Saven Technologies Limited's Board of Directors convened on March 24, 2026, to address key governance matters including performance incentive approval and postal ballot result acknowledgment. The meeting, which commenced at 9:30 AM and concluded at 10:04 AM, transacted significant business related to executive compensation and regulatory compliance.

Performance Incentive Approval

The Board approved a substantial performance incentive for the company's leadership team. Based on recommendations from the Nomination and Remuneration Committee, the Board sanctioned a performance incentive payment to Mr. Murty Gudipati, Managing Director & CEO, for exceptional performance during the financial year.

Postal Ballot Results Acknowledgment

The Board formally noted the successful completion of the postal ballot process and scrutinizer's report regarding remuneration approval for Chairman Mr. Rajagopal Ravi. The postal ballot, which concluded on March 22, 2026, received overwhelming shareholder support with 99.99% votes in favour of the special resolution.

Comprehensive Voting Framework

The postal ballot was conducted under stringent regulatory compliance, following Section 110 read with Section 108 of the Companies Act, 2013. The process adhered to MCA General Circular No. 03/2025 and SEBI Circular SEBI/HO/CFD/CFD-PoD-2/P/CIR/2024/133, ensuring transparent electronic voting procedures. Central Depository Services (India) Limited provided the remote e-voting infrastructure, with Mr. Manish Kumar Singhania from MKS & Associates serving as the appointed scrutinizer.

Independent Directors Meeting

Concurrently, the Independent Directors conducted their separate meeting on March 24, 2026, fulfilling governance obligations under listing regulations. The independent directors reviewed the performance of non-independent directors, the Board as a whole, and the Chairman's performance. They also assessed the quality and timeliness of information flow between management and the Board, ensuring effective governance oversight and regulatory compliance.

Saven Technologies Limited has announced an interim dividend of Rs.1.50 per equity share for the financial year 2025-26, accompanied by comprehensive guidelines on Tax Deduction at Source (TDS) implications for shareholders.

Dividend Declaration Details

The Board of Directors declared the interim dividend at their meeting held on February 6, 2026, with specific timelines established for shareholder eligibility and payment.

Tax Deduction Framework

Under the Income Tax Act, 1961, as amended by the Finance Act, 2020, dividends paid on or after April 1, 2020, are taxable in shareholders' hands, requiring companies to deduct tax at source during dividend payment.

Key Tax Exemption: No tax will be deducted on dividend payments to resident individual shareholders if the aggregate dividend amount during Financial Year 2025-26 does not exceed Rs.10,000.

Resident Shareholders Tax Structure

For resident shareholders other than individuals receiving aggregate dividends not exceeding Rs.10,000 during FY 2025-26, the withholding tax rates vary based on PAN status and exemption categories.

Nil Tax Deduction Categories

Several resident shareholder categories qualify for nil tax deduction upon submitting appropriate documentation:

• Individuals furnishing Form 15G (below 60 years) or Form 15H (60 years and above)
• Entities exempt under section 194 (LIC, GIC, Business Trusts)
• Government entities, RBI, specified mutual funds under section 196
• Category I and II Alternative Investment Funds
• Other entities exempt under section 197A provisions

Non-Resident Shareholders Framework

Non-resident shareholders face varying withholding tax rates depending on their category and treaty benefits eligibility.

Documentation and Compliance Requirements

Shareholders must submit required documents by February 16, 2026, to xlfield@gmail.com for appropriate tax rate determination. The company reserves the right to independently verify shareholder details and apply higher tax rates if documentation is incomplete or inconsistent.

Critical Compliance Notes:

• Higher TDS rates under section 206AB apply to "specified persons"
• Non-resident shareholders must provide No Permanent Establishment declarations
• All submitted documents undergo company review and verification
• Tax certificates will be issued electronically post-dividend payment

Administrative Details

Shareholders are advised to update their KYC data including PAN number, email address, mobile number, and bank account details with the company's Registrar & Transfer Agent. The company will issue soft copies of TDS certificates through registered email addresses, with tax credit statements available on the Income Tax Department's website.

For queries regarding tax documentation and dividend-related matters, shareholders may contact the company's RTA at xlfield@gmail.com or the investor relations team at investorrelations@saven.in .