Tandhan Industries Limited (formerly known as Sanmitra Commercial Limited) has received a formal request from its promoter Mr. Prakash Bhoorchand Shah for reclassification from the 'Promoter and Promoter Group' category to the 'Public' category of shareholders. The request was submitted on February 28, 2026, in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shareholding Details

The company has disclosed the current shareholding position of the promoter seeking reclassification:

Regulatory Compliance Confirmations

In his formal request letter, Mr. Prakash Bhoorchand Shah has provided comprehensive confirmations and undertakings as required under SEBI regulations:

• Does not hold more than 10% of total voting rights in the company
• Does not exercise control, directly or indirectly, over company affairs
• Has no special rights through formal or informal arrangements, including shareholder agreements
• Is not represented on the Board of Directors as a director or nominee director
• Does not act as Key Managerial Personnel in the company
• Is not classified as a 'wilful defaulter' as per RBI guidelines
• Is not a fugitive economic offender
• Has no pending regulatory actions that would prohibit reclassification

Regulatory Framework

The proposed reclassification is being processed under Regulation 31A (10) of the SEBI LODR Regulations. The company has noted that the provisions of clause (a) of sub-regulation (3) and sub-regulation (8) of Regulation 31A shall not apply in this case. The request will require approval from the company's Board of Directors, shareholders, and the stock exchanges as mandated under the regulatory framework.

Next Steps

Mr. Shah has requested the company to place this reclassification request before the Board of Directors and subsequently before the shareholders for approval. The company will also need to seek approval from the stock exchanges as part of the reclassification process. The promoter has undertaken to provide any additional information or documents that may be required during the approval process.

Tandhan Industries Limited , formerly known as Sanmitra Commercial Limited, has formally disclosed comprehensive management changes under SEBI regulations following the completion of its board meeting held on February 27, 2026. The company submitted detailed disclosure documents to BSE Limited on February 28, 2026, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Disclosure and Compliance

The company filed formal disclosure documents with BSE Limited regarding the change in management pursuant to completion of the open offer process. The disclosure was made in accordance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, with all resignations taking effect from the close of business hours on February 28, 2026.

Board and Management Resignations

Six directors and two key managerial personnel submitted formal resignation letters, all citing the change in management following completion of the open offer process as the primary reason for their departure.

Open Offer Completion and New Promoters

The board formally recognized Ankit Jalan and Anuj Jalan as the new promoters of the company following the successful completion of their open offer process. The acquirers, along with persons acting in concert including Manju Jalan, Radhika Jalan, Prachi Jalan, Ritu Jalan, Divyanshi Jalan, and Daivik Jalan, completed the acquisition in accordance with SEBI regulations.

New Board Appointments

The Nomination and Remuneration Committee recommended several key appointments that were approved by the board:

Key Personnel Changes

The company also appointed new key managerial personnel to support the transformed leadership structure:

Corporate Infrastructure

The board approved the establishment of a new corporate office at Mouza Kashyabpur, J. L. No. 15, Kulgachia, Howrah-711303, West Bengal. All books of account, relevant papers, and financial statements will be prepared and maintained at this corporate office. The company maintains its registered address at 13, Prem Niwas 652, Dr. Ambedkar Road, Khar West, Mumbai, Maharashtra.

The comprehensive changes reflect the company's strategic transformation under new ownership, with all appointments subject to shareholder approval at the ensuing General Meeting. All resigning personnel confirmed that there were no material reasons for their resignation other than the management change following the open offer completion.