Garware Synthetics Limited, a company listed on the Bombay Stock Exchange (BSE) and Calcutta Stock Exchange (CSE), has formally announced its regulatory compliance for the quarter ended 30 June 2025 by submitting the Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018.

This submission represents a mandatory disclosure to the stock exchanges, demonstrating the company's adherence to SEBI’s stringent compliance framework aimed at ensuring transparency, investor protection, and orderly functioning of the capital markets.

What is SEBI Regulation 74(5)?
Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 mandates that every issuer or its Registrar and Transfer Agent (RTA) must certify to the stock exchanges that all securities received for dematerialisation have been processed correctly.

This means:

• Securities submitted for dematerialisation were accepted or rejected properly.

• Physical certificates were mutilated and cancelled after due verification.

• The name of the depositories has been substituted in the register of members as the registered owner within the prescribed timelines.

Such rigorous rules ensure that investors who choose dematerialisation—converting physical shares to electronic form—can do so safely, and that fraudulent reuse of physical certificates is prevented.

Disclosure by Garware Synthetics
The company’s official communication, dated 05 July 2025, was addressed to both:

• Bombay Stock Exchange Limited (BSE) in Mumbai.

• Calcutta Stock Exchange Association Limited (CSE) in Kolkata.

The letter bore the subject:

Submission of Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the Quarter ended 30th June, 2025

Signed by Deepak Kamble, Executive Director (DIN: 09718203), the letter formally informed the exchanges of the attached certificate received from their RTA.

Registrar and Transfer Agent’s (RTA) Role
Garware Synthetics' RTA is MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited.

The RTA acts as the key intermediary between the company, the stock exchanges, and the depositories (NSDL, CDSL). Its job includes:

• Receiving dematerialisation requests from depository participants.

• Verifying certificates for authenticity.

• Approving or rejecting demat requests.

• Cancelling physical certificates post-approval.

• Updating the company’s register of members.

MUFG Intime India Private Limited confirmed these tasks were completed accurately and on time.

Content of the RTA’s Certificate
The attached certificate, dated 04 July 2025, was issued by Ashok Shetty, Vice President—Corporate Registry at MUFG Intime India Pvt. Ltd.

Key confirmations in the certificate included:

• All securities received for dematerialisation during the April–June 2025 quarter were duly verified.

• Securities were accepted or rejected to the depositories based on verification.

• Certificates were mutilated and cancelled to avoid any reuse.

• Names of the depositories (NSDL or CDSL) were substituted in the register of members as the registered owners, ensuring proper recording.

• All activities were completed within the prescribed timelines under SEBI regulations.

This certificate is compulsory evidence of compliance that listed companies must file every quarter with the stock exchanges.

Importance of Regulation 74(5) Compliance
Regulation 74(5) ensures safe, secure, and transparent dematerialisation of shares in India’s capital markets.

Without such compliance:

• Fraudulent circulation of physical certificates could occur.

• Investor confidence would weaken.

• Market transparency would suffer.

By verifying and cancelling physical certificates, the system prevents duplicate claims or forged share transfers.

Garware Synthetics’ adherence to this regulation demonstrates its commitment to corporate governance and investor protection.

SEBI’s Regulatory Oversight
SEBI (the Securities and Exchange Board of India) has introduced such regulations to modernise India’s stock markets.

• Before dematerialisation, share certificates were vulnerable to loss, theft, forgery.

• Demat systems introduced efficiency, security, and transparency.

• Regulations like 74(5) ensure clean demat processes by mandating cancellation of physical certificates.

SEBI also requires quarterly certifications to maintain consistent monitoring, making it impossible for companies or intermediaries to skip compliance.

Corporate Governance Impact
By disclosing this certification publicly to BSE and CSE, Garware Synthetics signals:

• Transparency about its share transfer processes.

• Accountability to regulators and investors.

• Commitment to preventing fraud or malpractice.

This helps build investor trust, especially in a market where governance lapses can damage reputations and share prices.

MUFG Intime India Private Limited’s Role as RTA
The company’s RTA, MUFG Intime India Private Limited, is a leading SEBI-registered Registrar and Transfer Agent.

Formerly known as Link Intime India Private Limited, it handles RTA operations for many listed companies in India.

Their responsibilities include:

• Maintaining accurate records of shareholdings.

• Processing transfers, transmissions, dematerialisation, rematerialisation.

• Handling investor queries.

• Ensuring all compliance filings are done correctly.

Their expertise ensures companies like Garware Synthetics meet SEBI’s strict standards.

Details of the RTA Certificate Issued
The RTA’s certificate includes these important details:

• Date: 04 July 2025.

• Confirmation that dematerialisation requests were processed for the quarter ended 30 June 2025.

• That accepted/rejected instructions were sent to NSDL or CDSL.

• Physical certificates were mutilated and cancelled post-verification.

• Register of Members was updated with the names of the depositories as owners.

This standardised language ensures regulatory uniformity across companies.

Company’s Filing Process with Exchanges
Garware Synthetics submitted this disclosure simultaneously to:

• Bombay Stock Exchange Limited (BSE) at Dalal Street, Mumbai.

• Calcutta Stock Exchange Association Limited (CSE) at Lyons Range, Kolkata.

This dual filing ensures regional and national investors can access the compliance information.

Details of Garware Synthetics Limited’s Letter

• Dated: 05 July 2025.

• Signed by: Deepak Kamble, Executive Director (DIN: 09718203).

• Subject: Clear reference to SEBI’s 74(5) regulation and the quarter.

• Attachment: The official RTA-issued certificate.

This letter follows SEBI-prescribed formats for such filings.

MUFG Intime India Private Limited’s Corporate Identity

• CIN: U67190MH1999PTC118368.

• Registered Office: C-101, Embassy 247, L.B.S. Marg, Vikhroli (West), Mumbai - 400083.

• Website: www.in.mpms.mufg.com.

This clarity ensures investors can independently verify the RTA’s credentials.

Investor Takeaways
For investors in Garware Synthetics:

• The filing is routine but critical, ensuring shares held in demat form are safe.

• Confirms the company’s operational integrity and regulatory compliance.

• No red flags; this is a standard SEBI requirement met correctly.

Conclusion
Garware Synthetics Limited’s submission of its Regulation 74(5) Certificate for the quarter ending 30 June 2025 reflects its commitment to robust corporate governance and SEBI compliance.

By working with its RTA, MUFG Intime India Private Limited, the company ensures all dematerialisation requests are processed correctly, physical shares are cancelled, and the depository’s name is properly recorded.

Such transparency and compliance are vital in maintaining investor confidence and the smooth functioning of India’s capital markets.

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