Ceigall India accepts resignation of VP Akshay Jain

Ceigall India has accepted the resignation of Akshay Jain from the position of Vice President (Strategy & Planning) effective July 31, 2026. The company disclosed that the resignation, due to personal reasons, was submitted via a letter dated July 16, 2026, and will be effective from the close of business hours on the specified date.

The intimation was made pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing included the necessary details as required under SEBI circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Resignation Details

The following table outlines the key particulars of the change in senior management personnel:

Sr. No.	Particulars	Details
1.	Reason for change	Resignation of Mr. Akshay Jain as Vice President (Strategy & Planning) and Senior Management Personnel
2.	Date of cessation	With effect from the closure of business hours of July 31, 2026.
3.	Brief profile	Not applicable
4.	Disclosure of relationships	Not applicable

The resignation letter and regulatory details were submitted as Annexure I and Annexure II to the stock exchanges. The information has also been made available on the company's website.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.38%	-7.54%	-10.38%	+21.18%	+24.32%	-12.95%

Ceigall India has approved a further investment of ₹109.19 crore in its wholly owned subsidiary, Velgaon Power Transmission Ltd. The company also sanctioned the creation of security for a term loan facility to finance the 400/220 kV Velgaon Substation project. These decisions were taken by the Management Committee of the Board of Directors on July 09, 2026.

Key Corporate Developments

The following table summarizes the key details of the announcements made by Ceigall India:

Parameter	Details
Investment Amount	₹109.19 crore
Investee Company	Velgaon Power Transmission Ltd
Purpose	Equity, unsecured loan, or other instruments
Additional Action	Security set up for term loan
Project	Establishment of 400/220 kV Velgaon Substation (GIS)

Investment and Security Arrangements

The Management Committee of Ceigall India has sanctioned the infusion of ₹109.19 crore into the project special purpose vehicle (SPV) by way of equity shares, unsecured loan, or such other instruments as per fund requirements. Alongside this capital commitment, the company has also undertaken the necessary steps to create security for a Rupee Term Loan facility sanctioned to Velgaon Power Transmission Ltd. The acquisition will be in tranches as per the fund requirements of the project.

Project Background

Ceigall India was identified as the Selected Bidder via a Letter of Intent dated November 23, 2025, for the project "Establishment of 400/220 kV Velgaon Substation (GIS) through Tariff based Competitive Bidding (TBCB) Process." As a condition of the Request for Proposal (RFP), a Share Purchase Agreement was executed on January 09, 2026, between REC Power Development and Consultancy Limited and Ceigall India, making Velgaon Power Transmission Ltd a 100% subsidiary of the company. The SPV is yet to commence its operations.