What the Numbers Show

The reclassification of a 6.55% stake from the promoter group to the public category significantly alters the company’s ownership structure. This move increases the publicly held float while reducing promoter concentration, potentially impacting liquidity and regulatory reporting requirements for future transactions.

Sahara Maritime Ltd has appointed Ms. Ramdulari Saini as its Company Secretary and Compliance Officer, effective July 1, 2026. The Board of Directors also approved the appointment of M/s K. K. Jhunjhunwala & Co. as the new Statutory Auditors to fill a casual vacancy caused by the resignation of the previous auditor, M/s G A M P & Co. The auditor appointment is subject to shareholder approval at the ensuing Annual General Meeting.

The decisions were taken during a Board meeting held on Wednesday, July 1, 2026, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting commenced at 03:00 PM and concluded at 04:15 PM.

Key Managerial Personnel Appointment

Ms. Ramdulari Saini has been appointed as Company Secretary and Compliance Officer, designated as Key Managerial Personnel. She is an associate member of the Institute of Company Secretaries of India and brings over two years of experience in company secretarial compliances related to the Companies Act and SEBI Regulations. Her appointment is effective from July 1, 2026, and she will perform duties prescribed under Section 205 of the Companies Act, 2013, and Regulation 6 of the Listing Regulations.

Statutory Auditor Appointment

The firm M/s K. K. Jhunjhunwala & Co., holding Firm Registration No. 11852W, was appointed as Statutory Auditors based on the recommendations of the Audit Committee. The firm was established in 1991 and offers services in auditing, taxation, advisory, and financial consultancy. This appointment fills the casual vacancy arising from the resignation of M/s G A M P & Co. (Firm Registration No. 031165N) via their letter dated May 29, 2026.