Suyog Gurbaxani Funicular Ropeways has initiated a postal ballot process to seek shareholder approval for the re-appointment of Mrs. Manisha Shelar as an Independent Woman Director and the re-classification of Mr. Somnath Lature from the Promoter Group to the Public category. The resolutions will be decided through remote e-voting, which commences on July 03, 2026, and concludes on August 01, 2026. The company has engaged National Securities Depository Limited (NSDL) as the agency facilitating the e-voting process.

Mrs. Manisha Shelar, whose first term ends on September 03, 2026, has been recommended for a second term of three years effective from September 04, 2026, to September 03, 2029. The Board approved the re-appointment based on the recommendation of the Nomination and Remuneration Committee. Mrs. Shelar holds a Master of Technology (M.Tech.) in VLSI Design and a Bachelor of Engineering (B.E.) in Electronics and Telecommunication Engineering. She currently serves as an Assistant Professor at Jawahar Education Society's Institute of Technology, Management & Research, Nashik, and is pursuing a Ph.D. at Pimpri Chinchwad University, Pune.

The company also proposes to re-classify Mr. Somnath Lature, who holds 71,250 equity shares representing 0.29% of the shareholding, from the Promoter Group to the Public category. This re-classification is subject to the approval of shareholders via an Ordinary Resolution and has received a No Objection Letter from BSE Limited. Mr. Lature has confirmed compliance with the conditions specified in Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including not exercising control over the company's affairs and not holding more than 10% of the total voting rights.

Key Details of Resolutions

Mrs. Manisha Shelar is not related to any directors of the company and has not been convicted of any offence related to the promotion, formation, or management of any company or LLP in the last five years. She is a member of the Audit, Stakeholder Relationship, and Nomination and Remuneration Committees. The re-appointment and re-classification were disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Suyog Gurbaxani Funicular Ropeways Limited has secured no-objection from BSE Limited to reclassify Somnath Gurushant Lature from the Promoter Group to the Public category. The approval, effective June 10, 2026, was granted under Regulation 31A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This change alters the shareholding structure of the company, moving Lature out of the promoter group.

The stock exchange granted the no-objection based on the submission made by the listed entity regarding the application dated February 11, 2026. The communication was addressed to the company's Company Secretary and Compliance Officer, Ameya Dhananjay Bodas. The approval specifically pertains to the reclassification request for the individual promoter.

Reclassification Details

The following table outlines the specific change approved by the exchange:

BSE has instructed the company to ensure compliance with all subsequent relevant disclosures of material events related to this reclassification. This must be done in accordance with the applicable provisions of Regulation 31A of SEBI (LODR) Regulations, 2015. The exchange issued the formal no-objection letter, referenced as LIST/COMP/SJ/112/2026-27, to finalize the process.