Sparkle Gold Rock Limited has issued a clarification to BSE regarding a penalty order by customs authorities, stating that the penalty does not apply to the listed company but to a different entity with a similar name.

Penalty Order Clarification

The company clarified that the penalty order issued by the Office of the Principal Commissioner of Customs, Chennai-III, dated December 15, 2025, specifically applies to "Sree Jayalakshmi Autospin Private Limited" and not to "Sree Jayalakshmi Autospin Limited," the listed entity.

Board's Position on Allegations

The company emphasized that the current board of directors were not involved in any transactions or acts as alleged in the order. The company stated that the allegations pertain to a time period when the present board of directors were not part of the company.

Key points highlighted by the company include:

• Current board has no involvement in alleged transactions
• Allegations are based on statements from third parties not associated with the company
• No documentary proof supports the allegations
• Company has no association with individuals and entities mentioned in the order

Legal Response and Actions

Sparkle Gold Rock Limited has taken proactive steps to address the situation. The company has filed detailed objections refuting what it describes as "unsubstantiated allegations." Additionally, appropriate legal recourse is underway to safeguard the company's interests.

Regulatory Compliance

This clarification was issued pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company referenced a previous announcement made on BSE on January 21, 2026, regarding the imposition of penalty by customs authorities.

The clarification was signed by Lakshita Sharma, Director (DIN: 09831479), and submitted to ensure accurate disclosure and maintain proper records with the stock exchange.

Sparkle Gold Rock Limited has successfully obtained regulatory approval from BSE Limited for the reclassification of promoter K.V. Prabhakar from promoter category to public category. The approval comes under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, marking a significant corporate governance milestone for the Jaipur-based company.

BSE Grants No-Objection for Reclassification

BSE Limited issued its no-objection letter dated February 23, 2026, approving the reclassification request that was originally submitted by the company on April 9, 2025. The approval allows K.V. Prabhakar to transition from promoter status to the public category, effectively changing the company's shareholding structure.

Regulatory Compliance and Timeline Issues

While granting the approval, BSE has highlighted compliance concerns regarding disclosure timelines. The exchange noted that although the reclassification application was submitted on April 9, 2025, the mandatory disclosure under Regulation 31A(8)(c) was made only on September 12, 2025. This represents a significant delay from the stipulated 24-hour disclosure requirement following submission of such applications.

BSE has advised the company to exercise due caution and implement corrective measures to ensure future compliance with exchange circulars and regulatory communications. The exchange emphasized the importance of adhering to prescribed timelines for material event disclosures.

Company's Response and Future Measures

Sparkle Gold Rock Limited, formerly known as Sree Jayalakshmi Autospin Limited, has acknowledged the delay and expressed regret for the compliance lapse. The company has assured stakeholders that appropriate measures are being implemented to strengthen its compliance framework and prevent similar instances in the future.

The company has made this disclosure in accordance with Regulation 31A(8)(d) of SEBI (LODR) Regulations, 2015, and confirmed that the information is also available on its official website. With this reclassification approval, the company completes a regulatory process that began nearly a year ago, reshaping its promoter structure as K.V. Prabhakar transitions to public shareholder status.