Sad demise of Founder & Chairman; he would cease to be part of promoter / promoter group
The Company has informed the exchanges of the sad demise of Shri Bhawani Shankar Sharma Ji, its Founder and Chairman, on Friday, October 09, 2026.
- Date of Demise
- Friday, October 09, 2026
- Promoter Group Cessation Regulation
- Regulation 31A(6)(c) of the SEBI LODR Regulations, 2015
- Update Regulation
- Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
What the Company has informed
The Company has intimated BSE Limited and the National Stock Exchange of India Limited about the sad demise of Shri Bhawani Shankar Sharma Ji, its Founder and Chairman, who departed on Friday, October 09, 2026. The intimation was shared under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the letter to the exchanges is dated October 09, 2026.
His role at the Company
The update states that Shri Sharma Ji was the guiding force behind the Company's journey and growth. Through his vision, wisdom and unwavering commitment, he laid a strong foundation for the Company and inspired generations through his exemplary leadership and values. The Company has said that his contribution to the Company and to the lives of those associated with him will always be remembered with deep respect and gratitude, that it shall always remain indebted to his invaluable contributions, and that it will cherish his legacy with utmost respect and gratitude.
Change in promoter / promoter group
The update also informs that he would cease to be part of the promoter / promoter group of the Company, in accordance with Regulation 31A(6)(c) of the SEBI LODR Regulations, 2015.
What this means in simple terms
- The Company has formally told the exchanges about the passing of its Founder and Chairman.
- "Promoter / promoter group" is the shareholder category that typically holds the founding or controlling stake in a listed company. The update states that, with his demise, he would cease to be part of this category.
- A change in who is counted in the promoter / promoter group is a structural change in the shareholding classification that exchanges and investors track.
- This is an intimation of an event and of a resulting change in promoter / promoter group status. It is not an announcement of a business decision such as a new order, expansion or fund raising.
How a retail investor may read it
The passing of a founder-chairman is a leadership development. Alongside the human and emotional aspect that the update itself focuses on, it marks a change at the top of the Company and a change in the composition of the promoter / promoter group. These are the two things investors generally track from an announcement of this nature.
The letter is signed by the Company's Chief Financial Officer.
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.