Tata Capital Limited has formally disclosed the resignation of Mr. Manish Chourasia, Chief Operating Officer – Corporate and Cleantech Finance, a Senior Management Personnel of the company. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and was filed with both BSE Limited and the National Stock Exchange of India Ltd. on May 6, 2026. Mr. Chourasia will be relieved from the services of the company effective from the close of working hours on May 11, 2026.

Resignation Details

The key particulars of the resignation, as disclosed under Regulation 30 of the SEBI Listing Regulations, are summarised below:

Background and Tenure

In his resignation letter addressed to Rajiv Sabharwal, Mr. Chourasia outlined his professional journey with the organisation. He joined Tata Capital on July 15, 2015, in the capacity of Managing Director of Tata Cleantech Capital Limited. Following a subsequent merger, he assumed the role of Chief Operating Officer – Corporate and Cleantech Finance from January 1, 2024. Mr. Chourasia expressed gratitude for the opportunities and support extended to him during his tenure and affirmed his commitment to ensuring a smooth and thorough handover of all responsibilities prior to his departure.

Regulatory Compliance

The disclosure was signed by Sarita Kamath, Chief Legal and Compliance Officer & Company Secretary of Tata Capital Limited, and was filed in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated July 11, 2023, as amended from time to time. The company has enclosed the requisite annexures, including a copy of Mr. Chourasia's resignation letter, as part of the regulatory filing.

Tata Capital Limited has commenced the remote e-voting process for its postal ballot notice seeking shareholder approval for material related party transactions with Tata Steel Limited. The notice, issued pursuant to Regulations 30 and 50(2) of the SEBI Listing Regulations, 2015, was sent to members electronically on May 5, 2026. The company has also published the notice in newspapers, including Business Standard and Navshakti, on May 6, 2026.

Proposed Transaction Details

The Audit Committee of Tata Capital has approved transactions with Tata Steel for an aggregate value of up to Rs. 15,060 crore for FY 2026-27. This amount represents 47.75% of Tata Capital's annual consolidated turnover for FY 2025-26 and 6.89% of Tata Steel's annual consolidated turnover for FY 2024-25. The breakdown of the proposed transactions is as follows:

Relationship and Governance

Tata Steel is an associate of Tata Sons Private Limited (TSPL), the promoter of Tata Capital. TSPL holds 78.8% of Tata Capital and 31.76% of Tata Steel as on March 31, 2026. Consequently, Tata Steel is classified as a related party. The materiality threshold for these transactions is Rs. 2,577 crore, which the proposed value exceeds, necessitating shareholder approval. Mr. Saurabh Agrawal, Chairman of Tata Capital, is deemed interested in the resolution.

Voting Schedule and Process

The postal ballot process is being conducted exclusively through remote e-voting via NSDL. Members whose names appear in the Register of Members as on the Cut-Off Date of May 1, 2026, are eligible to vote. The key dates for the voting process are:

Financing Terms

The proposed finance facilities include factoring and leasing arrangements with tentative interest rates ranging from 9.10% to 10.50%. The maturity period varies from 12 to 84 months, with repayment schedules available monthly, quarterly, or half-yearly. The facilities are secured and unsecured, primarily for the purchase of assets or working capital.