Shree Rama Newsprint Limited has redeemed the second installment of its unlisted, secured redeemable Zero Coupon Non-Convertible Debentures (ZCDs), totaling ₹14.125 crore. The payment was made to Bank of India and Punjab National Bank on August 4, 2026, marking a key milestone in the company’s debt reduction strategy under its sanctioned terms. This redemption reduces the outstanding liability of these specific instruments by one-third, as per the agreed three-year annual repayment structure.

The redemption aligns with the plan approved by the Joint Lender Forum (JLF), which mandates that ZCDs issued to lender banks be redeemed in three equal annual installments starting at the end of the 10th year from issuance. By executing this second tranche, Shree Rama Newsprint demonstrates adherence to its regulatory and contractual obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Redemption Details

The company redeemed the debentures held by two major public sector banks. Each bank received one-third of their respective holdings, corresponding to the annual installment amount. The breakdown of the redemption is detailed below:

Each ZCD had a face value of ₹1,000. The total number of debentures redeemed in this tranche was 141,250 units across both lenders. The payments were processed digitally, with Company Secretary Shubham Ajmera signing off on the disclosure submitted to both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Regulatory Compliance and Future Outlook

The intimation was filed under Schedule III of the SEBI LODR Regulations, ensuring transparency for investors regarding the company’s debt servicing activities. As this is the second of three installments, the final redemption is scheduled for the subsequent year, completing the full payoff of this specific series of ZCDs.

This structured repayment reflects Shree Rama Newsprint’s commitment to managing its capital structure efficiently while maintaining good standing with its primary lending institutions. The successful execution of this tranche provides clarity on the timeline for the complete retirement of these zero-coupon instruments.

Shree Rama Newsprint Limited announced that its shareholders have approved the appointment of Mr. Alok Jain as an Independent Director through a special resolution. The decision was reached via a postal ballot remote e-voting process, with the results declared on July 6, 2026. The resolution received overwhelming support, with 99.98% of the votes polled in favour.

The remote e-voting period commenced on June 4, 2026, and concluded on July 3, 2026. Mr. Kinjal Shah, a Practicing Company Secretary, served as the Scrutinizer for the process and submitted the report to the Whole-time Director. The voting was conducted in compliance with Section 110 of the Companies Act, 2013, and Regulation 44 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

A total of 83,156 shareholders were eligible to vote as on the cut-off date of May 29, 2026. The special resolution required approval from the shareholders, and the votes cast in favour significantly exceeded the votes against, meeting the requisite majority for a special resolution.

Voting Results Summary

The table below details the voting pattern for the special resolution regarding the appointment of Mr. Alok Jain:

Scrutinizer's Report

Mr. Kinjal Shah confirmed that the postal ballot process was conducted in accordance with the Companies Act, 2013, and the relevant rules. The notice for the postal ballot was sent to members via email on May 25, 2026. The facility for remote e-voting was provided by National Securities Depository Limited (NSDL). The Scrutinizer certified that the resolution was duly passed as the votes cast in favour were three times more than the votes cast against, satisfying the requirements for a special resolution under Section 114 of the Companies Act, 2013.