vishal fabrics has clarified the resignation of Mr. Rajneesh Garg from the position of General Manager (Marketing) Senior Management Personnel (SMP), effective March 24, 2026. The company submitted the initial disclosure to BSE on March 24, 2026, under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Following a discrepancy remark from the exchange regarding additional details required under SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, the company provided a clarification on April 20, 2026.

Mr. Rajneesh Garg tendered his resignation from the position of General Manager (Marketing) Senior Management Personnel of the Company with effect from March 24, 2026, due to personal reasons and other commitments. In his resignation letter addressed to the Managing Director, Mr. Garg expressed gratitude for the trust and opportunities extended during his tenure and committed to assisting with a smooth transition, including documenting ongoing projects and mentoring his successor.

Disclosure Details

The company provided the following disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015:

Regulatory Compliance

As per Part A of Schedule III of SEBI (LODR) Regulations, 2015, listed entities are required to disclose the resignation letter along with detailed reasons within seven days from the date the resignation comes into effect. Vishal Fabrics Limited stated that it received the resignation letter on March 24, 2026, and made the disclosure to BSE on the same day, complying with the regulatory requirement. The company attached the resignation letter as part of its clarification to the exchange.

The registered office of Vishal Fabrics Limited is located at Shanti Corporate House, Nr. Hira Rupa Hall, Bopal-Ambli Rd, Bopal, Ahmedabad - 380058, Gujarat, India. The company can be contacted at +91 6359701763 or +91 6359701796.

Vishal Fabrics Limited has officially communicated to BSE Limited that it does not meet the criteria for Large Corporate classification under SEBI regulations. The company submitted this confirmation on April 09, 2026, addressing the applicability of specific SEBI circulars related to disclosure requirements.

SEBI Large Corporate Framework

The SEBI circulars SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, and SEBI/HO/DDHS/DDHSP0D1/P/CIR/2023/172 dated October 19, 2023, establish specific criteria for Large Corporate classification. Companies must meet all three conditions to fall under this framework.

Borrowing Classification Details

The SEBI framework specifically defines outstanding long-term borrowings as any borrowing with original maturity exceeding one year. However, several categories are excluded from this calculation:

• External commercial borrowings
• Inter-corporate borrowings involving holding, subsidiary, or associate companies
• Government grants, deposits, or funds received under official guidelines
• Borrowings from interest capitalization
• Borrowings for merger, acquisition, and takeover schemes

Credit Rating Requirements

For companies with multiple ratings from different agencies, the highest rating is considered for framework applicability. The credit rating must specifically relate to unsupported bank borrowings or plain vanilla bonds without any structural support or enhancement features.

Company's Confirmation

Vishal Fabrics Limited has confirmed that it does not fall under the Large Corporate category as defined by the SEBI circulars. Consequently, the company is exempt from filing initial disclosure and annual disclosure requirements as specified in Annexures A, B1, and B2 of the mentioned circulars.

The communication was signed by Company Secretary Dilip Nikhare (Membership No. A45570) and Chief Financial Officer Dharmesh Dattani, confirming the company's regulatory compliance status under the specified SEBI framework.