Rane Holdings Limited announced significant changes in its Key Managerial Personnel following a Board of Directors meeting held on March 26, 2026. The board approved a transition in the Company Secretary position, effective June 1, 2026, based on recommendations from the Nomination and Remuneration Committee.

Leadership Transition Details

The company disclosed changes involving two key personnel in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transition involves the departure of the current Company Secretary and the appointment of his successor.

New Appointee Profile

Ms. S Subha Shree brings substantial experience to her new role as Company Secretary and Compliance Officer. She holds a commerce degree from University of Madras and is an Associate Member of the Institute of Company Secretaries of India. Additionally, she possesses a Masters degree in Business Laws from National Law School of India University, Bangalore.

Her professional background includes:

• Over 22 years of experience in secretarial compliance domain
• Association with Rane Group since 2010
• Current position as Company Secretary of Rane (Madras) Limited
• Appointment pursuant to reassignment of responsibilities within the group company

Board Meeting Proceedings

The Board of Directors meeting commenced at 10:00 hrs (IST) and concluded at 12:59 hrs (IST) on March 26, 2026. During the meeting, the board acknowledged Mr. Siva Chandrasekaran's contributions, taking on record its appreciation for his valuable service during his tenure with the company.

Regulatory Compliance

The announcement was made in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2//3762/2026 dated January 30, 2026. The company has fulfilled its disclosure obligations under the relevant SEBI regulations, ensuring transparency in the management transition process.

The seamless transition reflects Rane Holdings Limited's commitment to maintaining continuity in its corporate governance and compliance functions while leveraging internal talent from within the Rane Group ecosystem.

Rane Holdings Limited has informed stock exchanges about a penalty order received by its wholly owned subsidiary from the Income Tax Department. The disclosure was made under Regulation 30 of SEBI LODR regulations on March 12, 2026.

Penalty Details and Financial Impact

Rane Steering Systems Private Limited (RSSL), the wholly owned subsidiary of Rane Holdings, received an order from the Income Tax Department's National Faceless Assessment Centre imposing a penalty under Section 271(1)(c) of the Income Tax Act, 1961. The penalty relates to additions made during reassessment proceedings under Section 147 of the Income Tax Act.

Company's Response and Legal Action

RSSL has decided to contest the penalty order and will file an appeal before the Commissioner of Income Tax (Appeals) within the prescribed time limits. The company maintains its position against the penalty imposed by the tax authorities.

Background and Timeline Issues

The penalty order was issued despite a significant development in the case. The Income Tax Appellate Tribunal had remanded the appeal back to the Commissioner of Income Tax (Appeals) through their order dated March 04, 2026. The Tribunal's directive was for the Commissioner to consider the merits of the case and adjudicate the matter properly.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of SEBI LODR regulations, specifically under Part A Para B.8 Schedule III. This follows previous communications from the company dated March 11, 2026 and September 09, 2025 regarding disallowance of certain revenue expenses by the Income Tax Authority relating to RSSL.

The company has declared that all information provided in the disclosure is true, correct and complete to the best of their knowledge and belief, as required under Regulation 30(13) of SEBI LODR.