Max India's application for reclassification of Ms. Neelu Analjit Singh from the 'Promoter and Promoter Group' to 'Public' category has been rejected by both BSE and NSE.

The exchanges' decision stems from the presence of Ms. Tara Singh Vachani, Ms. Singh's daughter, on the company's board as a non-executive director.

Reclassification criteria state that a promoter seeking re-classification, or related persons, should not be represented on the board.

This outcome means Ms. Singh remains part of the promoter group.