Steel Exchange India Limited has announced the resignation of its Nominee Director Mr. Nagoji Ram Mohan, effective January 02, 2026. The resignation follows the withdrawal of nomination by the company's lender, Vishwa Samudra Holdings Private Limited, marking a significant change in the company's board composition.

Resignation Details and Timeline

Mr. Nagoji Ram Mohan (DIN: 02895361) submitted his resignation from the position of Nominee Director with effect from the closing business hours on January 02, 2026. The resignation was formally communicated to the Board of Directors on the same date, with the director citing the withdrawal of nomination by Vishwa Samudra Holdings Private Limited as the primary reason.

Regulatory Compliance and Disclosures

Steel Exchange India Limited has fulfilled its regulatory obligations by informing both BSE Limited and National Stock Exchange of India Limited about the directorial change. The company filed the intimation under Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The disclosure includes comprehensive details as required under SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, specifically concerning the resignation of a Nominee Director. Company Secretary and Compliance Officer Raveendra Babu M (M.No: A34409) signed the regulatory filings on January 03, 2026.

Formal Documentation Process

The company has received the formal resignation letter from Mr. Nagoji Ram Mohan, dated January 02, 2026, submitted from Hyderabad. In his resignation letter, the director requested the Board to arrange filing of necessary forms with the Registrar of Companies and Stock Exchanges to formalize the resignation process.

Company's Response and Next Steps

The company has officially acknowledged the resignation and expressed appreciation for Mr. Nagoji Ram Mohan's valuable contributions during his tenure as Nominee Director. Steel Exchange India Limited confirmed that it will arrange to file the necessary forms with the Registrar of Companies and complete all required regulatory procedures to formalize the resignation.

The board composition change reflects the dynamic relationship between the company and its financial stakeholders, particularly regarding nominee director appointments by lending institutions. The company maintains its commitment to proper corporate governance and regulatory compliance throughout this transition period.

Steel Exchange India Limited has completed the scheduled redemption of its Listed, Rated, Secured Non-Convertible Debentures (NCDs) on January 7, 2026, and submitted the required details to BSE Limited and National Stock Exchange under Regulation 57(1) of SEBI (LODR) Regulations, 2015. The company, which operates an integrated steel plant in Sreerampuram, Vizianagaram District, provided comprehensive information about the redemption completion and regulatory compliance.

Redemption Completion Details

The scheduled redemption was executed as a partial redemption by face value reduction, with the company successfully completing the process on the designated date. The redemption involved reducing the face value of existing NCDs while maintaining the debenture structure.

Regulatory Compliance

The company submitted detailed information to both BSE Limited and National Stock Exchange of India Limited, ensuring full compliance with regulatory requirements. The submission was made under Regulation 57(1) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Corporate Operations

Steel Exchange India Limited continues to operate its integrated steel plant facility in Sreerampuram, L.Kota Mandal, Vizianagaram District. The company maintains its registered office in Hyderabad and corporate office in Visakhapatnam, ensuring proper operational oversight and regulatory compliance across its business operations.

Financial Impact

The successful completion of the scheduled redemption demonstrates the company's commitment to honoring its debt obligations while managing its capital structure effectively. With ₹195.01 crores still outstanding in secured NCDs, the company maintains a structured approach to debt management with the remaining debentures scheduled to mature on October 6, 2030.