Rane Holdings Limited has filed a disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, informing stock exchanges of a significant legal development involving its wholly owned material subsidiary, Rane Steering Systems Private Limited (RSSL). The communication, dated May 04, 2026, pertains to a stay order obtained by RSSL from the Hon'ble High Court of Madras in connection with an Income Tax Department penalty order for Assessment Year 2015-16 (Financial Year 2014-15).

Stay Order from Madras High Court

RSSL filed a Writ Petition under Article 226 of the Constitution of India before the Hon'ble High Court of Madras. The court granted a stay order setting aside the order passed by the Assessment Unit (AU) of the Income Tax Department, and remitted the case back to the AU to pass a fresh order after considering the Denovo order from the Commissioner of Income Tax (Appeals). The order was received by RSSL on May 04, 2026.

The following table summarises the key details of the disclosure as filed with the stock exchanges:

Background: Prior Penalty Order

The disclosure references a prior order received by RSSL from the Assessment Unit of the Income Tax Department on March 11, 2026, which was communicated to the stock exchanges vide letter RHL/SE/095/2025-26 dated March 12, 2026. That order had levied a penalty of ₹3.63 Crores under Section 271(1)(c) of the Income Tax Act, 1961. According to the disclosure, the penalty was imposed without considering the fact that the Income Tax Appellate Tribunal had, vide its order dated March 04, 2026, remanded the appeal back to the Commissioner of Income Tax (Appeals) to consider the merits of the case and adjudicate the matter.

Next Steps and Compliance Status

Following the Madras High Court's stay order, RSSL is currently awaiting the Denovo order from the Commissioner of Income Tax (Appeals). Upon receipt, RSSL intends to file a suitable reply with the necessary supporting documents and justification before the relevant authority. The company has confirmed that there are no aberrations, non-compliances, penalties, or restrictions identified or imposed pursuant to the current communication from the High Court.

The disclosure was made in compliance with Regulation 30 of SEBI LODR, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026. Rane Holdings has stated that all information provided in the disclosure is true, correct, and complete to the best of its knowledge and belief.

India Power Corporation Limited has announced its participation in the Second 100 Days Campaign titled 'Saksham Niveshak' as part of the Investor Education and Protection Fund Authority (IEPFA) initiative. The campaign, which commenced on April 01, 2026 and will continue until July 09, 2026, aims to facilitate shareholders in updating their KYC details and claiming unpaid dividends to prevent transfer to the Investor Education Protection Fund (IEPF).

Campaign Framework and Regulatory Compliance

The initiative follows communication from IEPFA and Ministry of Corporate Affairs (MCA) dated March 27, 2026, requesting companies to initiate the Second 100-day Campaign focusing on shareholders with unclaimed dividends. The company has published advertisements in Financial Express (English) and Aajkal (Bengali) newspapers on April 23, 2026, ensuring compliance with regulatory requirements.

Key Campaign Objectives

The Saksham Niveshak campaign focuses on four primary actions: proactive engagement with shareholders to update KYC, bank mandates, and contact information; timely dividend processing to ensure swift processing of dividend claims; prevention of unnecessary transfers to avoid IEPF transfer of shares; and direct claim settlement enabling shareholders to receive rightful claims directly from the company.

Shareholder Action Requirements

Shareholders with unpaid or unclaimed dividends from Financial Year 2018-19 onwards are required to update their KYC details including PAN (linked with Aadhaar number), contact details with postal address and PIN code, mobile number, bank account details, specimen signature, and nomination details. Since dividends are payable only through electronic mode, amounts will be credited to shareholders' bank accounts only after required information and KYC documents are updated.

Support Services and Contact Information

Shareholders requiring assistance can contact the company's Registrar and Transfer Agent, CB Management Services (P) Ltd, located at Rasoi Court 5th floor, 20, Sir R N Mukherjee Road, Kolkata - 700001. They can be reached at telephone number 033-6906 6200 or via email at rta@cbmsl.com . For campaign-related queries, shareholders can also contact the company directly at corporate@indiapower.com .

Documentation and Compliance

The notification was communicated to National Stock Exchange of India Limited and Metropolitan Stock Exchange of India Limited on April 23, 2026, under scrip symbol DPSCLTD. The communication was digitally signed by Dhananjoy Karmakar, Company Secretary & Compliance Officer (FCS: 6901), ensuring proper documentation and regulatory adherence under SEBI LODR regulations.

Source: None/Company/INE360C01024/fec38bb424764ffb.pdf