Transrail Lighting Limited has filed its quarterly compliance certificate with stock exchanges for the quarter ended March 31, 2026. The submission was made on April 8, 2026, to both BSE Limited and National Stock Exchange of India Limited.

Regulatory Compliance Certificate

The certificate was submitted pursuant to Regulation 74(5) of the Securities and Exchange Board of India (SEBI) (Depositories and Participants) Regulations, 2018. Monica Gandhi, Company Secretary and Compliance Officer, signed the submission digitally on April 8, 2026.

Share Transfer Agent Confirmation

MUFG Intime India Private Limited (formerly Link Intime India Private Limited), serving as the company's Registrar and Share Transfer Agent, issued the confirmation certificate. Deepak Tambe, Assistant Vice President at MUFG Intime, signed the certificate confirming compliance status.

The certificate states that since the company's shares are entirely in dematerialized mode, no requests were received from Depository Participants for dematerialization, mutilation, or cancellation of securities during the quarter ended March 31, 2026.

Stock Exchange Details

The filing was submitted to both major Indian stock exchanges where Transrail Lighting's shares are listed:

Corporate Information

Transrail Lighting Limited operates from its corporate and registered office located at 501 A, B, C, E, Fortune 2000, Block-G, Bandra Kurla Complex, Bandra East, Mumbai. The company maintains its web presence at www.transrail.in and holds CIN L31506MH2008PLC179012.

This quarterly submission demonstrates the company's adherence to SEBI regulations regarding depositories and participants, ensuring transparency in share transfer and dematerialization processes for stakeholders.

Transrail Lighting Limited has received warning letters from both BSE and NSE for inaccurate disclosure regarding the cessation of a senior management personnel. The regulatory action highlights the importance of precise compliance with SEBI disclosure requirements, even in sensitive employment matters.

Regulatory Warning Details

Both exchanges issued warning letters on April 1, 2026, concerning a disclosure made by the company on May 16, 2025. The issue centered on the cessation of Major Sukriti Shukla Retd., who served as Chief Human Resource Officer and Senior Management Personnel.

Disclosure Discrepancy

The exchanges found that while the actual cessation was due to termination, the company's disclosure stated that "Major Sukriti Shukla Retd. is no longer serving as Chief Human Resource Officer and Senior Management Personnel of the Company" instead of explicitly citing "Termination/Removal" as the reason.

The regulatory bodies identified violations of multiple SEBI LODR provisions:

• Regulation 30 read with Sub-para 7 of Para A of Part A of Schedule III for inaccurate reason for change
• Regulation 4(1) regarding principles for listed entities, specifically requirements to refrain from misrepresentation and ensure adequate, accurate, and timely information

Company's Explanation

Transrail Lighting provided context for its disclosure approach, explaining that it was "mindful of avoiding any public statement that would have cast aspersions on the standing of Major Shukla." The company stated it avoided explicit termination language to prevent negative impact on her professional reputation and future employment prospects.

The company emphasized its intention to protect the individual from "untenable stigma" that could deprive her of livelihood opportunities.

Regulatory Response and Compliance Commitment

Both exchanges viewed the non-compliance seriously and advised the company to exercise due diligence to avoid future lapses. The warning letters require dissemination on stock exchanges where the company is listed.

Transrail Lighting has committed to ensuring accurate disclosure of exact reasons in future submissions to comply with applicable SEBI regulations. The company acknowledged the regulatory requirements while balancing its consideration for individual privacy and professional reputation concerns.