Mann Group and Sandhu Group, members of the promoter group of Simbhaoli Sugars Limited, have confirmed that they did not create any encumbrances on the company's shares during the financial year ending March 31, 2026. The declarations, submitted to the stock exchanges, ensure that no new charges or liens were placed on the shares other than those previously reported. This disclosure provides clarity regarding the promoter's holding structure during FY26.

The filings were made in compliance with Regulation 31(4) of the Substantial Acquisition of Shares and Takeovers Regulations, 2011. This regulation requires promoters to disclose any encumbrances on their holdings to ensure transparency for shareholders. Both declarations explicitly state that no direct or indirect encumbrances were created by the respective promoter groups during the specified financial year.

Key Details of the Disclosures

Gurmit Singh Mann signed the declaration on behalf of the Mann Group on April 2, 2026. Gurpal Singh submitted the declaration for the Sandhu Group on April 7, 2026. The disclosures were addressed to BSE Limited, The National Stock Exchange of India Limited, the Chairman of the Audit Committee, and the Company Secretary of Simbhaoli Sugars Limited.

Simbhaoli Sugars Limited disclosed the resignation of the statutory auditor for its material subsidiary, Simbhaoli Power Private Limited (SPPL), effective for the financial year 2026-27. The resignation was communicated via a letter dated May 29, 2026, and the information was received by the company on June 4, 2026. The development impacts the audit oversight of SPPL, a key subsidiary of the listed holding company.

MSK A & Associates LLP (Formerly known as M S K A & Associates) cited internal quality control policies as the primary reason for stepping down. The firm stated that under the framework of SQC 1, which governs quality control for audit and review engagements, it regularly evaluates client and engagement acceptance or continuance. Following this evaluation for the financial year 2026-27, the firm determined it could not continue as the statutory auditors.

The auditor had been appointed to serve SPPL for the financial years beginning April 1, 2022, and ending March 31, 2027, at the Annual General Meeting held on December 30, 2022. Prior to the resignation, the firm completed the audit for the financial year 2025-26. However, the audit report issued on May 29, 2026, contained a disclaimer of opinion on the financial statements for the year ended March 31, 2026.

The disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Simbhaoli Sugars Limited is currently undergoing a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, effective July 11, 2024. The powers of the Board of Directors stand suspended during this period.

Auditor and Resignation Details

The following table outlines the key details regarding the auditor's association and the resignation:

The auditor confirmed in the filing that there were no material reasons for the resignation other than those stated regarding the evaluation of continuance. The firm also noted that no efforts were required to be made prior to resignation by approaching the Audit Committee or Board of Directors, as the decision stemmed from internal quality control protocols.