NRB Industrial Bearings Limited (NIBL) has announced the formation of a new Finance Committee, as approved by its Board of Directors on September 12, 2025. This strategic move aims to enhance the company's financial oversight and decision-making processes.

Committee Composition

The newly established Finance Committee comprises four key members:

1. Mr. Devesh Singh Sahney (Chairperson) - Managing Director
2. Mrs. Aarti Sahney (Member) - Director
3. Ms. Sejal Mehta (Member) - Independent Director
4. Mr. Sandeep Despande (Member) - Independent Director

Roles and Responsibilities

According to the company's disclosure, the Finance Committee will operate under specific terms of reference defined by the Board. The committee's primary function will be to oversee and guide financial matters within the organization.

Reporting Structure

The Finance Committee is set to play a crucial role in NIBL's governance structure. It will report its actions and decisions to subsequent Board meetings for review and information, ensuring transparency and accountability in its operations.

Regulatory Compliance

This announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has duly informed both the BSE Limited and the National Stock Exchange of India Limited about this development.

The formation of this Finance Committee demonstrates NRB Industrial Bearings Limited's commitment to strengthening its financial governance and adapting to the evolving needs of the business.

NRB Industrial Bearings Limited, a prominent player in the industrial bearings sector, has initiated a significant corporate action by applying for the reclassification of a key individual from its promoter group.

Reclassification Application

The company has submitted applications to both the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) for the reclassification of Ms. Harshbeena S. Zaveri from the 'Promoter Group' category to the 'Public' category. This move is in accordance with the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations.

Key Details of the Application

Regulatory Compliance

NRB Industrial Bearings has emphasized that this application is in full compliance with Regulation 31A of the SEBI LODR Regulations. The company has duly informed both the BSE and NSE about this reclassification request, adhering to the necessary regulatory protocols.

Implications

This reclassification, if approved, could potentially alter the company's shareholding structure and influence future corporate governance decisions. However, given that Ms. Zaveri currently holds no shares in the company, the immediate impact on ownership distribution appears to be minimal.

Next Steps

The reclassification process will now be subject to review and approval by the respective stock exchanges. Shareholders and market participants will be keenly watching for the outcome of this application and any subsequent changes in the company's promoter group structure.

NRB Industrial Bearings Limited continues to demonstrate its commitment to transparent corporate governance by promptly disclosing this development to the exchanges and its stakeholders.