Pasupati Acrylons Limited has completed another significant share transfer under its NCLT-approved merger scheme, with MVA Finance Private Limited transferring 1,44,450 equity shares to Arihant Exports Private Limited. The company has filed the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, confirming the completion of this inter-se transfer between promoter group entities.

NCLT-Approved Merger Implementation

The National Company Law Tribunal had sanctioned a scheme of amalgamation with an order dated September 23, 2025, consolidating several promoter group companies into Arihant Exports Private Limited. Under this approved scheme, MVA Finance Private Limited executed the transfer of 1,44,450 equity shares representing 0.16% stake through an off-market transaction without any monetary consideration.

Promoter Group Structure Changes

Following the amalgamation, MVA Finance Private Limited has ceased to be part of the promoter group of Pasupati Acrylon Limited. The company has confirmed that the aggregate shareholding of promoter and promoter group remains unchanged pre and post the transfer, maintaining the overall promoter stake structure despite the internal reorganization.

Regulatory Compliance and Corporate Restructuring

The disclosure has been filed by Company Secretary Bharat Kapoor, confirming full compliance with SEBI regulations. This represents part of the ongoing corporate restructuring that continues to streamline the promoter group's shareholding structure while ensuring transparency with stakeholders. The off-market transfer between promoter group companies maintains the consolidated ownership pattern under the NCLT-approved merger framework.

Pasupati Acrylon Limited , a key player in the chemical industry, has announced significant changes to its board of directors and committee structure. The company has appointed two new Non-Executive Independent Directors, Mr. Sudhir Agarwal and Mr. Sanjiv Nair, for a five-year term starting September 1, 2025. This move, approved by shareholders at the company's 42nd Annual General Meeting on September 18, 2025, aims to bring fresh perspectives and diverse expertise to the board.

New Appointments

Mr. Sudhir Agarwal

• Holds a B.Tech in Chemical Engineering from Harcourt Butler Technical University, Kanpur
• Brings over 39 years of experience in the chemical and process industries
• Expertise includes:
  • Plant operations
  • Project management
  • Energy and environment conservation
  • Waste management
  • Sustainability
  • Green energy concepts

Mr. Sanjiv Nair

• Retired Indian Administrative Services officer
• Previously served as:
  • Additional Chief Secretary of Uttar Pradesh
  • First Director General of the North East Centre for Technology Application and Reach
• Represented India at the World Meteorological Organization in Moscow for two years

Terms of Appointment

• Both Mr. Agarwal and Mr. Nair appointed for five consecutive years
• Term: September 1, 2025, to August 31, 2030
• Neither director is related to existing directors or key managerial personnel of Pasupati Acrylon Limited

Board Transitions

• Two outgoing independent directors completed their terms:
  • Mr. S.C. Malik (DIN: 00107170)
  • Mr. D.K. Kapila (DIN: 00060060)
• Both concluded their second term as Independent Directors at the 42nd Annual General Meeting
• Ceased to be directors and board committee members effective September 18, 2025

Committee Reconstitution

Effective September 18, 2025, Pasupati Acrylon Limited has reconstituted five Board committees:

Compliance and Governance

• Pasupati Acrylon Limited confirmed that Mr. Agarwal and Mr. Nair are not debarred from holding directorship positions by any SEBI order or other authority
• Complies with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Ms. Mehak Gupta of M/s. Mehak Gupta & Associates appointed as Secretarial Auditor for five years (FY 2025-26 to 2029-30)

These board changes, appointments, and committee reconstitutions reflect Pasupati Acrylon's commitment to maintaining strong corporate governance and bringing diverse expertise to its leadership team. The new directors and committee structure are expected to contribute significantly to the company's strategic direction and growth initiatives in the chemical sector.