Loyal Textile Mills: Promoter seeks reclassification

Loyal Textile Mills Ltd has received a request letter from its promoter, Palaniappan Manivannan, seeking reclassification from the Promoter Category to the Public Category. The promoter previously held 2 shares and sold them for ₹411. He has declared that he does not exercise any control over the company's management or affairs, holds no special rights, is not represented on the Board, and is not a willful defaulter or fugitive economic offender. The company will consider this request in its upcoming Board Meeting scheduled for November 12, 2026, and will disseminate the decision thereafter.