Reg 23(9) related party transaction disclosures not applicable for half year ended September 30, 2026

The company has told BSE that the related party transaction disclosure requirement under Regulation 23(9) of SEBI (LODR) Regulations, 2015 does not apply to it for the half year ended September 30, 2026.

Sat 10 Oct 2026

Paid-up equity capital

4,92,35,750 (FY 2023-24, FY 2024-25 and FY 2025-26)

Net worth FY 2025-26

-37,88,179.00

Accumulated losses FY 2025-26

10,99,66,929.00

The company has written to BSE stating that the related party transaction disclosure requirement under Regulation 23(9) of the SEBI (LODR) Regulations, 2015 does not apply to it for the half year ended September 30, 2026.

Why the company says the rule does not apply

• Under Regulation 15(2)(b), as amended with effect from March 27, 2025, the related party transaction provisions in Regulation 23 do not apply to a listed entity whose specified securities are listed on BSE and which has neither paid-up equity share capital exceeding Rupees ten crore nor net worth exceeding Rupees twenty-five crore, as on the last day of the previous financial year.
• The company states that it meets these conditions and is therefore not required to submit related party transaction disclosures for the half year.

The numbers behind it

• A net worth certificate from a chartered accountant is enclosed with the letter and covers three financial years.
• Paid-up equity capital is 4,92,35,750 in each of FY 2023-24, FY 2024-25 and FY 2025-26.
• Net worth is -5,79,835.43 for FY 2023-24, -20,85,279.87 for FY 2024-25 and -37,88,179.00 for FY 2025-26.
• Security premium is 5,69,43,000.00 in each of the three years.
• Accumulated losses are 10,67,58,585.43 in FY 2023-24, 10,82,64,029.87 in FY 2024-25 and 10,99,66,929.00 in FY 2025-26.

What it means for an investor

• This is an intimation about a disclosure requirement, not about any transaction, order or business development.
• Because the company states it is below the paid-up capital and net worth thresholds, related party transaction disclosures for the half year will not be shared with the exchange under Regulation 23(9).
• The attached certificate places paid-up equity capital at 4,92,35,750, against the threshold of Rupees ten crore, and net worth at -37,88,179.00 for FY 2025-26, against the threshold of Rupees twenty-five crore.
• The certificate also shows net worth moving from -5,79,835.43 to -20,85,279.87 to -37,88,179.00 across the three years, alongside rising accumulated losses over the same period.

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