TRF Limited has secured shareholder approval for material related party transactions worth ₹329.61 crore with its promoter group entities for FY2026-27. The resolutions authorized an aggregate value of ₹314 crore for transactions with Tata Steel Limited and ₹15.61 crore for transactions with Tata Steel Utilities and Infrastructure Services Limited. The approvals cover the purchase and sale of goods, rendering and receiving of services, and other operational transactions to be conducted at arm's length in the ordinary course of business.

The postal ballot was conducted via remote e-voting, which commenced on Friday, May 15, 2026, at 9:00 a.m. (IST) and concluded on Saturday, June 13, 2026, at 5:00 p.m. (IST). Pramod Kumar Singh, Partner of M/s P. K. Singh & Associates, served as the Scrutinizer for the process. The voting results were submitted to the stock exchanges on June 15, 2026.

Voting Results

Both ordinary resolutions received the requisite majority from shareholders. Promoters and the Promoter Group did not vote on the resolutions as they are interested parties. Public shareholders participated actively, with 99.02% of the votes polled in favour of the transactions.

Transaction Details

The approval with Tata Steel Limited allows the Board to continue existing contracts or enter into new arrangements for the purchase and sale of goods and services. The transaction with Tata Steel Utilities and Infrastructure Services Limited is specifically for the receipt of various services. Both approvals are valid for the financial year FY2026-27 and are subject to the transactions being carried out at arm's length.

The detailed Scrutinizer's report and voting results have been made available on the company's website and the websites of the National Stock Exchange of India Limited and BSE Limited.

Tata Steel Limited has confirmed that it, along with Persons Acting in Concert (PACs), has not created any encumbrance, directly or indirectly, in TRF Limited during the financial year 2025-26. The declaration was submitted to the National Stock Exchange of India Limited and BSE Limited on April 6, 2026, in compliance with Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The regulation mandates that the promoter of every target company must declare annually that no new encumbrances have been made other than those previously disclosed. Tata Steel, acting as the promoter, affirmed that its compliance status remains unchanged for the specified period.

Disclosure Details

The filing addressed the Audit Committee of TRF Limited and the stock exchanges to formalize the annual compliance requirement. The confirmation ensures that all shareholding details remain free of undisclosed charges or liens for the financial year under review.

The communication was signed by Parvatheesam Kanchinadham, Company Secretary and Chief Legal Officer of Tata Steel Limited.