Sudarshan Chemical Industries Limited , a prominent player in the chemical industry, has received shareholder approval for a significant change in its ownership structure. The company announced that its shareholders have approved the reclassification of certain individuals from the Promoter/Promoter Group category to the Public category through a postal ballot.

Key Details of the Reclassification

The reclassification affects three key individuals:

1. Mr. Pradeep Ramwilas Rathi (4.36% shareholding)
2. Mr. Rahul Pradeep Rathi (3.85% shareholding)
3. Mrs. Subhadra Pradeep Rathi (no shares)

This move results in a substantial shift in the company's shareholding pattern:

• Promoter shareholding decreases from 16.40% to 8.19%
• Public shareholding increases from 83.60% to 91.81%

The total shares involved in the reclassification represent 8.21% of the company's equity.

Voting Results

The resolution for reclassification was passed with an overwhelming majority. According to the scrutinizer's report:

• 91.50% of the total votes were cast in favor of the resolution
• 8.50% of the votes were against the proposal

The voting pattern across different categories was as follows:

Implications and Compliance

This reclassification aligns with regulatory requirements and reflects changes in the company's ownership structure. The move is subject to necessary approvals and complies with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Sudarshan Chemical Industries Limited conducted the voting process through remote e-voting, in line with the current regulatory framework and COVID-19 related circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India.

This development marks a significant change in Sudarshan Chemical Industries' ownership structure, potentially impacting its governance and public perception. Investors and market watchers will likely keep a close eye on any further developments or strategic shifts following this reclassification.

Sudarshan Chemical Industries Limited , a prominent player in the chemical sector, has initiated a significant corporate action that could reshape its ownership structure. The company has issued a postal ballot notice to seek shareholder approval for the reclassification of certain members of the Pradeep R. Rathi Group from the 'Promoter/Promoter Group' category to the 'Public' category.

Reclassification Details

The reclassification request involves three key individuals:

1. Pradeep Ramwilas Rathi, holding 34,24,740 shares (4.36% stake)
2. Rahul Pradeep Rathi, holding 30,23,859 shares (3.85% stake)
3. Subhadra Pradeep Rathi, holding no shares

Collectively, these individuals hold 64,48,599 shares, representing 8.21% of the company's total shareholding.

Corporate Governance Process

The Board of Directors of Sudarshan Chemical Industries approved the reclassification request on May 29, 2025. Subsequently, the company received no-objection letters from both the BSE Limited and the National Stock Exchange of India Limited on July 15, 2025, paving the way for shareholder approval.

Voting Process

The company has initiated a postal ballot process to seek shareholder approval for this reclassification:

• The postal ballot notice was sent electronically to shareholders on August 7, 2025.
• Remote e-voting will be conducted through the National Securities Depository Limited (NSDL) platform.
• The voting period is set from August 8, 2025, to September 6, 2025.

Impact on Shareholding Structure

If approved, this reclassification will lead to a significant shift in the company's shareholding pattern:

Regulatory Compliance

The applicants have confirmed their compliance with all regulatory conditions as per SEBI regulations, including:

• Holding less than 10% of the total voting rights
• Not exercising control over the company
• Having no special rights or board representation

Shareholder Decision

Shareholders of Sudarshan Chemical Industries now have the opportunity to vote on this significant change in the company's ownership structure. The outcome of this postal ballot will determine whether the Pradeep R. Rathi Group members will be reclassified as public shareholders, potentially altering the dynamics of the company's ownership and control.

This move underscores the company's commitment to transparent corporate governance and adherence to regulatory norms. Shareholders are advised to carefully consider the implications of this reclassification before casting their votes.