Sudarshan Chemical Industries Limited — Important, 14-12-2024: Updates

Mr. Pradeep Rathi, Non-Executive Chairman, has sold 7,61,500 equity shares, and his wife, Mrs. Subhadra Rathi, has sold 13,13,680 equity shares, totaling 3.00% of the company’s paid-up share capital. Both Mr. Pradeep Rathi and Mr. Anuj Rathi, Non-Executive Director, along with their respective family members, have expressed intentions to reclassify themselves as public shareholders and to no longer participate in the management of the company. This move aims to mitigate potential liability for them. They plan to submit formal applications for this reclassification in compliance with relevant regulations. The Board has noted these developments and will act on the reclassification once formal applications are received, ultimately seeking the approval of shareholders and the stock exchanges. This shift may enhance corporate governance and could be viewed positively by investors.