Star Source Multi Trade Limited (formerly Chemo Pharma Laboratories Ltd) has received regulatory approval from BSE Limited for the reclassification of promoters from the promoter group category to public shareholders. The company announced on December 12, 2025, that it has received no-objection letters from BSE for the reclassification under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

BSE Approval Details

The BSE granted its no-objection through letter number LIST/COMP/SJ/610/2025-26 dated December 12, 2025, for the reclassification request originally submitted on September 10, 2025. This approval follows the company's previous announcements dated August 11, 2025, and December 03, 2025, regarding the receipt of request letters from outgoing promoter group shareholders.

Promoters Being Reclassified

The reclassification involves two entities moving from promoter group to public shareholder category:

Additional Regulatory Disclosure

On December 26, 2025, the company filed additional details for its earlier corporate announcement dated April 16, 2025, regarding key management resignations. The company acknowledged that it had inadvertently not mentioned required details under SEBI Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, in its original announcement.

April 2025 Resignations Details

The additional disclosure covers three key resignations that occurred on April 16, 2025:

Previous Corporate Changes

The company has undergone significant transformation following its Annual General Meeting held on September 24, 2025. Key changes included:

Leadership Appointments

• Ruchit Mehta appointed as Managing Director & CEO with 4.50 years of consultancy and management experience
• Utsav Trivedi designated as Executive Director & CFO with 2.00 years in accounting and financial management
• Three Independent Directors joined: Sarvagya Goel (Company Secretary since 2016), Shilpy Chopra (Company Secretary with B.Com), and Simran Tripathi (Graduate and Inter Chartered Accountant)

Auditor Changes

• M/s. Arvind Sudra & Associates appointed as Secretarial Auditors for 2025-2030
• M/s. SSRV & Associates (Chartered Accountants) designated as Statutory Auditors for the same period

Name Change Completion

Shareholders had previously approved changing the company name from "Chemo Pharma Laboratories Limited" to "STARSOURCE MULTITRADE LIMITED", along with alterations to the Object Clause of the Memorandum of Association. All AGM resolutions were passed with 99.997% votes in favor.

Regulatory Compliance

The company is required to ensure compliance with subsequent relevant disclosures of material events related to this reclassification in accordance with applicable provisions of Regulation 31A of SEBI (LODR) Regulations, 2015. The latest filing demonstrates the company's commitment to maintaining proper regulatory compliance and transparency in its corporate disclosures.

These developments complete a significant transition period for the company, marking the final regulatory approval for its promoter structure changes alongside its rebranding and leadership transformation.

Chemo Pharma Laboratories Limited, a pharmaceutical company listed on the Bombay Stock Exchange (BSE), has initiated the process to reclassify a member of its promoter group as a public shareholder. The company submitted an application to the BSE on September 10, 2025, seeking approval for this change in shareholder categorization.

Reclassification Details

The application pertains to Ms. Shanta Somani, who is currently classified as part of the Promoter Group. According to the company's filing:

• Shareholder: Ms. Shanta Somani
• Current Category: Promoter Group Shareholder
• Proposed Category: Public Shareholder
• Shareholding: 0 shares (0.00% of the company's equity)

Regulatory Compliance

The reclassification request has been made under Regulation 31A of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations. This provision allows for the reclassification of promoters as public shareholders under specific conditions.

Company's Statement

In its official communication to the BSE, Chemo Pharma Laboratories stated:

"This is with reference with the captioned subject, and in compliance of Regulation 31A of SEBI LODR Regulations and amendment(s) thereto, we wish to inform you that the Company has made an application for approval to BSE Limited (BSE) on September 10, 2025 for reclassification of person forming part of the Promoter Group from 'Promoter Group Shareholder' category to 'Public Shareholder' category under the provisions of the SEBI LODR Regulations."

Implications

While the reclassification does not involve any change in Ms. Somani's shareholding, which stands at zero, it may have implications for the company's promoter group structure and regulatory reporting. The move could potentially affect the overall promoter holding percentage and the public float of the company's shares.

Investors and market participants will be watching for the BSE's decision on this application, as it may influence the perception of the company's ownership structure. The outcome of this reclassification request will be subject to regulatory scrutiny and approval from the stock exchange.