Board authorises MD and Company Secretary to determine materiality of disclosures under Reg 30(5)
Board has authorised two KMPs — Managing Director Rahat Ali Saiyed and Company Secretary Ritu Jain — to decide whether an event is material and to make disclosures to stock exchanges under Regulation 30(5).
- Authorised KMP (Materiality)
- Rahat Ali Saiyed, Managing Director
- Authorised KMP (Materiality)
- Ritu Jain, Company Secretary cum Compliance Officer
- Regulation Cited
- Regulation 30(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Scope of Authorisation
- determine the materiality of an event or information and make the related disclosures to stock exchanges
What the update says
- The board of directors has authorised two Key Managerial Personnel to determine the materiality of an event or information and to make the related disclosures to stock exchanges under Regulation 30(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- Rahat Ali Saiyed, Managing Director, is one of the two authorised persons.
- Ritu Jain, Company Secretary cum Compliance Officer, is the other.
- The contact details of both authorised persons are given in the letter, and the company states that the same details are also available on its website.
Reading this in plain terms
Regulation 30(5) asks a listed company's board to name the officials who will judge whether a development is material — important enough that shareholders need to be informed — and who will pass that information on to the stock exchange. This update is the company stating who those people are.
What it means for an investor
- This is a disclosure about who is responsible inside the company for deciding materiality and for making exchange disclosures.
- It is an authorisation of named officials, not an announcement about the company's orders, earnings, borrowings or shareholding.
- Practically, the two named officials are the ones through whom material information from the company is routed to the exchanges and, in turn, to shareholders.
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.