VCU Data Management Limited, a Mumbai-based company specializing in data management solutions, has received a significant update regarding its shareholding structure. The company announced that it has secured a No-objection Certificate (NOC) from the BSE Limited for the reclassification of a key stakeholder.

Reclassification Details

The reclassification involves moving Mr. Shripal Bafna from the Promoter Group category to the Public category. This change is subject to shareholder approval, which will be sought in an upcoming members' meeting. Once approved, Mr. Bafna will no longer be considered part of the Promoter and Promoter Group.

Regulatory Compliance

This move aligns with Regulation 31A of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The company's adherence to these regulations demonstrates its commitment to transparency and proper corporate governance.

Next Steps

The reclassification process involves several key steps:

1. Receipt of NOC from BSE Limited (Completed)
2. Seeking shareholder approval in a members' meeting (Pending)
3. Final reclassification of Mr. Shripal Bafna as part of the public category (Pending approval)

Company Overview

VCU Data Management Limited, with its registered office in Malad, Mumbai, operates under the CIN: L74999MH2013PLC240938. The company has been exploring diversification into areas such as data analytics, AI-driven solutions, and cloud platforms to enhance its market position and deliver long-term value to its shareholders.

Financial Snapshot

As per the recent Annual General Meeting, the company reported the following financial highlights:

Despite facing challenges due to limited market opportunities, the company maintains a strong balance sheet with low borrowings, positioning itself for potential growth in the evolving data management landscape.

This corporate action represents a significant change in VCU Data Management's ownership structure and may have implications for the company's future strategic decisions and market perception.

VCU Data Management Limited, a company listed on the Bombay Stock Exchange (BSE), has taken significant steps in restructuring its corporate structure. The company announced that it has received a no-objection certificate from BSE Limited for the reclassification of Mr. Sanjay Vardhan from the Promoter Group to the Public Category.

Key Details of the Reclassification

• Approval Status: BSE has granted no-objection based on VCU's application.
• Regulatory Framework: The reclassification falls under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• Next Steps: The reclassification is subject to shareholder approval in a member meeting.

New Reclassification Request

In a related development, Shripal Kantilal Bafna, holding 15,34,000 equity shares in VCU Data Management Limited, has applied to the company's Board of Directors for reclassification from promoter category to public shareholder category. Bafna states he has no direct or indirect control over the company's affairs or decision-making processes.

Details of Bafna's Application

In his application, Bafna confirms that:

• He and persons acting in concert hold less than ten percent of total voting rights
• He exercises no control over company affairs
• He has no special rights through shareholder agreements
• He is not represented on the Board of Directors
• He does not act as a Key Managerial Person
• He is not a willful defaulter
• He is not a fugitive economic offender

The request seeks approval under Regulation 31A of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, with undertakings to comply with specified conditions for at least three years post-reclassification.

Implications of the Reclassifications

Once approved by shareholders, Mr. Sanjay Vardhan will no longer be part of the Promoter and Promoter Group of VCU Data Management Limited. Similarly, if Shripal Kantilal Bafna's request is approved, it will further alter the company's promoter structure. These moves could potentially impact the company's shareholding structure and governance dynamics.

Compliance Requirements

VCU Data Management Limited is required to ensure compliance with subsequent relevant disclosures related to these reclassifications. The company must adhere to the applicable provisions of Regulation 31A of SEBI (LODR) Regulations, 2015, which govern such reclassifications.

Company Background

VCU Data Management Limited, with its registered office in Mumbai, operates under the CIN: L74999MH2013PLC240938. The company's shares are traded on the BSE under the scrip code 536672.