Usha Martin has received a cautionary letter from the exchange regarding its shareholding pattern for the quarter ended March 31, 2025. The letter pertains to the addition of an immediate relative of a promoter to the promoter group due to equity share acquisition. The company has been advised to exercise caution and due diligence in future filings to ensure compliance.
Cautionary Letter Received
Usha Martin has been issued a cautionary letter concerning the shareholding pattern submitted for the quarter ending March 31, 2025. The exchange issued the letter after a query regarding a change in the number of promoters compared to the previous reporting period.
Details of the Issue
The issue arose from the acquisition of equity shares by an immediate relative of a promoter, leading to their inclusion in the promoter group. The company clarified this change to the exchange. The cautionary letter advises the company to be more cautious in future filings to avoid similar issues.
Company Response and Future Actions
Usha Martin has already responded to the cautionary letter through the exchange’s listing portal. The company has been advised to exercise due diligence and take corrective steps to prevent recurrence of similar lapses, ensuring compliance with applicable regulations in future filings.
Source: BSE
