Landmark Cars shareholders approved the appointment of Rita Teatia as an Independent Director and re-appointed Manish Chokhani and Gautam Trivedi for second terms at the Annual General Meeting held on September 24, 2026.

The approvals were confirmed following the Scrutinizer’s Report dated September 25, 2026. The move strengthens the company’s governance framework by introducing a former senior bureaucrat to the board while retaining experienced financial and capital markets professionals.

Governance changes and tenures

The shareholders ratified three key appointments under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The terms for each director vary, reflecting different strategic needs for continuity and fresh expertise.

Director profiles

Rita Teatia brings extensive public sector experience to the board. A 1981-batch Indian Administrative Service officer from the Gujarat cadre, she served as Commerce Secretary in the Ministry of Commerce & Industry from July 2015 to July 2018. Her tenure focused on logistics, trade facilitation, and the establishment of the Government e-Marketplace, which crossed ₹1 lakh crore in turnover within five years. She also served as Chairperson of the Food Safety & Standards Authority of India from 2018 to 2021.

Manish Chokhani has a strong background in capital markets. He holds an MBA from London Business School and is an Associate of the ICAI. He previously served as CEO of Enam Securities and Managing Director and CEO of Axis Capital Limited. Currently, he is a Director at Enam Holdings Pvt Ltd and serves on the boards of several listed companies.

Gautam Trivedi holds degrees in Commerce, Law, and an MBA from the University of Southern California. His career includes roles as Vice President at Reliance Industries, CEO at Religare Capital Markets, and Managing Director at Goldman Sachs (Asia) LLC. He is also the co-founder and Managing Partner of Nepean Capital LLP.

Regulatory compliance

All three directors have provided declarations confirming they are not debarred from holding the office of Director by SEBI or any other authority. None of the directors are related to existing directors of the company. The disclosures comply with SEBI Master Circular No. HO/49/14/14(7)2025-CFDPD2/I/3762/2026 dated January 30, 2026.

Landmark Cars declared a final dividend of ₹1.50 per equity share for FY26 during its 20th Annual General Meeting held on September 24, 2026. The payout represents a 30% return on the face value of ₹5 per share.

The meeting was conducted via video conferencing in compliance with SEBI and MCA guidelines. Members approved the adoption of both standalone and consolidated audited financial statements for the fiscal year ended March 31, 2026. The proceedings commenced at 3:00 pm and concluded at 3:25 pm.

Board appointments and reappointments

Shareholders passed several resolutions regarding the composition of the Board of Directors. Mr. Paras Somani was reappointed as a director following his retirement by rotation. Additionally, the company approved the reappointment of two independent directors and the appointment of one new independent director.

Voting and attendance details

A total of 52 members, including authorized representatives, attended the meeting through video conferencing. The facility for appointing proxies was not available due to the virtual format. Remote e-voting was facilitated by MUFG Intime India Pvt Ltd (formerly Link Intime India Pvt Ltd) from September 21 to September 23, 2026.

Seven directors attended the meeting, including the chairpersons of the Audit, Stakeholders Relationship, Nomination and Remuneration, and Risk Management Committees. Independent Director Ms. Sucheta Shah was absent due to personal exigency. The Statutory Auditors, Secretarial Auditors, and Scrutinizers were also present.

Regulatory compliance

The company confirmed that voting results will be declared separately on its website and disseminated to stock exchanges. All resolutions set forth in the notice are deemed passed subject to requisite majority. The Company Secretary, Amol Arvind Raje, signed off on the proceedings digitally.

What the numbers show

While all eight resolutions passed with the requisite majority, a significant divergence emerged in the voting pattern for the payment of commission to Non-Executive Directors. Public institutions cast 80.20% of their votes against this specific resolution, contrasting sharply with the near-unanimous support (99.99%+) seen for other board appointments and financial statement adoptions. Despite this institutional dissent, the resolution passed with an overall 79.93% in favour, driven by promoter group support and retail investor approval.