CL Educate Limited has addressed a query from BSE Limited raised on December 26, 2024, regarding a discrepancy in the timing of its disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The query pertained to the delay in announcing the appointments of Mr. Alok Mehta and Mr. Amit Jain to senior management positions, which did not meet the required 12-hour disclosure timeline as per the SEBI circular dated July 13, 2023.

Clarification on Delayed Disclosure
The delay in disclosure, as explained by the company, was purely inadvertent and unintentional, stemming from internal communication challenges due to exceptional circumstances that were beyond the company's control. The company acknowledged the delay and clarified that it remained committed to adhering to all regulatory timelines in the future. CL Educate emphasized that the delay was not intentional but resulted from an internal process delay that was unanticipated and outside the organization’s normal operations.

Key Points of the Disclosures

The company disclosed two significant appointments as part of its senior management changes:

1. Mr. Alok Mehta, appointed as the President of CHEX (Centre of Higher Education Transformation) & Placements and Group CHRO (Chief Human Resource Officer), effective December 9, 2024. This appointment was in line with the company's Succession Policy and aligned with senior leadership strategy.

2. Mr. Amit Jain, appointed as the Chief Business Officer of Kestone Utsav Private Limited, a wholly-owned subsidiary of the company, effective December 23, 2024. This appointment was voluntarily disclosed by the company as a good corporate governance measure, despite it not being a mandatory requirement for a subsidiary-level appointment.

Commitment to Corporate Governance
Despite the delayed disclosure, CL Educate reiterated its commitment to maintaining high standards of corporate governance and compliance with all SEBI regulations. The company has emphasized that it has always adhered to the timelines and compliance procedures in the spirit of regulatory frameworks and has taken steps to ensure that such delays will not occur in the future.

Further Details

Both appointments were disclosed with detailed profiles of the appointees, including their professional experience, leadership roles, and academic qualifications, as required under SEBI Circular No. SEBVHO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The information was made available in Annexure-A and B, which outlined the reason for change, effective dates, and a brief profile of both individuals. These profiles are also hosted on the company’s official website.

Assurances Moving Forward

CL Educate assured its investors, stakeholders, and regulators that it would continue to strive for timely and accurate disclosure of all material events and regulatory requirements in line with SEBI (LODR). The company is confident that this isolated incident will not hinder its compliance in the future and has taken appropriate steps to improve its internal communication and disclosure processes.

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