Modern Insulators Limited (MIL) has announced the withdrawal of its application to reclassify Kakunda Investment Private Limited from the Promoter Group to the Public Group. This decision marks a reversal of the company's earlier plans, which were approved by the Board of Directors on August 14, 2025.

Key Details of the Withdrawal

Implications and Process

The company has formally requested BSE Limited to withdraw both the initial intimation and the filed application from their records. This move effectively nullifies the previous decision to change the classification of Kakunda Investment Private Limited within the company's shareholding structure.

Modern Insulators Limited, headquartered in Sirohi, Rajasthan, has not provided specific reasons for this withdrawal in their communication to the stock exchange. The decision to maintain Kakunda Investment Private Limited's status in the Promoter Group could have implications for the company's ownership structure and potentially for its governance practices.

It's important to note that reclassification of promoter entities is a significant corporate action that can affect investor perceptions and regulatory compliance. The withdrawal of such an application suggests a reconsideration of the company's shareholding strategy or potential changes in the relationship between MIL and Kakunda Investment Private Limited.

Investors and market watchers may want to keep an eye on any further developments or explanations from Modern Insulators Limited regarding this decision.

Modern Insulators Limited (MIL) has announced a significant corporate action, setting October 31, 2025, as the record date for its scheme of arrangement with Modern Polytex Limited (MPL). This move marks a crucial step in the company's strategic plans, potentially impacting shareholders of both entities.

Key Details of the Arrangement

The scheme of arrangement between Modern Insulators and Modern Polytex involves a share exchange that will affect eligible shareholders. Here are the essential details:

Under this arrangement, eligible shareholders of Modern Insulators will receive one fully paid equity share of Modern Polytex (face value Rs. 10.00 each) for every two fully paid equity shares held in Modern Insulators (face value Rs. 10.00 each).

Corporate Governance and Compliance

The decision to fix the record date was made by the Board of Directors of Modern Insulators in consultation with Modern Polytex Limited. This collaborative approach ensures that the interests of both companies are considered in the implementation of the scheme.

The company has duly informed the BSE Ltd. about this development, adhering to the regulatory requirements under Regulations 30 and 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This transparency in communication is crucial for maintaining investor trust and complying with stock exchange norms.

Implications for Shareholders

Shareholders of Modern Insulators should take note of the following:

1. Eligibility: Only shareholders whose names appear in the register of members as of the record date (October 31, 2025) will be entitled to receive shares of Modern Polytex.
2. Share Allotment: The new shares in Modern Polytex will be issued and allotted based on the predetermined ratio.
3. Portfolio Adjustment: This arrangement will result in a diversification of holdings for existing Modern Insulators shareholders, as they will now have stakes in both companies.

Conclusion

This corporate action represents a significant development for Modern Insulators and its shareholders. It's part of a broader scheme of arrangement between Modern Insulators and Modern Polytex, the full details and implications of which may unfold in the coming months. Shareholders and potential investors should closely monitor further announcements from both companies to understand the complete impact of this arrangement on their investments.

As always, it is advisable for investors to consult with financial advisors to understand the personal implications of such corporate actions on their investment portfolios.