On 21st April 2025, Neelkanth Rock-Minerals Limited, a company registered under CIN: L14219RJ1988PLC062162, formally notified the Bombay Stock Exchange (BSE Limited) that it does not qualify as a “Large Corporate (LC)” under the criteria defined in SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated 26th November 2018. The circular pertains to fund raising by issuance of debt securities by large entities, a compliance requirement under the Securities and Exchange Board of India (SEBI) regulatory framework.

Background of SEBI Circular

The SEBI circular issued in November 2018 introduced a set of obligations for listed entities that are classified as "large corporates" based on specific thresholds related to outstanding borrowings and net worth. These obligations include:

• Identifying themselves as Large Corporates.

• Disclosures regarding incremental borrowing.

• Annual filing of confirmation by such entities.

To be classified as a Large Corporate, a company must meet both of the following conditions:

1. It has an outstanding borrowing of ₹100 crore or more, where the borrowings are classified as long-term borrowings.

2. It has a credit rating of "AA and above" and is listed on a stock exchange.

Neelkanth Rock-Minerals Ltd’s Declaration

In its formal submission to the BSE, Neelkanth Rock-Minerals Limited clearly stated that it does not meet the criteria laid out in the SEBI circular and hence is not obligated to comply with the related disclosure requirements for large corporates.

This declaration was signed by Mr. Noratmal Kawar, the Managing Director of the company, bearing DIN: 00464435. The company emphasized that the declaration is in line with SEBI's transparency mandates and is intended to maintain compliance with regulatory expectations, particularly under the Listing and Disclosure Requirements (LODR) Regulations.

Regulatory Importance

Such disclosures are critical from a governance and investor transparency perspective. By affirming its status as a non-large corporate, Neelkanth Rock-Minerals Limited has fulfilled an important compliance obligation which helps in:

• Avoiding unnecessary regulatory scrutiny.

• Ensuring accurate reporting status with stock exchanges.

• Promoting confidence among investors regarding the company’s transparency and adherence to rules.

Company Profile

Neelkanth Rock-Minerals Limited is based in Jodhpur, Rajasthan, with its registered office located at Flat No. 606, Scheme Chopasani Jagir, and operates primarily in the mining and minerals industry. The company maintains direct communication with stakeholders via its official email: info@neelrock.com and can also be reached via telephone at +0291-2631839.

Conclusion

By formally communicating its non-large corporate status to the BSE, Neelkanth Rock-Minerals Ltd has not only adhered to SEBI's circular but also reinforced its commitment to regulatory compliance and good corporate governance practices. The declaration ensures clarity for stakeholders, regulatory bodies, and market participants and avoids the imposition of additional compliance obligations that are only applicable to large corporate entities under the SEBI framework.

This proactive disclosure aligns with the evolving landscape of regulatory reporting in India and exemplifies the company’s dedication to maintaining transparent financial communication with the markets.

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