SRM Energy Limited has received a significant financial benefit through a loan write-off from its group company. The Delhi-based energy company announced that SRM Energy Tamilnadu Private Limited has written off an outstanding loan amount of Rs. 2,23,35,000 that was previously advanced to the company.

Loan Write-off Details

The complete write-off of the loan amount represents a substantial financial relief for SRM Energy Limited. The key details of this transaction are:

Financial Impact

The loan write-off will have a direct positive impact on SRM Energy's financial position. Following this development, the outstanding liability will be completely extinguished from the company's books of accounts. The company has confirmed that the accounting treatment will be carried out in accordance with applicable accounting standards, ensuring proper compliance with financial reporting requirements.

Regulatory Compliance

SRM Energy Limited has fulfilled its disclosure obligations by informing BSE Limited about this development on March 13, 2026. The announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates listed companies to disclose material events and information that could impact investor decisions.

The regulatory filing was signed by Pankaj Gupta, Company Secretary and Compliance Officer, ensuring proper authorization and compliance with corporate governance requirements. This transparent disclosure demonstrates the company's commitment to maintaining regulatory compliance and keeping stakeholders informed about significant financial developments.

SRM Energy Limited has issued a comprehensive corrigendum to its Letter of Offer dated February 04, 2026, addressing observations from SEBI and providing enhanced disclosures regarding the ongoing open offer by Mr. Umesh Narpatchand Sanghvi and Mrs. Sapna Sanghvi.

Corrigendum Submission and Regulatory Compliance

Sobhagya Capital Options Private Limited, the Manager to the Offer, submitted the corrigendum dated February 12, 2026, to BSE Limited. The document addresses SEBI's observations and incorporates additional risk factor disclosures as required by regulatory guidelines.

Subsidiary Divestment Disclosure

The corrigendum provides detailed disclosure regarding the divestment of SRM Energy Tamilnadu Private Limited, a wholly owned subsidiary, to the Selling Promoter. The subsidiary had accumulated loan liabilities of approximately Rs 43.27 crore and had approached the National Company Law Tribunal under the Insolvency and Bankruptcy Code for Corporate Insolvency Resolution Process.

Offer Price Methodology and Valuation

The corrigendum clarifies the valuation methodology employed by Mr. Manoj Kumar Jain, FCA, an independent Chartered Accountant and Registered Valuer. Multiple approaches were considered in accordance with SEBI regulations:

Target Company Financial Position

The document reveals the deteriorating financial condition of SRM Energy Limited, with negative net worth continuing to worsen across reporting periods.

Contingent Liabilities Resolution

The corrigendum addresses various contingent liabilities, including income tax demands and TDS issues. Most historical tax demands have been resolved, with payments completed during the current financial year.

Shareholder Complaints and Resolution

The document addresses complaints received from Krishkan Investment Private Limited through SEBI SCORES platform regarding the SPA price basis and offer price justification. The company provided comprehensive responses addressing all queries raised by the complainant.

The corrigendum confirms that no other complaints have been received regarding the open offer, and all regulatory compliance requirements have been met. The Letter of Offer and corrigendum are available on multiple platforms including SEBI, BSE, and the manager's websites for shareholder access.