HAHira Automobiles531743Routine SEBI update

Quarterly compliance report: delisting timeline restated, Rs. 14 Lacs penalty paid

Quarterly compliance report under Clause 19 of the June 4, 2013 SEBI order, quarter ended 30-09-2026.

By ScoutQuest · Wed 14 Oct 2026, 1:00 PM IST · 2 min read

Reporting quarter

quarter ended 30-09-2026

Penalty imposed

Rs. 14 Lacs

Balance public shareholding

4.28%

What the update is

Hira Automobiles has submitted its quarterly compliance report under Clause 19 of the SEBI order dated June 4, 2013, for the quarter ended 30-09-2026. The report restates, as a table of events and dates, the steps the company has taken on delisting its securities from all the stock exchanges and on meeting the minimum public shareholding requirement.

The sequence as stated in the report

• May 25, 2013: request letter from the Chairman, Sh. Rahulinder Singh Sidhu, to public shareholders about plans to acquire 4.98%, described as the total remaining public shareholding.
• May 28, 2013: board resolutions authorising delisting of the equity shares, and appointment of R.P.S Khurana and Associates as scrutiniser for the postal ballot and Class I merchant banker for the delisting.
• May 30, 2013: dispatch of postal ballot notices to shareholders completed; May 31, 2013: newspaper advertisement about the dispatch.
• June 3, 2013: request to SEBI for extension of time; June 24, 2013: reply to the SEBI order dated June 4, 2013.
• June 29, 2013: last date for submission of postal ballots to the scrutiniser; July 3, 2013: postal ballot result declared by the scrutiniser; July 5, 2013: newspaper advertisement about the result.
• November 12, 2013: draft offer letter submitted to BSE for in-principle approval.
• November 22, 2013: SEBI permitted Mr. Rahulinder Singh Sidhu to purchase the balance public share of 4.28% and to complete the delisting within 5 months of the order.
• March 25, 2014: in-principle approval received from BSE Limited, Ahmedabad Stock Exchange Limited and Delhi Stock Exchange Association Limited; February 11, 2014: in-principle approval from Ludhiana Stock Exchange Association Limited.
• August 14, 2014: the company states it has not received the requisite consent from shareholders.

The opening paragraph refers to acquiring 4.28% of public shareholding, while the first event in the table describes 4.98% as the total remaining public shareholding.

The penalty

SEBI's adjudication order dated April 16, 2024 imposed a penalty of Rs. 14 Lacs on the company for non-update of the quarterly reports required under Clause 19 of the June 4, 2013 order. The company states the amount was deposited.

Where the matter stands

The company states it is in the process of update an appropriate application or representation with SEBI to seek directions that would enable the promoters to carry out the necessary compliance with the minimum public shareholding norms.

What it means for a retail shareholder

• This is a periodic status disclosure on a long-running matter rather than a new event.
• Two percentages appear as the shares involved in the process: 4.28% and 4.98%.
• The delisting is described as not completed, with the company stating that the requisite consent from shareholders was not received.
• The Rs. 14 Lacs penalty for non-update of quarterly reports has been deposited, and the company's stated next step is to approach SEBI for directions.

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