Borosil Limited has confirmed its adherence to Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018, for the quarter ended June 30, 2025. This confirmation, issued by the company's Registrar and Transfer Agent (RTA), MUFG Intime India Private Limited, ensures the proper and timely handling of dematerialised securities, reinforcing the company's commitment to regulatory compliance and investor protection.
Compliance Certificate Details| Particulars | Details |
|---|
| Regulation | Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 |
| Period Covered | Quarter ended June 30, 2025 |
| Issuing Authority | MUFG Intime India Private Limited (RTA) |
| Date of Certificate | July 04, 2025 |
| Company Filing Date | July 07, 2025 |
Compliance Details
The certificate, dated July 04, 2025, and subsequently submitted by Borosil Limited on July 07, 2025, attests to several critical aspects of securities management. MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited, confirmed that all securities received from depository participants for dematerialisation during the quarter ended June 30, 2025, were duly processed. This processing included both acceptance and rejection, with timely communication to the respective depositories. Furthermore, the RTA verified that the securities comprised in the said certificates have been successfully listed on the stock exchanges where the company's previously issued securities are already listed. This ensures that the newly dematerialised shares are fully integrated into the trading ecosystem, providing liquidity and ease of transaction for investors. A crucial part of this process involves the physical security certificates received for dematerialisation being meticulously mutilated and cancelled after thorough verification by the depository participant. Following this, the names of the depositories are substituted in the company's register of members as the registered owner, all within the prescribed regulatory timelines. This meticulous process safeguards against any potential misuse of physical certificates and ensures an accurate and updated record of share ownership.
Regulatory Framework
Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018, is a cornerstone of investor protection and market integrity in India's securities market. This regulation mandates that every issuer company, through its RTA, must confirm the dematerialisation of securities received from depository participants. The primary objective is to ensure that the process of converting physical shares into electronic form is conducted efficiently, securely, and transparently. It requires RTAs to confirm the receipt, acceptance, or rejection of securities, ensure their listing on stock exchanges, and verify the cancellation of physical certificates. This regulatory oversight is vital for maintaining the accuracy of the electronic shareholding records and preventing fraudulent activities. By adhering to this regulation, Borosil Limited demonstrates its commitment to upholding the highest standards of corporate governance and investor trust.
Process Overview
The dematerialisation process, as confirmed by MUFG Intime India Private Limited, involves several key steps. When an investor submits physical share certificates to their depository participant (DP) for dematerialisation, the DP forwards these certificates to the company's RTA. The RTA, in this case, MUFG Intime India Private Limited, then verifies the authenticity and validity of these certificates. Upon successful verification, the RTA confirms the dematerialisation request to the depositories (such as NSDL and CDSL), leading to the electronic credit of shares to the investor's demat account. Concurrently, the physical certificates are marked as 'mutilated and cancelled' to prevent their re-use, and the company's register of members is updated to reflect the change in ownership from the individual shareholder to the depository. This streamlined process, governed by SEBI regulations, ensures a secure and efficient transition from physical to electronic shareholding.
Company's Commitment
Borosil Limited, with its registered and corporate office in Mumbai, consistently prioritises compliance with all applicable laws and regulations. The timely submission of this certificate, signed by Suresh Savaliya, Company Secretary & Compliance Officer (ACS15545), underscores the company's robust internal controls and governance practices. Such routine compliance filings are essential for maintaining transparency and building confidence among shareholders and the broader market. The company's proactive approach in ensuring that its RTA, MUFG Intime India Private Limited, adheres to the prescribed timelines and procedures for dematerialisation reflects its dedication to operational excellence and investor service.
Market Context
While a routine compliance filing, the confirmation under Regulation 74(5) is a fundamental aspect of the operational backbone of the Indian securities market. It assures investors that the process of converting physical shares into electronic form is robust and reliable. For a company like Borosil Limited, which is listed on both BSE (Scrip Code: 543212) and NSE (Symbol: BOROLTD), consistent adherence to such regulations is crucial for maintaining its standing and reputation in the capital markets. It signifies that the company's share registry is well-managed and that investor holdings are accurately recorded and protected within the dematerialised framework. This contributes to the overall stability and efficiency of trading in the company's shares.
