Setco Automotive Limited has received regulatory relief as the Gujarat Pollution Control Board (GPCB) revoked its earlier closure direction for the company's subsidiary SASPL manufacturing unit. The revocation order dated April 16, 2026 allows the unit to resume operations for three months, marking a positive development following the initial closure direction issued on March 10, 2026.

Regulatory Relief Details

The GPCB issued the revocation order after conducting a comprehensive review of compliance measures undertaken by the manufacturing unit. The facility, located at Baroda-Godhra Highway, Kalol, District Panchmahal, Gujarat, had been subject to closure directions under Section 33A of the Water (Prevention and Control of Pollution) Act, 1974.

Compliance Conditions

The GPCB revocation order comes with specific compliance requirements that the subsidiary must maintain. The regulatory authority has imposed two key conditions for the continued operation of the manufacturing unit.

The conditions include:

• Compliance with Consolidated Consent Authorisation (CCA) conditions
• Adherence to the undertaking submitted by the subsidiary dated March 30, 2026

Operational Impact

The revocation allows SASPL to resume manufacturing operations at the Gujarat facility, subject to the specified conditions. The company has confirmed that necessary corrective actions have been implemented to address the regulatory concerns that led to the initial closure direction.

Company Response

Setco Automotive has acknowledged the regulatory development and emphasized its commitment to environmental compliance. The company stated that it will continue to ensure strict adherence to applicable environmental laws and regulatory requirements going forward. The management has expressed confidence that the implemented corrective measures will support sustained compliance with environmental standards.

Setco Automotive promoters have submitted their mandatory annual disclosures under Regulation 31(4) and 31(5) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011 for the financial year ended 31st March 2026. The declarations, filed on April 6, 2026, confirm that promoters have not created any new encumbrances on their shareholdings during the fiscal year.

Promoter Shareholding Details

The disclosure documents reveal the current shareholding pattern among the company's promoters. Setco Engineering Pvt. Ltd. emerges as the largest promoter entity, holding a substantial stake in the automotive company.

Regulatory Compliance Declarations

Each promoter has individually declared that they, along with persons acting in concert, have not made any encumbrance, directly or indirectly, on their shares of Setco Automotive Limited during FY26. The declarations specifically state that no new encumbrances were created beyond those already disclosed previously.

Key Promoter Entities

Setco Engineering Pvt. Ltd., represented by Director Udit Sheth, holds the commanding position among promoters with nearly half of the total promoter shareholding. TransStadia Enterprises Pvt. Ltd., formerly known as TransStadia Capital Pvt. Ltd., also filed its disclosure through Director Udit Sheth, maintaining its 1.23% stake.

Corporate Governance Compliance

The timely submission of these disclosures demonstrates Setco Automotive's commitment to regulatory compliance and corporate governance standards. Company Secretary Hiren Vala coordinated the filing process, ensuring all promoter declarations were properly documented and submitted to both BSE and NSE on the same date.

These annual disclosures serve as an important transparency mechanism, providing investors and regulatory authorities with updated information about promoter shareholding patterns and any changes in encumbrance status during the financial year.