Omnipotent Industries Limited has issued a revised intimation to BSE Limited regarding the appointment of M/s Ritik Agrawal & Company, Chartered Accountants as its Internal Auditor. The formal communication was submitted on February 16, 2026, following the board approval granted on February 14, 2026.

Regulatory Compliance and Documentation

The revised intimation has been submitted pursuant to Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular No SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company has provided comprehensive documentation to BSE Limited including the appointee's detailed profile as required under SEBI regulations.

Appointment Details and Timeline

The key details of the internal auditor appointment are presented below:

Profile of the Appointed Internal Auditor

M/s Ritik Agrawal & Company is a firm of Chartered Accountants duly registered with the Institute of Chartered Accountants of India (ICAI) under Firm Registration Number 038727C. According to the formal documentation submitted to BSE, the firm adopts a systematic and risk-based audit approach designed to evaluate the adequacy and effectiveness of internal control systems.

The appointed firm's methodology focuses on ensuring compliance with applicable laws, regulations, and corporate governance standards, which aligns with the company's commitment to maintaining robust internal controls and governance framework.

Corporate Communication and Compliance

The revised intimation was digitally signed and submitted by Aman Patel, Company Secretary and Compliance Officer (Membership No.: A79254), ensuring full transparency and regulatory compliance in the disclosure process. The communication includes comprehensive annexure detailing the appointment specifics as mandated under SEBI circular requirements.

This appointment represents Omnipotent Industries Limited's continued focus on strengthening its corporate governance framework through proper internal audit functions and regulatory compliance.

Omnipotent Industries Limited's board of directors has decided to withdraw its earlier approval for a promoter reclassification application, citing multiple regulatory and compliance concerns. The decision was made during a board meeting held on February 14, 2026, where directors reconsidered the request from Mr. Punit Popat for reclassification from promoter to public category.

Reclassification Request Background

Mr. Punit Popat, presently classified as a promoter of the company, had initially sought reclassification from promoter category to public category under Regulation 31A of SEBI (LODR) Regulations, 2015. The board had previously approved this reclassification request during its meeting held on October 6, 2025. However, the company had not filed the application with BSE Limited after the initial approval.

Key Regulatory Concerns

The board identified several critical issues that influenced their decision to withdraw the application:

Board's Decision Rationale

The board noted that certain regulatory non-compliances and consequential penalties presently outstanding pertain to the period during which Mr. Punit Popat was classified as promoter and was associated with the management and control of the company. After detailed deliberations, the board considered the overall regulatory, compliance and financial position of the company.

The board was particularly concerned that upon reclassification, the applicant would cease to be classified as promoter and would not be subject to ongoing promoter-related obligations under SEBI (LODR) Regulations. Additionally, the present financial position of the company and the constraints in discharging the outstanding regulatory liabilities at this stage were significant factors in the decision.

Meeting Details

Conclusion

The board concluded that proceeding with the reclassification application at this stage may not be in the overall interest of the company and its stakeholders. Accordingly, the board decided not to proceed further with the reclassification application and to withdraw the earlier approval granted for filing the application with the stock exchange. This decision reflects the company's cautious approach toward regulatory compliance and stakeholder interests amid ongoing regulatory challenges.