Praveen Gurnani has submitted a declaration under SEBI (SAST) Regulations 31(4) for the financial year ended 31st March 2026, disclosing his shareholding in Unitech Limited while formally protesting his classification as a Promoter Group member. The declaration reveals ongoing corporate governance issues and legal disputes surrounding shareholding categorization.

Shareholding Details and Current Status

As of 31st March 2026, Gurnani holds 42,75,310 equity shares of face value ₹2 each in Unitech Limited. His shareholding summary presents a clear picture of his current position:

Significantly, these shares have been marked as "Suspended for Debit" in his demat account since 31st December 2018. Gurnani explicitly states that no encumbrances were made during the financial year 2025-26 and argues that his shares should not be counted towards Promoter/Promoter Group/PAC shares.

Persistent Reclassification Requests

Gurnani's efforts to seek reclassification from Promoter Group to Public category span nearly eight years, beginning with his first communication on 16th May 2018. His correspondence with Unitech Limited demonstrates a systematic approach across multiple channels:

• Physical submissions: Direct submissions at Unitech office
• Postal communications: Speed post deliveries to company address
• Digital correspondence: Email communications to company officials
• Regulatory engagement: Direct communications with BSE and NSE

The communications timeline shows eleven separate attempts between May 2018 and April 2025, with increasing frequency in recent years. Despite this persistent engagement, the Board of Directors of Unitech Limited has rejected his reclassification requests on multiple occasions.

Legal Proceedings and Supreme Court Intervention

Following advice from Unitech Limited's Board of Directors to approach the Supreme Court of India, Gurnani has filed relevant applications seeking judicial intervention. The pending applications before the Hon'ble Supreme Court include:

• IA no. 298073/2024: Impleadment application
• IA no. 297931/2024: Direction application

These applications seek directions for reclassification of his name from Promoter Group to Public shareholder in Unitech Limited's shareholding pattern.

Declaration Under Protest

Gurnani's declaration emphasizes his position that he does not consider himself part of the Promoters, Promoter Group, or PAC of Unitech Limited. He categorically states having no role in the company's functioning or decision-making at any point in time. The declaration serves as both a regulatory compliance measure and a formal protest against his current classification.

The matter highlights ongoing complexities in corporate shareholding classifications and the challenges faced by individuals seeking to modify their regulatory status within listed companies. Gurnani continues to request immediate reclassification without further delay, describing his disclosure as "full and frank" in compliance with regulatory requirements.

Unitech Group has announced the resignation of Mrs. Uma Shankar from its Board of Directors, effective March 7, 2026. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, dated April 24, 2026.

Director Resignation Details

Mrs. Uma Shankar (DIN: 07165728) served as a Nominee Director (Non-Executive) on the company's Board. Her resignation was submitted via email on March 7, 2026, and subsequently confirmed by the Ministry of Corporate Affairs through order No. F.N. Legal-10/1/2020-O/o DGCoA-MCA dated March 25, 2026.

Background of Appointment

Mrs. Uma Shankar was appointed as Nominee Director by the Central Government in the Ministry of Corporate Affairs on October 19, 2022, with immediate effect. This appointment was made in compliance with the Hon'ble Supreme Court order dated October 13, 2022. Her appointment was part of the broader restructuring following the Supreme Court's direction in Civil Appeal No. 10856/2016 titled Bhupinder Singh vs. Unitech Limited, where the court had directed the Union Government to appoint independent management for Unitech Limited.

Other Directorships

The resigning director holds positions in other listed entities as an Independent Director:

Regulatory Compliance and Disclosure

Unitech Limited has confirmed that there are no other material reasons for Mrs. Uma Shankar's resignation beyond the personal reasons stated. The company has acknowledged that the filing of this disclosure to the stock exchanges was delayed due to unintentional oversight and has committed to ensuring timely filings under SEBI (LODR) Regulations in the future. The resignation was formally communicated through email on March 7, 2026, and the MCA issued its confirmation order on March 25, 2026.

Supreme Court Oversight Context

The resignation occurs within the framework of the Supreme Court-mandated independent management structure for Unitech Limited. The Hon'ble Supreme Court had originally directed the appointment of eight Nominee Directors by the Central Government, with Mrs. Uma Shankar being added later to this governance structure. The company is required to inform these developments to the Hon'ble Supreme Court by way of affidavit as part of ongoing compliance requirements.