Team India Guaranty Limited Board of Directors approved material related party transactions with Team India Managers Limited and Surajkumar Saraogi on October 21, 2026. The approvals facilitate corporate and personal guarantees for the company's borrowings.

The transactions involve availing Corporate Guarantee(s), Personal Guarantee(s), security, or other credit support in connection with borrowings and credit facilities. These measures are intended to secure financing within the overall borrowing limit previously approved by shareholders.

Regulatory framework and approvals

The Board acted based on the recommendation of the Audit Committee. The transactions fall under the purview of Regulation 23(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Consequently, prior approval from the Members is required through a postal ballot process.

The borrowing limits referenced were approved by the Members at the 36th Annual General Meeting held on September 21, 2026. This ensures that the new credit support arrangements remain within the pre-approved financial boundaries set by the company's owners.

Postal ballot procedure

The Board also considered and approved the Draft Notice of Postal Ballot, along with the Explanatory Statement. This notice will seek Member approval for the proposed Material Related Party Transactions via remote e-voting. Detailed information regarding the postal ballot schedule and remote e-voting mechanics will be communicated to the stock exchanges separately in due course.

The board meeting commenced at 4:28 pm and concluded at 4:42 pm. The company secretary and compliance officer, Aarti Chatakchand Pandey, signed the disclosure submitted to BSE and NSE.

Team India Guaranty Limited submitted a clarification to BSE regarding the resignation of Sreedevi Pillai as Non-Executive Independent Director. The filing addresses an observation by the exchange concerning the completeness of disclosures made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Pillai resigned from the Board effective September 23, 2026, citing increased professional and personal commitments. The company confirmed that no other material reasons exist for her departure beyond those stated in her resignation letter.

Disclosure compliance details

The company had initially intimated the stock exchanges about the cessation of Pillai's directorship on September 23, 2026. Following a query from BSE dated October 13, 2026, Team India Guaranty provided the formal resignation letter to ensure full compliance with regulatory requirements. The document was digitally signed by Aarti Pandey, Company Secretary and Compliance Officer.

Other directorships held

Pillai continues to serve on the boards of other listed entities. Her current roles include:

What the numbers show

The disclosure highlights that Pillai's exit was driven by capacity constraints rather than governance disputes or strategic disagreements. By explicitly stating that she cannot devote sufficient time due to other commitments, the filing signals a routine administrative change rather than a red flag for corporate governance issues at the NBFC.