REC Limited Appoints Mohammed Azaz Ali as Chief Compliance Officer

REC Limited has announced a change in its senior management personnel effective May 17, 2026. Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company disclosed that Shri Hemant Kumar has ceased to hold the position of Chief Compliance Officer following the completion of his three-year tenure.

Mr. Mohammed Azaz Ali has been appointed as the new Chief Compliance Officer, effective May 17, 2026. Prior to this appointment, Mr. Ali served as General Manager (Finance) within the organization. Mr. Mohammed Azaz Ali holds a Bachelor's degree in Electronics Engineering and a Master's degree in Business Administration (Finance). The disclosure regarding relationships between directors was noted as not applicable for this appointment. The intimation was signed by Dinesh Garg, Company Secretary & Compliance Officer, on behalf of REC Limited.

Management Change Details

The following table summarizes the key details of the senior management transition:

Particulars:	Cessation	Appointment
Reason for Change:	Completion of three year's tenure of Shri Hemant Kumar as Chief Compliance Officer of the Company.	Appointment of Mr. Mohammed Azaz Ali, General Manager (Finance) as Chief Compliance Officer of the Company
Date of Change:	May 17, 2026	May 17, 2026
Brief Profile:	Not Applicable	Mr. Mohammed Azaz Ali holds a Bachelor's degree in Electronics Engineering and a Master's degree in Business Administration (Finance).
Disclosure of Relationships Between Directors:	Not Applicable	Not Applicable

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.64%	-4.47%	-10.03%	-6.46%	-17.49%	+214.79%

REC Limited , through its wholly owned subsidiary REC Power Development and Consultancy Limited (RECPDCL), has incorporated three new power transmission companies as wholly owned subsidiaries, pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The development was disclosed via an intimation dated May 9, 2026. All three entities are also subsidiary companies of REC Limited in terms of Section 2(87) of the Companies Act, 2013.

Three New Subsidiaries Incorporated

The three newly incorporated companies, along with their respective Corporate Identification Numbers (CINs), are:

Bhadla Ramgarh Power Transmission Limited (CIN: U42202DL2026GOI466318) — incorporated on May 8, 2026
Lakadia II Power Transmission Limited (CIN: U42202DL2026GOI466344) — incorporated on May 9, 2026
Jam Khambhaliya Jamnagar Power Transmission Limited (CIN: U42202DL2026GOI466346) — incorporated on May 9, 2026

Each of these companies has been incorporated with an authorized capital and paid-up capital of ₹5,00,000 each. As newly incorporated entities yet to commence business, turnover figures are not applicable for any of the three companies.

Key Details of the Newly Incorporated Entities

The following table summarizes the key parameters for each of the three newly incorporated subsidiaries:

Parameter:	Bhadla Ramgarh Power Transmission Limited	Lakadia II Power Transmission Limited	Jam Khambhaliya Jamnagar Power Transmission Limited
Date of Incorporation:	May 8, 2026	May 9, 2026	May 9, 2026
Authorized Capital:	₹5,00,000	₹5,00,000	₹5,00,000
Paid-up Capital:	₹5,00,000	₹5,00,000	₹5,00,000
Industry:	Power Sector	Power Sector	Power Sector
Shareholding Acquired:	100%	100%	100%
Nature of Consideration:	100% subscription to equity share capital in cash	100% subscription to equity share capital in cash	100% subscription to equity share capital in cash
Cost of Acquisition:	100% subscription at face value	100% subscription at face value	100% subscription at face value

Project Mandates and Regulatory Background

All three incorporations follow a Gazette Notification dated February 12, 2026, issued by the Ministry of Power, Government of India, which allocated inter-state transmission projects and nominated RECPDCL as the Bid Process Coordinator (BPC) for the selection of transmission service providers through the Tariff Based Competitive Bidding (TBCB) process.

The specific mandate for each company is as follows:

Bhadla Ramgarh Power Transmission Limited: Incorporated for Augmentation at Bhadla-III, Ramgarh PS and Kanpur (PG).
Lakadia II Power Transmission Limited: Incorporated for the Transmission system for Integration of Power from RE Projects in Lakadia REZ in Gujarat — Phase II (7500 MW).
Jam Khambhaliya Jamnagar Power Transmission Limited: Incorporated for the Common Transmission System for evacuation of power from Lakadia (Phase-II: 7.5 GW), Jam Khambhaliya (Phase-II: 5.5 GW) and Jamnagar (Phase-I: 1GW) — Part-B.

Transfer Upon Bidder Selection

In accordance with the TBCB guidelines, each of the three newly incorporated companies will be transferred to the successful bidder — along with all assets and liabilities — upon completion of the bidder selection process. RECPDCL acts as BPC for the selection of the Transmission Service Provider for independent inter-state and intra-state transmission projects assigned by the Ministry of Power and State Governments from time to time.

Related Party Disclosure

Since all three companies are wholly owned subsidiaries of RECPDCL, they are classified as related parties of REC Limited. However, the promoter, promoter group, and group companies do not have any interest in these entities beyond the extent of their respective shareholdings. The indicative time period for completion of the acquisition has been noted as not applicable for all three entities.