Board Approves Reclassification of Promoters to Public Category for Sanathnagar Enterprises Limited
The Board of Directors of Sanathnagar Enterprises Limited has approved the reclassification of three members of the Promoter and Promoter Group—Mr. N.P.S. Shinh, Ms. Manita Shinh, and Continuous Forms (Calcutta) Limited—to the Public category. This decision follows their applications requesting a change in status from promoter to public shareholder.The Board meeting, held on July 14, 2026, considered the requests from the individuals and the company. The outgoing Promoters collectively hold 72,090 equity shares of the Company, representing 2.28% of the paid-up equity share capital.
According to details provided by the Board, the shareholdings and percentages held by each Outgoing Promoter are as follows:
| Entity | Equity Shares Held | Percentage of Paid-up Capital |
|---|---|---|
| Mr. N.P.S. Shinh | 14,955 | 0.47% |
| Ms. Manita Shinh | 3,150 | 0.10% |
| Continuous Forms (Calcutta) Limited | 53,985 | 1.71% |
The members of the Promoter and Promoter Group confirmed in their respective applications that they meet several criteria for reclassification. They collectively stated that:
- They do not hold more than ten percent of the total voting rights in the Company.
- They do not exercise control over the affairs of the Company directly or indirectly.
- They do not have any special rights with respect to the Company through formal or informal arrangements or shareholder agreements.
The Board noted that all three Outgoing Promoters are engaged in independent professions or businesses and none has held an executive position in the company since 2010. All members also confirmed they were neither willful defaulters as per Reserve Bank of India guidelines nor fugitive economic offenders, and there was no pending regulatory action against them.
The Board formally approved the reclassification of these parties to the Public category, subject to obtaining No-Objection (NOC) from BSE Limited and subsequent approval by the shareholders through an ordinary resolution. The Directors confirmed that upon this reclassification, the Company would remain compliant with requirements for minimum public shareholding as required under Regulation 38 of the Listing Regulations.
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