Sadhana Nitrochem , a prominent player in the chemical industry, has found itself at the center of a legal dispute involving its promoters and several broking firms. The company recently disclosed significant developments that could have implications for its shareholders and market position.

Court Injunction Halts Share Sales

The promoters of Sadhana Nitrochem, Manekchand Panachand Trading Investment Company Private Limited, secured an ad-interim injunction from the Bombay High Court. This legal action restrains three entities - Badjate Stock Broking Private Limited, Badjate Stocks and Shares Private Limited, and Bonanza Portfolio Limited - from further selling the company's shares that were previously pledged with them.

Legal Action Against Broking Firms

In a bold move, the promoters have filed a lawsuit seeking damages against the aforementioned three entities. The suit alleges illegal invocation and subsequent sale of Sadhana Nitrochem's shares, which the promoters claim has resulted in losses and damages. Notably, Sadhana Nitrochem itself is listed as Defendant No. 6 in this legal proceeding.

Company's Response and Next Steps

Sadhana Nitrochem, in its filing to the stock exchanges, stated that it is "urgently obtaining independent legal advice on the matter." The company aims to evaluate available legal measures to protect shareholder interests in light of these developments.

Abhishek A. Javeri, the Managing Director of Sadhana Nitrochem, assured stakeholders that the company will disclose any material developments as per applicable regulations. This commitment to transparency underscores the seriousness with which the company is approaching the situation.

Implications for Shareholders

While the full impact of these legal proceedings remains to be seen, shareholders of Sadhana Nitrochem should stay alert to further announcements. The outcome of this case could potentially affect the company's share price and overall market perception.

As this legal battle unfolds, market participants will be keenly watching for any shifts in the company's ownership structure or any potential impact on its operations. Sadhana Nitrochem's proactive approach in seeking legal advice and its commitment to protecting shareholder interests may provide some reassurance to investors during this period of uncertainty.

Sadhana Nitrochem Limited , acting as a Security Trustee for lenders, has significantly reduced its stake in Sadhana Nitrochem Limited through the sale of invoked equity shares. The transaction, which took place on August 11, 2025, saw Catalyst Trusteeship offloading 72,46,119 shares of the chemical manufacturer.

Stake Reduction Details

The sale resulted in a notable decrease in Catalyst Trusteeship's holding in Sadhana Nitrochem:

• Previous Holding: 8.22% of the total share capital
• Current Holding: 6.02% of the total share capital

This reduction represents a 2.20 percentage point decrease in ownership.

Transaction Specifics

Company Overview

Sadhana Nitrochem Limited, listed on both BSE Limited and the National Stock Exchange of India Limited, has a total paid-up equity share capital of 32,94,11,057 shares, each with a face value of INR 1.

Regulatory Compliance

The disclosure of this transaction was made in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Catalyst Trusteeship Limited, represented by Senior Vice President Deesha Srikkanth, filed the necessary documentation on August 13, 2025.

Recent Corporate Developments

In other recent news, Sadhana Nitrochem has undergone some changes in its key managerial personnel:

1. CFO Resignation: Mr. Rakesh Raichand Kothari, the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), has resigned effective August 14, 2025, citing personal commitments.

2. New Appointments:

   • Mr. Vimal Jain has been appointed as President of Operations and Finance, effective August 12, 2025.
   • Mr. Jayesh Shah has been appointed as Vice President of Operations and Finance, also effective August 12, 2025.

These management changes are part of the company's ongoing efforts to strengthen its financial and operational leadership.

Financial Update

As of June 30, 2025, Sadhana Nitrochem reported no deviation in the use of funds raised through its rights issue. The company had raised Rs. 49.91 crores, of which Rs. 22.17 crores have been utilized for financing the acquisition of a 126-acre plot of land and issue-related expenses.

The sale of invoked shares by Catalyst Trusteeship and the recent management changes highlight the dynamic nature of Sadhana Nitrochem's corporate landscape, as the company continues to navigate its financial and operational strategies.