MPS Limited Confirms Annual Compliance with SEBI Takeover Regulation Exemptions for FY26
MPS Limited has filed annual compliance confirmations for FY26 regarding SEBI exemption orders for Nishith Arora Family Trust and NAFT-2. Both trusts maintained complete compliance with their respective exemption orders from Regulations 3 and 4 of SEBI Takeover Regulations 2011. Independent auditor Jain Kapil & Associates certified the compliance status for the reporting period ending 31 March 2026.

*this image is generated using AI for illustrative purposes only.
MPS Limited has submitted annual compliance confirmations to BSE Limited and National Stock Exchange of India Limited on 17 April 2026, affirming adherence to SEBI exemption orders for the financial year ended 31 March 2026. The confirmations relate to two family trusts that hold exemptions under the SEBI Substantial Acquisition of Shares & Takeovers Regulations, 2011.
SEBI Exemption Orders and Compliance Status
Two separate family trusts have maintained compliance with their respective SEBI exemption orders throughout FY26:
| Trust Details: | NAFT | NAFT-2 |
|---|---|---|
| Full Name: | Nishith Arora Family Trust | Nishith Arora Family Trust-2 |
| SEBI Order Reference: | WTM/GM/CFD/70/2019-20 | WTM/AB/CFD/05/2025-26 |
| Order Date: | 14 February 2020 | 30 May 2025 |
| Exemption From: | Regulations 3 and 4 | Regulations 3 and 4 |
| Compliance Period: | 14 February 2020 to 31 March 2026 | 30 May 2025 to 31 March 2026 |
Both trusts received exemptions from complying with Regulations 3 and 4 of the Takeover Regulations regarding their proposed acquisition and exercise of voting rights in MPS Limited. The exemptions were granted under Regulation 11(5) of the SEBI Takeover Regulations 2011.
Independent Auditor Certification
As required by the SEBI exemption order conditions, independent auditor certification has been obtained for both trusts. Jain Kapil & Associates, Chartered Accountants (Firm Registration Number: 037228C), issued certificates dated 15 April 2026 confirming complete compliance with the respective SEBI exemption orders.
| Certification Details: | Information |
|---|---|
| Auditor: | Jain Kapil & Associates |
| Firm Registration: | 037228C |
| Certificate Date: | 15 April 2026 |
| Certification Period: | Full compliance from order dates through 31 March 2026 |
Regulatory Framework and Documentation
The compliance confirmations were submitted under the powers conferred upon SEBI under Section 19 of the Securities and Exchange Board of India Act, 1992, read with Regulation 11(5) of the Takeover Regulations. The original SEBI exemption orders have been enclosed as supporting documentation.
For NAFT, the relevant condition is specified in Para 5(x) of the exemption order, while for NAFT-2, the requirement falls under Para 4(g)(x). Both conditions mandate annual compliance certification from independent auditors.
Trustee and Reporting Structure
Nishith Arora serves as the trustee for both family trusts and has digitally signed the compliance confirmations. The reports have been filed with:
- BSE Limited and National Stock Exchange of India Limited
- Securities & Exchange Board of India
- MPS Limited
The annual compliance confirmation represents a mandatory regulatory requirement to maintain the exemption status granted by SEBI for the family trusts' holdings in MPS Limited. This ensures continued adherence to the specific conditions outlined in the original exemption orders while maintaining transparency with market regulators and stakeholders.
Historical Stock Returns for MPS
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.79% | -3.33% | +15.02% | -25.36% | -27.01% | +176.97% |
Will MPS Limited need to seek renewal or extension of these SEBI exemptions beyond March 2026?
How might changes in SEBI's takeover regulations impact the family trusts' future compliance requirements?
What strategic decisions could the Nishith Arora Family Trusts make regarding their MPS Limited holdings now that compliance is confirmed?


































