Evans Electric Limited (BSE: 542668) has responded to the Bombay Stock Exchange's (BSE) inquiry regarding the delayed disclosure of its Chief Financial Officer's retirement, providing insights into the timeline and reasons for the delay.

Retirement Disclosure Timeline

According to the company's response to BSE:

• September 11, 2025: The HR department issued the retirement letter to the Chief Financial Officer.
• September 15, 2025: The HR department communicated the retirement information to the secretarial team.
• September 16, 2025: Evans Electric filed the disclosure with stock exchanges.
• September 17, 2025: BSE sent an email to the company seeking reasons for the delay in disclosure.
• September 19, 2025: Evans Electric submitted its official response to BSE.

Reasons for Delayed Disclosure

Evans Electric attributed the delay to an interpretational difference regarding the disclosure requirements under SEBI LODR Regulations. The company explained that:

1. The HR department was under the impression that the disclosure requirement was within seven days from the date the retirement comes into effect, as per their understanding of Regulation 30 read with Para A of Schedule III, sub-clause 7C of SEBI LODR Regulations, 2015.

2. The retirement intimation reached the Secretarial Department on September 15, 2025, and the disclosure was filed with the Stock Exchanges on September 16, 2025, within 24 hours of receipt by the Secretarial Department.

3. The company emphasized that the delay was inadvertent and caused by an interpretational difference, with no malicious intent or prejudice to stakeholders.

Company's Assurance and Request for Leniency

In its response to BSE, Evans Electric:

• Assured that future disclosures will be made within prescribed timelines.
• Requested the Exchange to take a lenient view, considering that the event pertains to retirement due to age factor and not resignation due to any adverse reason.
• Committed to ensuring timely disclosures and stated that it has sensitized the concerned internal departments to avoid any recurrence.

Management's Statement

Ivor Anthony Desouza, Director of Evans Electric Limited, signed the response to BSE, stating, "The Company remains committed to ensuring timely disclosures and has sensitized the concerned internal departments to avoid any recurrence."

Evans Electric Limited, headquartered in Mumbai, specializes in heavy electro-mechanical repairs. The company's response demonstrates its commitment to addressing regulatory concerns and improving its disclosure practices in line with SEBI regulations.

Evans Electric Limited , a company specializing in heavy electro-mechanical repairs, has announced the retirement of its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), Anil Gulwani. The retirement took effect at the close of business hours on September 11, 2025, as per the company's retirement policy.

Retirement Details

The decision for Gulwani's retirement was made in accordance with the company's retirement policy, which was recommended by the Nomination and Remuneration Committee and approved by the Board of Directors. Evans Electric Limited has expressed its deep appreciation for Gulwani's services and contributions during his tenure as CFO.

Succession Plan

The company is currently in the process of appointing a suitable candidate to fill the crucial position of CFO and KMP. Evans Electric has stated that it will inform the stock exchanges about the new appointment in due course, adhering to applicable regulations.

Regulatory Compliance

In compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Evans Electric Limited has formally notified the BSE Limited of this significant change in key personnel. The company provided the necessary details as required by SEBI regulations, including the reason for the change and the effective date of cessation.

Company Overview

Evans Electric Limited, with its registered office in Santa Cruz (West), Mumbai, operates in the heavy electro-mechanical repairs sector. The company's production facility is located in Palghar, Maharashtra. As a publicly listed entity on the BSE with the scrip code 542668, Evans Electric is committed to maintaining transparency with its stakeholders through timely disclosures of material information.

The retirement of a key executive such as the CFO marks a significant transition for Evans Electric Limited. As the company moves forward with its search for a new financial leader, stakeholders will be keenly watching for announcements regarding the appointment of Gulwani's successor.