National fittings Limited has officially withdrawn its application to the Bombay Stock Exchange (BSE) for reclassifying promoter A V Palaniswamy from promoter category to public group. The withdrawal was communicated to BSE through a letter dated 22.01.2026, citing procedural clarity regarding open offer acquisitions.

Background of the Reclassification Request

The company had initially filed application No. 265282 dated 06.01.2026 seeking reclassification of Mr. A V Palaniswamy from promoter to public group following the complete sale of his shareholding to Himgiri Castings Private Limited. The transaction necessitated the reclassification as Palaniswamy had divested his entire stake in the company to the acquirer.

Open Offer Process Details

The acquisition by Himgiri Castings Private Limited triggered an open offer requirement due to the 34.04% stake acquisition. The open offer process was successfully completed with the completion certificate received from the appointed manager Keynote, Mumbai on 13.10.2025.

Reason for Application Withdrawal

National Fittings Limited discovered that for acquisitions completed through open offer, the reclassification of promoters to public group must be undertaken by the company with shareholder approval. The company realized that obtaining a no-objection certificate (NOC) from BSE is not required for such reclassifications when they occur through the open offer route.

Financial Implications

The company has requested BSE to refund the application processing fees of ₹54,000 paid for the withdrawn application. This refund request was included in the withdrawal communication sent to BSE's Corporate Relationship Department.

Compliance and Next Steps

The withdrawal letter was signed by S. Aravinthan, Compliance Officer of National Fittings Limited. The company will now need to proceed with the promoter reclassification through the appropriate shareholder approval process rather than seeking BSE's regulatory clearance. This procedural correction ensures compliance with the correct regulatory framework for open offer-related promoter reclassifications.

National Fittings Limited has successfully concluded its postal ballot e-voting process, with shareholders unanimously approving a special resolution to relocate the company's registered office from Tamil Nadu to Gujarat. The company has officially communicated the results to Bombay Stock Exchange Limited through a formal filing dated February 14, 2026.

Official BSE Communication

S. Aravinthan, Compliance Officer of National Fittings Limited, submitted the postal ballot results to BSE's Corporate Relationship Department. The official communication confirms that Postal Ballot 02/25-26 for shifting the registered office from Tamil Nadu to Gujarat was passed by shareholders as a special resolution.

E-Voting Process Details

The postal ballot process was conducted in accordance with Section 108 of the Companies Act, 2013, and relevant MCA circulars. B. Krishnamoorthi, a practicing Chartered Accountant from Coimbatore, served as the appointed scrutinizer to ensure fair and transparent voting procedures.

Voting Results

The e-voting results demonstrate strong shareholder support for the proposed office relocation:

Regulatory Compliance

The company adhered to all regulatory requirements during the postal ballot process. National Securities Depository Limited (NSDL) provided the e-voting platform, while MUFG Intime India Private Limited (formerly Link Intime India Private Limited) served as the Registrar and Share Transfer Agent.

The postal ballot notice, dated January 07, 2026, was sent electronically to all eligible members whose email addresses were registered with the company or depositories. This approach aligned with MCA circulars that permit electronic-only distribution of postal ballot notices.

Office Relocation Details

The approved special resolution authorizes National Fittings Limited to shift its registered office from its current location at 112 Madhapur Road, Kaniyur Village, Karumathampatti, Coimbatore-641659 in Tamil Nadu to a new location in Gujarat state. The scrutinizer confirmed that the resolution passed with the requisite majority as specified under the Companies Act, 2013, making the office relocation proposal legally binding and effective.