Symphony Limited's promoter group has submitted a regulatory declaration to stock exchanges confirming that no encumbrance has been created on company shares during the financial year ending March 31, 2026. The declaration was filed by promoter Achal Anil Bakeri on April 03, 2026, addressing both the National Stock Exchange of India Limited and BSE Limited.

Regulatory Compliance Declaration

The filing fulfills the mandatory disclosure requirement under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation requires promoters and promoter groups to declare any encumbrances created on their shareholdings during each financial year.

Promoter Group Composition

The declaration covers a comprehensive list of 12 entities and individuals within the promoter group structure:

Significance of No Encumbrance Declaration

The declaration confirms that none of the promoter group entities have pledged, mortgaged, or created any security interest on their Symphony Limited shares during FY26. This status indicates that the promoter group's shareholding remains unencumbered, which is generally viewed favorably by investors as it suggests financial stability and confidence in the company's prospects.

Filing Details

The declaration was digitally signed by Achal Anil Bakeri on April 03, 2026, and submitted to both major stock exchanges where Symphony Limited shares are listed. The document was also copied to the company's Audit Committee as part of corporate governance protocols. This timely filing demonstrates the promoter group's commitment to regulatory compliance and transparency in shareholding disclosures.

Symphony Limited has received a favorable order from the Additional Commissioner Grade-2 (Appeals), Judicial Division-III, State Tax, Lucknow, U.P., significantly reducing the GST demand for financial year 2017-18. The order dated April 22, 2026, was received by the company on April 23, 2026, and has been disclosed to the stock exchanges under Regulation 30 of the SEBI (LODR) Regulations, 2015. The disclosure was submitted by Mayur Chimanbhai Barvadiya, Company Secretary and Head – Legal.

Order Details

The GST Department, Lucknow, Uttar Pradesh, has substantially reduced the overall demand towards GST, penalty and interest. The revised demand now stands at Rs.28,162 against the original demand of Rs.2,64,93,374. This represents a significant reduction in the tax liability for the company.

Key Changes in Demand

The department has entirely dropped the interest liabilities of Rs.2,64,65,208 that were raised in its previous order dated February 22, 2024. This favorable outcome follows the company's earlier communication dated February 28, 2024, regarding the matter.

Impact Assessment

According to the disclosure, there is no material impact of this order on the financials, operations or other activities of Symphony Limited. The company has confirmed that the revised demand does not have any significant effect on its business operations or financial position.