Evans Electric Ltd. , a company specializing in heavy electro-mechanical repairs, has reported a significant change in its shareholding structure. The company disclosed that 761,972 equity shares were transferred between promoters through an off-market gift transaction on September 19, 2025.

Details of the Share Transfer

The transfer involved two key members of the company's promoter group:

• Seller: Mr. Ivor Anthony Desouza
• Acquirer: Ms. Jeanne Marie Desouza

This inter-se transfer of shares was executed as a gift, reflecting a transfer between immediate relatives within the promoter group.

Impact on Shareholding

The transaction has resulted in a substantial shift in the individual holdings of the involved parties:

It's important to note that despite this significant transfer, the aggregate holding of the Promoter and Promoter Group remains unchanged.

Regulatory Compliance

Evans Electric Ltd. has ensured compliance with various regulatory requirements:

1. The company submitted the required disclosures to BSE Limited on September 22, 2025.
2. The transaction falls under the exemption provided in Regulation 10(1)(a)(i) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.
3. Prior intimation of the proposed transfer was made on September 12, 2025, as per Regulation 10(5) of SEBI regulations.
4. Disclosures were also made under SEBI's insider trading provisions.

Company Background

Evans Electric Ltd. is listed on the BSE with the scrip code 542668 and ISIN INE06TD01010. The company's registered office is located in Santa Cruz (West), Mumbai, with its manufacturing facility in Palghar, Maharashtra.

This share transfer represents a significant change in the individual holdings within the promoter group but does not affect the overall promoter stake in the company. Investors and market participants may want to take note of this change in the company's shareholding pattern.

Evans Electric Limited (BSE: 542668) has responded to the Bombay Stock Exchange's (BSE) inquiry regarding the delayed disclosure of its Chief Financial Officer's retirement, providing insights into the timeline and reasons for the delay.

Retirement Disclosure Timeline

According to the company's response to BSE:

• September 11, 2025: The HR department issued the retirement letter to the Chief Financial Officer.
• September 15, 2025: The HR department communicated the retirement information to the secretarial team.
• September 16, 2025: Evans Electric filed the disclosure with stock exchanges.
• September 17, 2025: BSE sent an email to the company seeking reasons for the delay in disclosure.
• September 19, 2025: Evans Electric submitted its official response to BSE.

Reasons for Delayed Disclosure

Evans Electric attributed the delay to an interpretational difference regarding the disclosure requirements under SEBI LODR Regulations. The company explained that:

1. The HR department was under the impression that the disclosure requirement was within seven days from the date the retirement comes into effect, as per their understanding of Regulation 30 read with Para A of Schedule III, sub-clause 7C of SEBI LODR Regulations, 2015.

2. The retirement intimation reached the Secretarial Department on September 15, 2025, and the disclosure was filed with the Stock Exchanges on September 16, 2025, within 24 hours of receipt by the Secretarial Department.

3. The company emphasized that the delay was inadvertent and caused by an interpretational difference, with no malicious intent or prejudice to stakeholders.

Company's Assurance and Request for Leniency

In its response to BSE, Evans Electric:

• Assured that future disclosures will be made within prescribed timelines.
• Requested the Exchange to take a lenient view, considering that the event pertains to retirement due to age factor and not resignation due to any adverse reason.
• Committed to ensuring timely disclosures and stated that it has sensitized the concerned internal departments to avoid any recurrence.

Management's Statement

Ivor Anthony Desouza, Director of Evans Electric Limited, signed the response to BSE, stating, "The Company remains committed to ensuring timely disclosures and has sensitized the concerned internal departments to avoid any recurrence."

Evans Electric Limited, headquartered in Mumbai, specializes in heavy electro-mechanical repairs. The company's response demonstrates its commitment to addressing regulatory concerns and improving its disclosure practices in line with SEBI regulations.