Regulatory10 April 2026 at 06:02 am
Mahalaxmi Seamless: SEBI Reg 32 on Fund Deviation Not Applicable
AI Summary
Mahalaxmi Seamless Ltd has informed the stock exchange that the Statement of Deviation or Variation of Funds under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is not applicable to the company. This regulation specifically covers proceeds from public issues, rights issues, preferential issues, or Qualified Institutional Placements (QIPs). The company clarified that this non-applicability is for the financial year ended March 31, 2026, serving as a routine compliance update for information and record purposes.
Key Highlights
- Mahalaxmi Seamless confirms SEBI Reg 32 on fund deviation is not applicable.
- Regulation 32 covers proceeds from public, rights, preferential issues, and QIPs.
- Non-applicability is specifically for the financial year ending March 31, 2026.
- The company has no fund-raising activities requiring this specific disclosure.