The Tata Power Company Limited has appointed Mr. Deepak Kapoor as an Additional Non-Executive Independent Director for a five-year term, effective June 1, 2026, subject to shareholder approval. The Board approved the appointment based on the recommendation of the Nomination and Remuneration Committee. Mr. Kapoor's tenure extends until May 31, 2031, and the appointment is disclosed in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Kapoor is a former Chairman of PwC India and was associated with the firm for over 30 years. He was named Partner in 1991 and served as Managing Director between 2007 and 2016. His experience encompasses audit functions, business advisory, and deal leadership across multiple industries including consumer products, manufacturing, telecom, technology, healthcare, entertainment, and media.

The appointment details were submitted to BSE Limited and the National Stock Exchange of India Limited. The disclosure confirms that Mr. Kapoor is not related to any of the directors of the company and is not debarred from holding the office of director by any SEBI order or other authority.

Mr. Kapoor is a fellow member of the Institute of Chartered Accountants of India (ICAI) and the Institute of Company Secretaries of India (ICSI). He is also a member of the Institute of Certified Fraud Examiners, USA. The information regarding the appointment is available on the company's website.

Appointment Details

The Tata Power Company Limited has recommended a dividend of Rs 2.50 per equity share for the financial year ended March 31, 2026. The payout, subject to shareholder approval at the upcoming Annual General Meeting (AGM), represents a 250% distribution on shares of Rs 1 each. Shareholders must ensure their holdings are registered by the record date to qualify for the dividend.

The Board of Directors approved the recommendation at its meeting on May 12, 2026. The company has established June 23, 2026, as the record date to determine shareholder eligibility. Following the AGM on July 7, 2026, the dividend is scheduled to be paid on July 10, 2026.

Tax Deduction at Source

In accordance with the Income Tax Act, 2025, dividend income is taxable in the hands of shareholders. Consequently, the company will deduct tax at source (TDS) at the time of payment. The applicable tax rate depends on the shareholder's residential status and the documentation submitted by the June 22, 2026 deadline.

Resident Shareholders

For resident individuals with a valid Permanent Account Number (PAN), TDS will be deducted at 10%. This rate increases to 20% if the PAN is invalid, not linked with Aadhaar, or unavailable. No tax will be deducted if the total dividend income for Tax Year 2026-27 does not exceed Rs 10,000 or if the shareholder submits valid exemption certificates such as Form 121.

Non-Resident Shareholders

Taxes for non-resident shareholders will be withheld at 20% plus applicable surcharge and cess under domestic tax laws. Shareholders may opt for benefits under Double Tax Avoidance Agreements (DTAA) if more favorable, provided they submit a Tax Residency Certificate, self-attested PAN copy, and a self-declaration in Form 41. Global Depositary Receipt holders face a 10% withholding rate if PAN is provided, rising to 20% otherwise.

Shareholders are required to update bank account details and submit necessary tax documents by June 22, 2026, to ensure the correct tax deduction and timely credit of the dividend.