Share India Securities Limited has disclosed a regulatory settlement with the Securities and Exchange Board of India (SEBI) under a specialized settlement scheme for algo platform associations. The disclosure was made on March 19, 2026, pursuant to Regulation 30 of the SEBI Listing Regulations.

Settlement Order Details

SEBI has passed a Settlement Order under the "Settlement Scheme for Association with Certain Algo Platforms, 2025" that applies to 111 stock brokers, including Share India Securities Limited. The order requires each affected broker to pay a uniform settlement amount.

Nature of Alleged Violations

The settlement pertains to the company's alleged association with certain algo platforms. According to the disclosure, certain practices were viewed as violations of applicable SEBI circulars and provisions of the SEBI (Stock Brokers) Regulations, 1992. The company noted that no formal communication has been received from SEBI, and the order was taken on record based on its publication on SEBI's official website.

Financial and Operational Impact

Share India Securities has assessed the impact of the settlement on its business operations and financial position:

Company's Response and Compliance Commitment

The company has emphasized its commitment to maintaining high compliance standards. In its disclosure, Share India Securities stated that it will take necessary steps to address the issues identified in the settlement order. Company Secretary and Compliance Officer Vikas Aggarwal signed the disclosure on behalf of the company.

The settlement scheme represents SEBI's approach to addressing regulatory concerns related to algo platform associations across multiple brokerage firms simultaneously, providing a standardized resolution mechanism for the identified violations.

Share India Securities Limited submitted comprehensive voting results to stock exchanges following the successful completion of NCLT-directed stakeholder meetings held on March 13, 2026, for the proposed scheme of amalgamation with Silverleaf Capital Services Private Limited. The company filed the compliance documents with BSE Limited and National Stock Exchange of India Limited on March 14, 2026, demonstrating overwhelming stakeholder support for the merger.

Meeting Structure and Participation

The company organized four separate stakeholder meetings through video conferencing, each addressing the same amalgamation proposal under NCLT supervision:

Voting Results and Stakeholder Approval

The amalgamation scheme received exceptional support across all stakeholder categories, with comprehensive voting data revealing strong confidence in the proposed merger:

The voting process involved 204 equity shareholders casting 13,82,49,606 valid votes, with only 2,41,917 votes against the proposal, representing a mere 0.18% opposition.

Comprehensive Voting Mechanism

The company implemented a robust voting system combining remote e-voting and live meeting participation:

Creditor and Debenture Holder Support

All creditor categories provided unanimous approval for the amalgamation scheme:

Non-Convertible Debenture Holders: 79 voters representing 7,814 debentures voted unanimously in favor, achieving 100% approval.

Secured Creditors: 8 major financial institutions including ICICI Bank, HDFC Bank, and Axis Bank, representing ₹21,19,95,22,689 in secured debt, provided unanimous support.

Unsecured Creditors: 51 creditors representing ₹15,55,25,236 in unsecured obligations voted unanimously in favor.

Regulatory Compliance and Documentation

The submission included comprehensive documentation as required under Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:

• Detailed voting results across all stakeholder categories
• Consolidated scrutinizer reports from Mr. Mahendra Kumar P Parmar, Advocate
• Complete lists of shareholders voting for and against the proposal
• Compliance certificates confirming requisite majority achievement

Meeting Leadership and Governance

All meetings were presided over by Mr. Atul Lakhanpal, Senior Advocate, appointed as Chairperson by the NCLT. Mr. Mahendra Kumar P Parmar, Advocate, served as the NCLT-appointed Scrutinizer, while Mr. Kartikeya Goel, Legal Counsel, and Mr. Vijay Kumar Rana, Chief Financial Officer, facilitated the proceedings.

The successful completion of these meetings with overwhelming stakeholder approval represents a significant milestone in the amalgamation process, demonstrating strong confidence in the strategic merger between Share India Securities and Silverleaf Capital Services Private Limited.