Sumeet Industries Limited has submitted an application to the stock exchanges (BSE and NSE) for the re-classification of its erstwhile promoter and promoter group from the "Promoter and Promoter Group" category to the "Public" category. This application is made in accordance with Regulation 31A(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The re-classification is pursuant to a Resolution Plan approved under Section 31 of the Insolvency Code, 2016, by the National Company Law Tribunal (NCLT).

The list of erstwhile promoters seeking this re-classification includes individuals such as Shankarlal Sitaram Somani, Gangadevi Shankarlal Somani, Sumandei Somani, Sushil Shankarlal Somani, Sumeet Shankarlal Somani, Neelam Sushil Somani, Manisha Sumeet Somani, Rajkumar Sitaram Somani, Rakesh Rajkumar Somani, Ritesh Rajkumar Somani, and entities including Siddhipriya Poly Fab Private Limited, Sitaram Prints Private Limited, Somani Overseas Private Limited, Betex India Limited, National Poly Yarn Pvt Ltd, and Ambaji Syntex Pvt Ltd. All listed entities currently hold Nil shares and Nil percentage of holding, indicating no current stake in the company.