GE Vernova T&D India Limited has announced the appointment of Grant Thornton Bharat LLP as its internal auditor for a three-year term. The appointment was approved by the company's board of directors during a meeting held on March 18, 2026, in compliance with Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Meeting Details

The board meeting was conducted on March 18, 2026, commencing at 4:48 P.M. (IST) and concluding at 5:32 P.M (IST). The primary agenda item was the appointment of the internal auditor, which was approved as part of the meeting proceedings.

Internal Auditor Appointment

Grant Thornton Bharat LLP, bearing firm registration number AAA7677, has been appointed as the internal auditor for financial years 2026-27 to 2028-29. The appointment is effective from March 18, 2026, providing the company with professional audit services for the specified three-year period.

About Grant Thornton Bharat LLP

Grant Thornton Bharat LLP is positioned as one of the largest fully integrated assurance, tax and advisory firms in India. The firm specializes in providing advisory and growth solutions to both Indian and global companies operating in the country.

The firm's expertise spans multiple service areas:

• Audit services
• Risk management
• Tax advisory
• Growth solutions
• Public sector consulting
• Digital technology services
• Recovery and reorganization
• Compliance management
• Outsourcing solutions

Regulatory Compliance

The appointment has been made in accordance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also referenced SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, ensuring full compliance with regulatory requirements for internal auditor appointments.

Company Secretary and Compliance Officer Shweta Mehta (Membership No. A18600) signed the official communication to the stock exchanges, confirming the board's decision and maintaining transparency with stakeholders.

GE Vernova T&D India Limited has announced a comprehensive postal ballot notice seeking shareholder approval for three significant corporate resolutions that will shape the company's leadership and business operations.

Key Resolutions for Shareholder Approval

The company has outlined three critical agenda items requiring member approval through remote e-voting:

Leadership Appointments and Tenure

Independent Director Appointment

Ms. Rashmi Joshi (DIN: 06641898) has been proposed for appointment as an Independent Director for a five-year term from March 20, 2026, to March 19, 2031. With over three decades of business-oriented finance leadership experience across Oil & Gas, Lubricants, FMCG, Consumer Durables, and Pharmaceuticals sectors, she brings extensive expertise in corporate governance and risk management.

Ms. Joshi previously served as Executive Director at Veedol Corporation Limited and Castrol India Limited, and currently holds directorships in multiple listed entities including Bharat Forge Limited, Orkla India Limited, Morganite Crucible (India) Limited, and Vesuvius India Limited.

Managing Director Re-appointment

Mr. Sandeep Zanzaria (DIN: 08905291) seeks re-appointment as Managing Director and Chief Executive Officer for a three-year term from April 17, 2026, to April 16, 2029. During his current tenure, the company has experienced significant growth in revenue, profitability, cash balance, and market capitalization.

The proposed remuneration structure includes:

Material Related Party Transactions

The company seeks approval for transactions worth up to ₹30,000 million with UK Grid Solutions Limited, a fellow subsidiary within the GE Vernova group. These transactions involve:

The transactions represent 70% of the company's annual consolidated turnover for the immediately preceding financial year and 51.1% of the related party's annual consolidated turnover. These arrangements enable the company to access international markets, optimize manufacturing capabilities, and leverage specialized GE Vernova technology and expertise.

Voting Timeline and Process

Shareholders can participate in the remote e-voting process according to the following schedule:

The postal ballot notice has been sent electronically to shareholders whose email addresses are registered with the company, depositories, or depository participants. Mr. Manish Gupta of M/s. RMG & Associates, Company Secretaries, has been appointed as the Scrutinizer to ensure fair and transparent voting.

Corporate Governance and Compliance

All proposed transactions with UK Grid Solutions Limited will be conducted at arm's length basis, in the ordinary course of business, and in the company's interest. The Audit Committee and Board of Directors approved these resolutions at their meeting held on January 28, 2026.

The company's transfer pricing policy, governed by Income Tax Act provisions and benchmarked by independent consultants, ensures compliance with OECD guidelines and maintains arm's length pricing for all related party transactions.

Resolutions passed by the requisite majority will be deemed effective from March 20, 2026, the last date specified for remote e-voting. The results will be published on the company's website and submitted to BSE Limited and National Stock Exchange of India Limited.

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