Banaras beads Limited has been recognized with a prestigious state-level export award, reinforcing its position as a leading manufacturer and exporter in the glass and ceramic products sector. The company received the State Exports Award Uttar Pradesh 2024-2025 for its outstanding export performance.

Award Recognition Details

The MSME/Exports Promotion Council Uttar Pradesh presented the second prize in the Glass and Ceramic category to Banaras Beads Limited. The award ceremony took place on March 10, 2026, where the recognition was formally presented by Shri Alok Kumar, Principal Secretary, MSME & Export Promotion, Government of Uttar Pradesh.

Company Profile and Operations

Banaras Beads Limited operates as an export house recognized by the Government of India and holds ISO certification. The company specializes in manufacturing and exporting various products including beads, fashion jewelry, and accessories. Established in 1940, the company has built a strong reputation in the international markets over more than eight decades of operations.

The company's registered and head office is located at A-1, Industrial Estate, Varanasi - 221106, positioning it strategically in one of India's historic trading centers. As a publicly listed entity with CIN L01131UP1980PLC004984, Banaras Beads Limited maintains transparency and regulatory compliance in its operations.

Export Excellence Recognition

The State Exports Award Uttar Pradesh recognizes companies that demonstrate exceptional performance in international trade and contribute significantly to the state's export economy. By securing the second prize in the Glass and Ceramic category, Banaras Beads Limited has demonstrated its competitive strength in manufacturing quality products that meet international standards.

The award reflects the company's commitment to excellence in export operations and its ability to compete effectively in global markets. This recognition from the Uttar Pradesh government acknowledges the company's contribution to the state's export growth and its role in promoting Indian products internationally.

Leadership and Management

Shri Ashok Kumar Gupta, Chairman & Managing Director, received the award on behalf of the company, representing the leadership team's dedication to achieving export excellence. The company's management structure includes experienced professionals who guide its operations and strategic direction in both domestic and international markets.

The formal notification to stock exchanges was made by R.K. Singh, Company Secretary (FCS-4071), ensuring proper regulatory compliance and transparency with stakeholders regarding this significant corporate achievement.

Banaras beads Limited has forfeited 38,700 partly paid-up equity shares belonging to 387 shareholders who failed to meet payment obligations despite multiple reminders. The forfeiture was approved by the Board of Directors in their meeting held on January 29, 2026.

Share Forfeiture Details

The company had issued a Second Final Reminder cum Forfeiture Notice dated December 1, 2025, giving shareholders until December 25, 2025, to pay their outstanding allotment and call money including premium amounts. Despite this final notice, 387 shareholders failed to make the required payments.

Notice Process and Timeline

The forfeiture process followed a structured timeline with multiple notices issued to shareholders:

• First Final Reminder cum Forfeiture Notice: July 10, 2025
• Second Final Reminder cum Forfeiture Notice: December 1, 2025
• Payment Deadline: December 25, 2025
• Board Forfeiture Decision: January 29, 2026
• Forfeiture Notice to Shareholders: February 2, 2026

The company has now sent formal forfeiture notices by registered post to all affected shareholders, informing them that their shares have been forfeited along with any amounts already paid.

Legal and Regulatory Compliance

The forfeiture was conducted in accordance with The Companies Act, 2013, and the company's Articles of Association. Banaras Beads Limited has informed both BSE Limited and National Stock Exchange of India about the forfeiture under Regulation 30 of SEBI LODR Regulations.

The company has cancelled all forfeited shares and warned that it will not be responsible for any transactions involving these shares. According to the forfeiture terms, all interest, claims, and demands against the company in respect of the forfeited shares have been extinguished.

Company Background

Banaras Beads Limited is an export house recognized by the Government of India and an ISO certified company. Established in 1940, the company manufactures and exports various types of beads, fashion jewelry, and accessories. The company is headquartered in Varanasi and has been listed on Indian stock exchanges.