On April 14, 2025, Shanti Overseas (India) Limited issued a clarification letter to the National Stock Exchange of India Limited (NSE) regarding a clerical and typographical error in its earlier regulatory filing dated March 24, 2025. This filing was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, pertaining to the Board Meeting held on March 22, 2025.

The company, listed with NSE under the symbol SHANTI, clarified that Point No. 6 of the disclosure contained a mistake in the description of the transaction involving Optionally Convertible Debentures (OCDs) and M/s Shaan Agro Oils & Extractions Private Limited, a wholly owned subsidiary.

Nature of the Correction

Original Disclosure (Erroneous):

“Pursuant to resolution passed in the Board Meeting held on 2nd September, 2024, the Company has now issued Optionally Convertible Debentures against conversion of Loans and Debtors Outstanding Balance of M/s Shaan Agro Oils & Extractions Private Limited amounting to Rs. 3 crores.”

Corrected Version (As per April 14, 2025 Letter):

“Investment in Wholly Owned Subsidiary of the Company i.e. M/s Shaan Agro Oils & Extractions Private Limited by Subscription of Optionally Convertible Debentures up to Rs. 3 crores by converting loans and Debtors Outstanding Balance held with the Company.”

This correction changes the context of the transaction, clearly identifying the issuance as an investment by Shanti Overseas in its wholly owned subsidiary, rather than vice versa.

Reason for Clarification

The error was unintentional and classified as a clerical/typographical mistake. The company emphasized that no other part of the original disclosure has changed and that the corrected version should be treated as final and binding.

Statement from Shanti Overseas

Mr. Manish Harishankar Dubey, Managing Director (DIN: 09582612), signed the letter and expressed regret over the oversight. The company formally requested that the corrected disclosure be taken on record by the NSE and stakeholders.

About the Investment

The company has subscribed to Optionally Convertible Debentures (OCDs) worth up to ₹3 crores in its wholly owned subsidiary, M/s Shaan Agro Oils & Extractions Private Limited. This investment was structured through the conversion of loans and debtor balances previously outstanding with the subsidiary.

This financial move is a part of the group’s internal restructuring and strategic investment planning to strengthen its subsidiary operations and consolidate its holdings.

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