Automotive stampings & assemblies has successfully completed its postal ballot process for the re-appointment of an Independent Director, with shareholders demonstrating strong support for the resolution. The company announced the outcome on March 20, 2026, following the completion of the e-voting period through its official filing to BSE and NSE under Regulation 44.

Postal Ballot Resolution Details

The postal ballot focused on a single special resolution regarding the re-appointment of Mr. Prakash Gurav (DIN: 02004317) as Non-Executive Independent Director. The resolution covers his second consecutive term, commencing from April 05, 2026 and continuing until he attains the age of 75 years, specifically up to December 28, 2028.

Voting Results and Shareholder Participation

The postal ballot received overwhelming shareholder support across all categories:

The voting process achieved a participation rate of 75.14% of outstanding shares, with 87 members participating in the e-voting process. A total of 82 members voted in favour while only 5 members voted against the resolution.

E-Voting Process and Timeline

The company conducted the postal ballot exclusively through electronic voting, utilizing the services of Central Depository Services Limited (CDSL). The e-voting period commenced on Wednesday, February 18, 2026 at 9:00 a.m. IST and concluded on Thursday, March 19, 2026 at 5:00 p.m. IST.

The postal ballot notice dated January 28, 2026 was dispatched to shareholders on February 17, 2026, sent exclusively through email to members whose email addresses were available with the company or depositories. Additionally, a newspaper advertisement was published on February 18, 2026 to provide voting information to all shareholders.

Scrutinizer Report and Compliance

CS Sridhar Mudaliar, Partner of SVD & Associates, served as the scrutinizer for the postal ballot process. The scrutinizer's report confirmed full compliance with:

• Section 110 of the Companies Act, 2013
• Companies (Management and Administration) Rules, 2014
• Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Various MCA circulars and SEBI master circulars
• Secretarial Standards-2 issued by ICSI

The votes were unblocked at 5:07 p.m. on March 19, 2026 in the presence of two independent witnesses, and the results were downloaded from CDSL's e-voting platform.

Corporate Governance Impact

The successful re-appointment of Mr. Prakash Gurav ensures continuity in the company's independent director position, supporting strong corporate governance practices. The overwhelming shareholder approval reflects confidence in the director's contribution to the board's effectiveness and the company's strategic direction.

Automotive Stampings and Assemblies Limited has formally responded to regulatory fines imposed by both the National Stock Exchange of India Limited and BSE Limited for non-compliance with SEBI listing regulations. The company's Board of Directors addressed the matter in their meeting held on March 13, 2026, providing detailed explanations for the compliance breach and outlining corrective measures.

Regulatory Non-Compliance Details

The exchanges identified non-compliance with Regulation 6(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ended December 31, 2025. This regulation mandates the appointment of a qualified Company Secretary as Compliance Officer.

Board's Response and Justification

The Board, in its meeting on March 13, 2026, took note of the notices dated February 20, 2026 and March 09, 2026 received from both exchanges. The company clarified that the non-compliance occurred due to practical constraints rather than deliberate oversight.

Key Points from Board Comments:

• The company had taken immediate steps to find a suitable candidate with adequate experience
• The selected candidate faced difficulty committing to a joining date due to mandatory notice period requirements from their previous employer
• The non-compliance was neither deliberate nor intentional
• The delay occurred solely due to time required to select and onboard an appropriate candidate

Corrective Actions Implemented

The company has taken several measures to address the compliance breach and prevent future occurrences:

Exchange Communications Timeline

The regulatory action followed a structured timeline as per SEBI's Standard Operating Procedure:

Initial Notices (February 20, 2026):

• NSE issued notice NSE/LIST-SOP/COMB/FINES/0179
• BSE issued notice SOP-CReview/QTR-Dec-25
• Both exchanges provided 15-day compliance window

Reminder Notices (March 09, 2026):

• NSE issued final reminder NSE/LIST-SOP/COMB/FINES/0179
• BSE issued reminder SOP-Reminder/QTR December 2025
• Warnings about potential promoter shareholding freeze

Future Compliance Commitment

The Board has expressed strong commitment to regulatory adherence going forward. The company has advised management to strengthen internal monitoring mechanisms to avoid recurrence of such instances. This demonstrates the organization's dedication to maintaining strict compliance with all applicable provisions of the Listing Regulations.

The resolution of this matter through prompt appointment of qualified personnel and payment of prescribed fines reflects the company's proactive approach to regulatory compliance, despite the initial delay caused by practical hiring constraints.

Source: None/Company/INE900C01027/860cfa93-863b-42ed-b846-608045a09448.pdf