Hindcon Chemicals Ltd., a well-established company in the chemical industry, has submitted a compliance certificate as per Section 74(3) of the SEBI (Depositories and Participants) Regulations, 2018. This certificate pertains to the period from October 1, 2024 to December 31, 2024, confirming that all share certificates received for dematerialization during this period were processed and successfully updated in the depository's records.

Overview of the Compliance Process

As per the SEBI regulations, companies are required to ensure that share certificates submitted for dematerialization are cancelled and mutilated once they are confirmed by the depositories. Hindcon Chemicals Ltd., through its Registrar and Transfer Agent (RTA), Niche Technologies Pvt. Ltd., has confirmed that all such processes were conducted meticulously.

The certificate of compliance details that all physical share certificates received for dematerialization during the specified period have been cancelled and mutilated. This step ensures that the dematerialized shares are now fully recorded in the depository system, with the depository now being listed as the registered owner in the company’s shareholder records.

Significance of Dematerialization

Dematerialization of shares is a critical process that allows shareholders to hold and transfer shares electronically, without the need for physical certificates. This process enhances security, efficiency, and transparency in the stock market by reducing the risks associated with physical share certificates, such as loss, theft, or forgery.

Hindcon Chemicals Ltd. has adhered to these processes as part of its commitment to investor protection and compliance with the regulatory framework set forth by SEBI. The company's RTA, Niche Technologies Pvt. Ltd., plays a crucial role in facilitating this process by ensuring that all dematerialized shares are properly recorded and managed.

Future Outlook and Compliance

With the completion of this compliance report, Hindcon Chemicals Ltd. continues to maintain its commitment to corporate governance and regulatory adherence. By successfully handling the dematerialization of shares and ensuring the accuracy of shareholder records, the company reinforces its dedication to offering secure and efficient services to its investors.

Investors can be assured that Hindcon Chemicals Ltd. is working diligently to streamline the investment process by aligning with the highest standards of SEBI compliance and ensuring smooth and safe transactions in the stock market.

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