Gabriel India Limited has issued a formal clarification to BSE Limited addressing concerns about significant price movement in its securities. The auto ancillary company responded to an inquiry from the stock exchange regarding unusual trading activity observed in its shares.

Company's Response to BSE Inquiry

Gabriel India addressed the BSE's inquiry about the significant price movement in its securities. The company stated that it is unaware of any specific reasons behind the volatility in its share prices across exchanges.

Key Clarifications Provided

The company made several important clarifications in its response to the stock exchange:

• No Awareness of Price Movement Reasons: Gabriel India stated that it is not aware of any specific reasons for the significant movement in its security prices across exchanges
• No Undisclosed Information: The company confirmed there is no information or announcement that could have a bearing on its operations or performance
• No Price-Sensitive Data: Gabriel India assured that there is no price-sensitive information that has not been disclosed to stock exchanges
• Transparent Disclosure: The company emphasized its commitment to proper disclosure practices as per regulatory requirements

Regulatory Compliance

The clarification was issued under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to disclose events or information that could materially affect their share prices. Gabriel India's proactive response demonstrates adherence to regulatory compliance requirements.

The company has requested BSE to acknowledge receipt of the clarification and take the information on record for regulatory purposes.

Gabriel India Limited (GIL) has reached a significant milestone in its corporate restructuring process. The company announced that it has received a 'no-objection' letter from the National Stock Exchange of India (NSE) for its proposed composite scheme of arrangement. This development marks a crucial step forward in the company's strategic plans for reorganization.

Key Details of the Composite Scheme

The composite scheme involves two main components:

1. Amalgamation: Anchemco India Private Limited (formerly known as Andasia Private Limited) will be merged with Asia Investments Private Limited.
2. Demerger: The automotive undertaking of Asia Investments Private Limited will be demerged into Gabriel India Limited.

Regulatory Approval Process

The NSE's approval allows Gabriel India to proceed with filing the scheme with the National Company Law Tribunal (NCLT), Mumbai Bench. This is in compliance with Regulation 37 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Next Steps and Conditions

While this is a significant step, the effectiveness of the scheme remains subject to several conditions:

1. NCLT Approval: The scheme must receive final approval from the NCLT.
2. Additional Regulatory Clearances: Other necessary regulatory approvals may be required.
3. Compliance Requirements: The company must adhere to various compliance measures outlined by SEBI and NSE, including:
   • Ensuring transparency in disclosures to shareholders
   • Maintaining compliance with SEBI circulars and regulations
   • Providing detailed financial information and rationale for the scheme

Implications for Shareholders

Shareholders should note that the implementation of this scheme may result in changes to the shareholding pattern of the company. Gabriel India is required to prominently disclose these potential changes to ensure informed decision-making by public shareholders.

Corporate Governance and Transparency

In line with regulatory requirements, Gabriel India has made the observation letter from NSE available on its website, demonstrating its commitment to transparency. The company is obligated to incorporate SEBI and NSE observations in its petition to the NCLT.

Conclusion

This development represents a significant step in Gabriel India's corporate restructuring efforts. While the NSE's no-objection letter is a positive sign, the success of the scheme ultimately depends on NCLT approval and compliance with regulatory requirements. Shareholders and investors are advised to closely monitor further announcements from the company regarding the progress of this scheme.

The market will be watching closely to see how this restructuring impacts Gabriel India's operations and financial performance in the automotive components sector.