Unison Metals Limited has scheduled a board meeting for May 30, 2026, to consider and approve the annual audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The meeting will be held at the company's registered office in Ahmedabad at 02:00 P.M. (IST). The approval of these results is a key regulatory requirement for the company, impacting its disclosure obligations to the stock exchanges.

The board will also deliberate on the appointment of an internal auditor for the financial year 2026-2027. Additionally, the directors will consider the appointment of a cost auditor to conduct the cost audit for the upcoming financial year. These appointments are crucial for maintaining the company's internal control mechanisms and compliance with statutory audit requirements.

In accordance with the company's code of conduct for the prevention of insider trading, the trading window for directors, designated persons, and their immediate relatives has been closed since April 1, 2026. This window will remain shut until 48 hours after the financial results are made public. The company has already disclosed the closure of the trading window to the stock exchanges.

The agenda for the meeting includes the consideration of the auditor's report on the financial results by the statutory auditor, as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board may also transact any other business with the permission of the chairman.

Key Agenda Items

The Securities Appellate Tribunal (SAT) has granted interim relief to Mr. Tirth Uttamchand Mehta and Mr. Uttamchand Chandanmal Mehta, staying a SEBI order that had debarred them from the securities market. The order, passed by the Whole Time Member (WTM) of SEBI on February 05, 2026, had imposed a penalty of ₹10 Lakhs each and a one-year market debarment. The SAT's interim order dated April 28, 2026, allows the appeal and stays the operation of the SEBI order pending the final hearing, subject to the appellants depositing 50% of the penalty within two weeks.

The case stems from allegations that the appellants were involved in a scheme to manipulate the trading volume and price of shares of unison metals . SEBI had alleged that the manipulation was carried out through the dissemination of stock recommendations on Telegram channels. The appellants, specifically the Managing Director and a promoter of the company, were accused of aiding and abetting this scheme by sharing BENPOS data with an operator, which was purportedly used to calculate commissions.

Key Allegations and Defense

The core allegation against the appellants was the sharing of BENPOS, a statement of beneficial ownership, with Shailesh S Patel. SEBI contended that this data enabled operators to ascertain commissions based on the number of shares offloaded during a 'pump and dump' phase. The regulator argued that the appellants had multiple connections with the sellers and the operators, pointing to phone call records and email trails as evidence of coordination.

However, the defense argued that BENPOS is not a secret document and can be obtained by 'any person' under Section 94 of the Companies Act, 2013. They emphasized that the appellants had not traded in any shares or gained any financial benefit from the alleged fraud. It was further submitted that the debarment of the Managing Director would adversely affect the company's ability to make public offers and raise capital, as stipulated by the ICDR Regulations.

Tribunal's Observations

The Tribunal noted that the solitary allegation against the appellants was the sharing of BENPOS. It observed that since this information is accessible to the public, debarring the individuals from the market solely on this ground would be harsh. The Tribunal also considered the potential adverse impact on the company's operations and its investors, citing a communication from a lending partner indicating that credit limits were being withdrawn due to the regulatory action.

Order Details

Unison Metals Limited stated in its regulatory filing that there is no impact contemplated on the financial, operational, or other activities of the company as a result of these proceedings. The company informed the BSE Limited of the SAT's interim order on May 16, 2026.