Maithan Alloys: NSE Rejects Promoter Reclassification Application

Maithan Alloys Ltd has been informed by the National Stock Exchange (NSE) that their application for re-classification of certain promoters, including Mr. Prahlad Rai Agarwalla and others, from 'Promoter & Promoter Group' to 'Public' category has been rejected. The NSE cited unaddressed queries and prolonged non-response from the company as reasons for not considering the application under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company may submit a fresh application with complete documentation if they wish to pursue this matter further.