TGV Sraac Limited shareholders approved the alteration of the Object Clause in its Memorandum of Association (MoA) during the Annual General Meeting held on September 26, 2026. This regulatory filing, submitted to the Bombay Stock Exchange, formalizes the expansion of the company's permitted business activities.

Key Amendments to Object Clause

The approved changes involve two specific modifications to the main objects of the company. First, the existing clause regarding land acquisition and development was replaced with a new provision. This clause authorizes the company to take on lease or otherwise acquire lands and estates to develop resources through clearing, draining, fencing, planting, cultivating, building, improving, farming, irrigating, grazing, and promoting immigration and the establishment of villages and settlements.

Second, a new clause was inserted into Point III (A) 13 of the Object Clause. This addition explicitly permits the company to carry on the business of contractors, builders, town planners, infrastructure developers, estate developers, engineers, land developers, landscapers, estate agents, and immovable property dealers.

Expanded Real Estate and Construction Rights

The newly inserted clause grants TGV Sraac broad powers to acquire, buy, purchase, sell, lease, exchange, hire, or otherwise deal with lands, buildings, civil works, and immovable property of any tenure. It also allows the company to erect and construct houses, flats, bungalows, hospitals, or civil works of every type on company-owned or other lands. Furthermore, the company is authorized to pull down, rebuild, enlarge, alter, and improve properties within India or abroad.

Regulatory Compliance

The alteration was executed in compliance with Regulation 30 Schedule III, Part A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. An altered copy of the Memorandum of Association was enclosed with the disclosure for the exchange's records. The document was signed by V. Radhakrishna Murthy, Chief General Manager and Company Secretary.

TGV Sraac Limited shareholders approved a final dividend of ₹1 per equity share for the financial year ended March 31, 2026. The payout represents a 10% return on the face value of ₹10 per share.

The approval came during the company's 44th Annual General Meeting (AGM), held via video conferencing on September 26, 2026. Members also adopted the audited financial statements and reports of the Board of Directors and auditors for FY26. The company has now submitted the consolidated scrutinizer's report and detailed voting results to stock exchanges, confirming all 11 resolutions were passed with requisite majority.

Key resolutions passed

Shareholders passed several ordinary and special resolutions, including the reappointment of directors and changes to corporate governance structures. The following items were approved with requisite majority:

• Dividend Declaration: Final dividend of ₹1 per share (10%) for FY26.
• Director Reappointments: Sri Ramaiah Elluru and Sri Raghavendra Reddy Patil were reappointed as they retired by rotation and offered themselves for reappointment.
• Executive Director Remuneration: Ratification of the reappointment of Sri Karunakar Rao Kamisetty as Executive Director (Finance & Commercial) for three years, along with his remuneration package.
• Borrowing Powers: Special resolution to increase the borrowing powers of the company.
• Security Creation: Approval to create security in favor of a consortium of banks, including Indian Bank, IDBI Bank Limited, The Federal Bank Ltd., and The South Indian Bank Limited.
• Loan Conversion: Authorization for the Board to convert loans into equity in case of default or specific circumstances outlined in bank sanction letters.
• Related Party Transactions: Approval for material related party transactions, with promoters abstaining from voting.
• Memorandum Alteration: Proposal for alteration of the Memorandum of Association regarding the Object Clause.

Voting details and scrutiny

The voting process was overseen by Mr. M. Nirmal Kumar Reddy, a practicing Chartered Accountant appointed as the Scrutinizer. Remote e-voting commenced on September 21, 2026, and concluded on September 25, 2026, while e-voting at the AGM remained open until 15 minutes after the meeting's conclusion.

The following table summarizes the voting outcomes for key resolutions:

What the Numbers Show

The voting data reveals a distinct pattern in shareholder sentiment across different agenda items. While routine corporate actions such as dividend declaration, director reappointments, and financial statement adoption received overwhelming support with over 99.9% votes in favour, the resolution regarding material related party transactions saw significantly higher dissent. With 22.67% of votes cast against it, this item stands out as the only resolution where public shareholders expressed notable opposition, likely reflecting heightened scrutiny on related-party dealings compared to standard governance approvals.

Meeting proceedings and attendance

The meeting commenced at 11:00 am and concluded at 12:10 pm. A total of 74 members participated through video conferencing and other audio-visual means. Sri K. Karunakar Rao served as the Chairman of the AGM. The company utilized e-voting facilities provided by Central Depository Services of India Limited, allowing members who had not voted remotely to cast their votes during the meeting.

Auditor and compliance updates

The Chairman informed shareholders that the Statutory Auditor's Report and Secretarial Auditor's Report for FY26 contained no qualifications, observations, or comments that would adversely impact the company's functioning. Consequently, these reports were not read out in full. The statutory auditors, M/s Brahmayya & Co., and the secretarial auditor were present during the session.

Results of the remote e-voting and voting at the meeting are scheduled to be displayed on the company website and stock exchange platforms by September 28, 2026.