Choice International promoter Patodia Properties Private Limited has submitted a revised disclosure under SEBI takeover regulations following clarification requests from stock exchanges. The disclosure addresses share encumbrance activities and provides detailed information about pledge transactions executed in December 2025.

Regulatory Compliance and Disclosure Background

The revised submission was made under Regulation 31(1) and (2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Patodia Properties received communication from stock exchanges seeking clarification regarding post-encumbered shares, prompting the company to resubmit comprehensive disclosure documentation.

The disclosure was signed by Suyash Sunil Patodia, Director with DIN 09489670, and submitted to both BSE Limited and NSE Limited on January 29, 2026, with a reporting date of January 1, 2026.

Share Encumbrance Transactions

Patodia Properties executed significant share encumbrance activities on December 30, 2025, involving its holding in Choice International Limited. The company holds 84,70,000 shares, representing 3.80% of Choice International's total share capital.

Financial Details and Security Cover

The pledge creation with Aditya Birla Capital Limited involves substantial financial commitments and security arrangements. The transaction demonstrates significant asset backing for the credit facility arrangement.

Promoter Group Holdings Overview

The comprehensive disclosure reveals the complete promoter group structure and their respective holdings in Choice International Limited. The total promoter group holding stands at 12,78,02,292 shares, representing 57.36% of the company's total share capital.

Key promoter group members include various Patodia family entities and individuals, with Vinita Sunil Patodia holding the largest individual stake at 2,48,04,000 shares (11.13%), followed by Arunkumar Poddar with 1,62,00,000 shares (7.27%). The disclosure also includes details of Persons Acting in Concert (PACs) and their respective shareholdings.

Transaction Purpose and Utilization

The encumbrance serves as collateral for Patodia Properties' own credit facility requirements rather than for Choice International's benefit. The borrowed amount will be utilized for the promoter's personal use, with the pledge providing security cover significantly exceeding the loan amount at a ratio of 2.66 times the borrowed sum.

Choice International Limited has notified stock exchanges regarding a structural change in its statutory auditor firm's constitution. The company submitted this intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on January 16, 2026.

Auditor Firm Structural Change

The company's statutory auditor, M S K A & Associates, Chartered Accountants, has converted its business structure from a partnership firm to a Limited Liability Partnership (LLP). This conversion was executed under the provisions of the Limited Liability Partnership Act, 2008.

Continuity of Services

The newly structured firm will maintain continuity in its role as the company's statutory auditor. M S K A & Associates LLP will continue to function and discharge all obligations as the statutory auditor for the remaining period of their current tenure. This structural change does not affect the auditor's responsibilities or the duration of their appointment.

Regulatory Compliance

Choice International Limited submitted this notification to both major stock exchanges where its shares are listed. The communication was addressed to the Department of Corporate Services at BSE Limited and NSE Limited, ensuring compliance with disclosure requirements under SEBI Listing Regulations.

The notification was signed by Karishma Shah, Company Secretary & Compliance Officer, confirming the company's adherence to regulatory disclosure norms. This structural change represents a routine business transformation that allows the auditor firm to operate under LLP framework while maintaining professional continuity.