Royal Cushion Vinyl Products has issued a clarification to BSE Limited regarding recent movements in its equity share price, stating that no undisclosed price-sensitive information exists that could influence trading behavior. The Mumbai-based plastic products manufacturer responded to a surveillance inquiry dated January 5, 2026, from the stock exchange.

Company's Official Response

In its clarification dated January 6, 2026, Royal Cushion Vinyl Products confirmed that it has examined the matter thoroughly and found no information or impending announcements that could impact share price or volume behavior which hasn't been disclosed to the stock exchange. The company emphasized its compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Market-Driven Price Movement

The company attributed the recent price movements to market dynamics rather than any specific corporate developments. According to the official statement, the movement in equity share prices is "purely market driven and may be attributable to general market conditions and investor perception." This clarification suggests that external market factors and investor sentiment are driving the trading activity rather than any undisclosed corporate information.

Regulatory Compliance Assurance

Royal Cushion Vinyl Products reaffirmed its commitment to regulatory compliance and transparency. The company assured BSE that it will continue to promptly disclose any material events or information that could affect the performance or price behavior of its securities, as required under SEBI (LODR) Regulations, 2015.

The clarification was signed by Managing Director Mahesh Shah (DIN: 00054351) and submitted to BSE's Surveillance Department. Such regulatory responses are standard practice when stock exchanges seek explanations for unusual price or volume movements in listed securities.

Royal Cushion Vinyl Products Limited has received regulatory clearance from BSE Limited for its proposed merger scheme with Natroyal Industries Private Limited. The company disclosed that BSE issued an observation letter dated December 15, 2025, with no adverse observations regarding the scheme of arrangement.

Merger Scheme Details

The proposed scheme involves the arrangement between Royal Cushion Vinyl Products Limited as the transferee company and Natroyal Industries Private Limited as the transferor company, along with their respective shareholders and creditors. The merger is being conducted under Sections 230-232 of the Companies Act, 2013, read with applicable rules.

The Board had initially approved this scheme on March 26, 2025, subject to receiving applicable regulatory and other approvals. The BSE observation letter represents a crucial regulatory milestone in the merger process.

Regulatory Compliance Requirements

BSE has outlined comprehensive compliance requirements that the company must fulfill. The exchange emphasized that the proposed composite scheme must comply with Regulation 11 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key compliance areas include:

• Complete disclosure of ongoing adjudication, recovery proceedings, and enforcement actions against both companies, their promoters, and directors
• Display of additional information on company and stock exchange websites
• Prohibition of changes to the draft scheme except those mandated by regulators
• Inclusion of unlisted company information in abridged prospectus format
• Financial statements not older than six months from the scheme date

Disclosure and Documentation Standards

The exchange has mandated specific disclosure requirements for shareholder communication. The company must provide detailed explanations in the explanatory statement accompanying the resolution, including:

Financial and Valuation Disclosures

The company must disclose comprehensive financial information including revenue, profit after tax, and EBITDA for both entities over the last three financial years. Additionally, details of the registered valuer issuing the valuation report and merchant banker providing fairness opinion must be included, along with share exchange ratio methodology.

Timeline and Next Steps

The BSE observation letter carries a validity period of six months from December 15, 2025, within which the scheme must be submitted to the National Company Law Tribunal (NCLT). The company has uploaded the observation letter on BSE's website under the Corporates Corporate Filing Scheme section as required under Regulation 37.

BSE reserves the right to withdraw its no adverse observation status if any information submitted is found to be incomplete, incorrect, misleading, or false, or for any contravention of exchange rules and regulations. The exchange has clarified that document submission should not be deemed as clearance or approval, and it takes no responsibility for the financial soundness of the scheme.