Carborundum Universal Limited has completed the voluntary liquidation of its step-down foreign subsidiary CUMI Europe s.r.o., located in Czech Republic. The company announced that the subsidiary has been formally deregistered under Czech Republic laws, with its name deleted from the Commercial Register effective December 31, 2025.

Subsidiary Background and Operations

CUMI Europe s.r.o. was originally established as a step-down wholly owned subsidiary for marketing purposes in Prague. However, the subsidiary ceased its operational activities in 2018, making this liquidation a formal closure of dormant operations. The company had been set up specifically to handle marketing activities in the European market.

Regulatory Compliance and Disclosure

The liquidation has been disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided comprehensive details as required under the listing regulations and SEBI Master Circular dated November 11, 2024.

Transaction Details

The liquidation process did not involve any sale agreement, consideration, or buyers, as it was a voluntary deregistration of the dormant entity. The company confirmed that this transaction does not fall within related party transactions and is not part of any scheme of arrangement under Regulation 37A of LODR Regulations.

Corporate Restructuring Impact

This liquidation represents a streamlining of Carborundum Universal's international subsidiary structure, formally closing a non-operational entity that had remained dormant for several years. The action aligns with corporate governance practices of maintaining only active subsidiaries in the group structure.

Carborundum Universal Limited (CUL) has received approvals from both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) for the reclassification of two entities from its promoter group category. This development marks a change in the company's ownership structure and regulatory compliance landscape.

Key Details of the Reclassification

The two entities being reclassified are:

1. Coromandel Engineering Company Limited (CECL)
2. Yanmar Coromandel Agrisolutions Private Limited (YCAS)

These companies, previously part of Carborundum Universal's promoter group, will no longer hold this status following the reclassification.

Approval Process and Timeline

The reclassification process has progressed through several stages:

• October 8: Initial intimation by Carborundum Universal
• October 13: Application submitted to stock exchanges
• November 14: Approval granted by both BSE and NSE

Regulatory Implications

This reclassification is governed by Regulation 31A of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The move affects Carborundum Universal's regulatory compliance requirements and potentially its ownership structure.

Stock Exchange Approvals

Both major stock exchanges have provided their no-objection to the reclassification:

Company's Response

Rekha Surendhiran, Company Secretary of Carborundum Universal Limited, has officially communicated this development to the stock exchanges, ensuring compliance with regulatory disclosure requirements.

Market Implications

This reclassification could potentially impact investor perceptions and the company's regulatory reporting structure. Shareholders and market analysts may monitor how this change affects the company's governance and ownership dynamics.

Carborundum Universal is expected to make subsequent disclosures related to this reclassification as required by SEBI regulations. Investors and stakeholders are advised to keep an eye on further announcements from the company for any material impacts resulting from this change in promoter group composition.