Turner Industries Limited (formerly Laser Diamonds Limited) approved a loan facility of ₹1.45 crore from Chemfit PVC Solutions Private Limited during its board meeting held on October 16, 2026. The company also sanctioned the appointment of three new directors and authorized the relocation of its registered office within Tamil Nadu.

The board executed a loan agreement with Chemfit PVC Solutions Private Limited, designating the lender to provide funds aggregating to ₹1,45,00,000 (Rupees One Crore Forty-Five Lakh only). This transaction is subject to the terms stipulated in the agreement and compliance with applicable laws.

Director appointments and committee changes

The board appointed three individuals as Additional Directors with effect from October 16, 2026. These appointments were made based on the recommendations of the Nomination and Remuneration Committee.

Following these appointments, the board reconstituted several key committees. The Audit Committee is now chaired by Executive Director Lalit Samdaria, with Sachin Mishra and Chandresh Dutt Upadhyay serving as members. The Nomination and Remuneration Committee is chaired by Chandresh Dutt Upadhyay, while the Stakeholders Relationship Committee is also chaired by Chandresh Dutt Upadhyay.

Office relocation details

The board approved shifting the registered office from Purasawalkam High Road, Kilpauk, Chennai to Mogappair East, Chennai, effective October 17, 2026. Additionally, a new corporate office was established in Dwarka, New Delhi, effective October 17, 2026.

Governance structure update

The reconstitution of committees ensures compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The new composition includes:

• Audit Committee: Lalit Samdaria (Chairperson), Sachin Mishra, Chandresh Dutt Upadhyay.
• Nomination and Remuneration Committee: Chandresh Dutt Upadhyay (Chairperson), Sachin Mishra, Mudrika Devi.
• Stakeholders Relationship Committee: Chandresh Dutt Upadhyay (Chairperson), Sachin Mishra, Lalit Samdaria.

Supreet Kaur, along with person acting in concert Sachin Batra, has acquired a 9.64% stake in Turner Industries Limited (earlier known as Laser Diamonds Limited). The acquisition involved 390,500 equity shares purchased through an off-market transfer on October 13, 2026.

The disclosure was filed under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Prior to this transaction, the acquirer held no shares or voting rights in the company. The shares are listed on BSE Limited.

Transaction details

The acquisition was executed as an off-market transfer of equity shares carrying voting rights. The total share capital of the company remained unchanged at 4,05,00,000 shares before and after the transaction.

Regulatory filing specifics

The filing confirms that the acquirer does not belong to the promoter or promoter group. The securities acquired are standard equity shares with no conversion ratios or redemption timelines specified, as they are not convertible instruments. The intimation of allotment was received on October 13, 2026, with the disclosure signed on October 14, 2026, in Delhi.

What the numbers show

The data indicates a complete transition from zero holding to a substantial non-promoter stake. Since the pre-acquisition holding was recorded as "NA" (Not Applicable/Nil), the entire 9.64% position was established through this single off-market transaction. The total diluted share capital remains identical to the voting capital at 4,05,00,000, implying no outstanding convertible securities or warrants that would dilute the stake percentage further.