Garodia Chemicals Ltd. has submitted a compliance certificate to the Bombay Stock Exchange (BSE) under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ending December 31, 2024. The certificate, received from MUFG Intime India Private Limited (Registrar and Transfer Agent), confirms that the company has adhered to the required regulatory norms related to the dematerialization of securities.

Details of the Compliance Submission

The company confirms that it has complied with all obligations outlined in Regulation 74(5) of SEBI regulations, which covers the handling and dematerialization of securities. The submission includes the following confirmations:

1. Dematerialization of Securities:
   The company received securities from depository participants for dematerialization. These securities were verified and either accepted or rejected by the depositories as per the regulations.

2. Listing of Securities:
   The securities confirmed as dematerialized were listed on the stock exchanges where the earlier issued securities are traded. This step ensures that the securities are in compliance with the listing requirements.

3. Mutilation and Cancellation of Certificates:
   After verifying the dematerialization of securities, the physical certificates were duly mutilated and cancelled as per regulatory guidelines. The name of the depository was substituted in the company's register of members, marking the depository as the registered owner of the securities. This was done within the prescribed timeline.

About the Compliance Certificate and its Importance

The submission of this compliance certificate is a statutory requirement for Garodia Chemicals Ltd. to ensure transparency and regulatory compliance in the handling of securities. It assures that the company has followed all the prescribed steps in the dematerialization process, which includes the proper handling and verification of security certificates.

This compliance ensures that there are no discrepancies in the securities' records and that the transfer of ownership from physical certificates to dematerialized securities has been properly recorded and updated. The process is crucial for ensuring liquidity and efficiency in securities trading, as well as maintaining compliance with stock exchange and SEBI regulations.

Regulatory Authorities Involved

The certificate was sent to the Bombay Stock Exchange (BSE), and it was also copied to the National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL), which are the depositories responsible for the custody and settlement of dematerialized securities.

Additionally, MUFG Intime India Pvt. Ltd. (formerly Link Intime India Pvt. Ltd.) confirmed that the necessary steps, including dematerialization and cancellation of certificates, were completed accurately.

Conclusion

The submission of the compliance certificate ensures that Garodia Chemicals Ltd. has met its regulatory obligations under the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ending December 31, 2024. This process also strengthens the company’s commitment to transparency and compliance with the financial regulatory framework.

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