Maharashtra Scooters has dispatched a postal ballot notice to shareholders seeking approval for a corporate name change and alterations to its object clause. The company proposes renaming itself to Bajaj Nivesh Limited. The move aligns with its strategic objective of operating as an Unregistered Core Investment Company (CIC).

The postal ballot notice, dated July 29, 2026, was sent to members on August 28, 2026. Shareholders holding securities as of the cut-off date of August 21, 2026, are eligible to vote. The e-voting period commences on August 29, 2026, at 9:00 am and concludes on September 27, 2026, at 5:00 pm.

Strategic Rationale for Name Change

The board approved the name change at its meeting on July 29, 2026. The company discontinued geared scooter manufacturing in 2006 and closed tool room operations in FY25. Currently, it holds not less than 90% of its net assets in investments in group companies, complying with RBI Master Directions for Core Investment Companies.

The Central Registration Centre (CRC) under the Ministry of Corporate Affairs approved the reservation of the name "Bajaj Nivesh Limited" via a letter dated August 14, 2026. The change requires a special resolution from shareholders and subsequent issuance of a fresh Certificate of Incorporation by the Registrar of Companies.

Alterations to Object Clause

The proposed amendments to the Memorandum of Association (MOA) involve deleting clauses related to scooter manufacturing and technical assistance agreements with Bajaj Auto Limited. The existing investment-related clause will be retained and renumbered.

Additionally, the company plans to insert a new clause enabling it to pursue renewable energy generation and production through solar, wind, and other natural resources. This expansion is subject to applicable regulatory requirements and necessary approvals.

Compliance and Scrutiny

KKC & Associates LLP, the statutory auditors, issued a certificate dated August 25, 2026, confirming compliance with Regulation 45(1) of the SEBI Listing Regulations. The certificate verifies that no name change occurred in the preceding year and that revenue attributable to the activity suggested by the new name accounted for at least 50% of total revenue in the preceding one-year period.

Sachin Bhagwat, a practicing company secretary, has been appointed as the scrutiniser for the postal ballot process. The results will be declared within two working days of the voting closure, on or before September 29, 2026.

Maharashtra Scooters has declared a final dividend of ₹60 per equity share for the financial year ended March 31, 2026, following approval by its shareholders at the 51st Annual General Meeting (AGM). The meeting, held on July 29, 2026, also resulted in the reappointment of Ravikumar Srinivasan as a director, ensuring continuity in the company’s leadership structure.

The e-AGM was conducted through Video Conferencing/Other Audio-Visual Means (VC/OAVM) in compliance with Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) regulations. Sanjiv Bajaj, Chairman of the Company, presided over the proceedings, which began at 10:45 a.m. and concluded at 11:41 a.m. A total of 91 members attended the meeting, satisfying the requisite quorum.

Key Resolutions Passed

The shareholders approved three ordinary business resolutions during the meeting:

Governance and Audit Compliance

The Chairman confirmed that the Statutory Auditors’ report and the Secretarial Audit report for FY26 contained no adverse remarks, qualifications, or disclaimers. Consequently, these reports were not read out in full during the meeting. The presence of the Chairman of the Audit Committee, Nomination and Remuneration Committee, and Stakeholder Relationship Committee was confirmed, alongside the Statutory Auditors, Secretarial Auditor, and the Scrutiniser appointed to oversee the e-voting process.

Anant Marathe, Chief Financial Officer, addressed queries from members regarding the company’s accounts and business operations. The Chairman noted that necessary documents under the Companies Act, 2013, and Secretarial Standard on General Meetings were available for electronic inspection.

Voting and Disclosure

Members utilized remote e-voting facilities provided by KFin Technologies Limited, the Registrar to an Issue and Share Transfer Agent. Those who joined the e-AGM but had not voted remotely were given the opportunity to cast their votes during the meeting. The consolidated Scrutiniser’s Report and e-voting results are scheduled to be filed with the BSE and NSE within two working days of the meeting’s conclusion. The recorded transcript will be made available on the company’s website shortly.