Continental Controls Limited has issued a clarification to BSE Limited regarding the resignation of its Whole Time Director & CFO, following regulatory requirements under SEBI disclosure norms. The company provided additional details about the departure of a key executive position that occurred earlier in the year.

Regulatory Clarification Details

The clarification was issued on December 30, 2025, in response to BSE's email dated December 24, 2025, which sought additional details regarding a corporate announcement filed on April 12, 2025. The exchange had identified discrepancies in the original disclosure that required rectification under Regulation 30 of SEBI (LODR) Regulations, 2015.

Disclosure Error and Correction

Continental Controls acknowledged that due to an inadvertent and unintentional error during the filing of the original corporate announcement, the resignation letter did not specify the reason for Mr. Thakkar's departure. The company has now clarified that the resignation was tendered due to personal reasons.

The company provided comprehensive details as required under SEBI regulations, including:

• Complete disclosure pursuant to Regulation 30 requirements
• Reference to SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
• Original resignation letter as supporting documentation

Regulatory Compliance

The clarification demonstrates the company's commitment to maintaining transparency and regulatory compliance. Company Secretary & Compliance Officer Jyoti Darade (ACS 70171) signed the disclosure, ensuring proper documentation and submission to the stock exchange.

The resignation was received and accepted by the Board at its meeting held on April 12, 2025, indicating that proper corporate governance procedures were followed during the transition process.

Continental Controls Limited (ISIN: INE545B01022) has successfully passed seven resolutions through a postal ballot voting process, marking significant corporate decisions for the company's future. The resolutions, which included authorization to increase share capital and approval of material related party transactions, received overwhelming support from shareholders.

Key Resolutions Passed

1. Increase in Authorized Share Capital: Shareholders approved an increase in the company's authorized share capital and consequent amendment to the Memorandum of Association.

2. Alteration of Objects Clause: The objects clause of the Memorandum of Association was altered, potentially signaling new business directions for the company.

3. Related Party Transactions: Approval was granted for material related party transactions with five entities for the fiscal year 2025-2026:

   • Onelife Capital Advisors Limited
   • Dealmoney Commodities Private Limited
   • Dealmoney Real Estate Private Limited
   • Dealmoney Distribution and E-Marketing Private Limited
   • Sarsan Securities Private Limited

Voting Process and Results

The voting was conducted entirely through remote e-voting from November 5 to December 4, 2025. All resolutions received strong shareholder support, with approval rates exceeding 99%.

Financial Position

While Continental Controls has received strong shareholder support for its resolutions, it's important to consider the company's current financial position. Based on the latest balance sheet data:

The company's balance sheet shows a slight improvement in total assets over the past year, while maintaining stable share capital. However, the negative reserve and surplus figure indicates ongoing financial challenges that the company may need to address.

Conclusion

The strong shareholder support for these resolutions suggests confidence in Continental Controls' strategic direction. However, the company's financial position, particularly the negative reserves, warrants careful consideration as it moves forward with its plans for capital increase and related party transactions.