tvs srichakra has declared the results of the postal ballot conducted for the re-appointment of Mr. R Naresh as Managing Director, designated as Executive Vice-Chairman. The special resolution was passed with the requisite majority by the members on 29 March 2026, with the results declared on 31 March 2026 at the company's registered office in Madurai. The announcement was made to the National Stock Exchange of India Ltd. and BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Approval and Postal Ballot Process

At the Board Meeting held on 12 February 2026, the Board of Directors approved the re-appointment of Mr. R Naresh for a term of three years effective from 16 June 2026. The appointment was subject to member approval, which was sought through a postal ballot conducted in accordance with the Companies Act 2013 and relevant SEBI regulations. Mr. N. Balachandran, Practicing Company Secretary (CP No. 3200), was appointed as Scrutinizer to ensure a fair and transparent e-voting process through National Securities Depository Limited.

The postal ballot notice was sent via email on 26 February 2026 to members whose names appeared on the Register of Members as of 20 February 2026. Newspaper advertisements were published in Business Line (all editions) and Dinamalar (Tamil) on 28 February 2026. The e-voting period commenced at 9.00 a.m. IST on 28 February 2026 and concluded at 5.00 p.m. IST on 29 March 2026.

Resolution Details and Remuneration Terms

The special resolution sought approval for the re-appointment of Mr. R Naresh (holding DIN 00273609) as Managing Director, designated as Executive Vice-Chairman, for a period of three years from 16 June 2026. The remuneration payable to him shall be decided by the Board based on the recommendation of the Nomination Remuneration Committee, subject to a maximum of 5% of the company's net profits as calculated under applicable provisions of the Companies Act, 2013.

The resolution includes provisions for minimum remuneration in years where the company has no profits or inadequate profits, allowing payment of salary and perquisites up to the limits specified in Part II of Section II of Schedule V of the Companies Act, 2013. The Board is authorized to enhance or vary the scope and quantum of remuneration based on recommendations from the Nomination and Remuneration Committee, in compliance with any amendments to relevant laws or guidelines.

Voting Results Summary

The Scrutinizer submitted his report on 30 March 2026, confirming that the special resolution was passed with the required majority. The detailed voting results as per the Scrutinizer's Report are presented below:

The minutes of the resolution were entered into the Minutes Book on 15 April 2026, signed by Chinmoy Patnaik, Company Secretary & Compliance Officer, and the Chairman. The company's registered office is located at TVS Building, 7-B, West Veli Street, Madurai 625 001.

TVS Srichakra Limited has executed a significant Assignment and Assumption Agreement on 10th April 2026, taking over key motorsports agreements in the United States. The deal involves the company's wholly owned subsidiary Super Grip Corporation USA and Bristol Motor Speedway LLC, positioning TVS Srichakra to directly manage its US motorsports presence.

Agreement Structure and Parties

The Assignment and Assumption Agreement enables TVS Srichakra to assume all rights, duties, and obligations of Super Grip Corporation under two existing agreements with Bristol Motor Speedway LLC. These include the Suite License Agreement dated 16th February 2024 and the Sponsorship Agreement dated 5th April 2024.

Financial Commitment and Payment Structure

Under the agreement terms, TVS Srichakra will pay USD 10,33,250 in tranches to Bristol Motor Speedway LLC for the remaining years of the agreements. Notably, no monetary consideration is payable to Super Grip Corporation USA for this assignment, as it involves an internal restructuring within the group.

Strategic Purpose and Market Positioning

The company has stated that the primary purpose of entering into this agreement is enhancing the visibility and reach of the company's brands in global markets. By directly assuming these motorsports agreements, TVS Srichakra aims to strengthen its presence in the competitive US automotive and motorsports sector.

Key Agreement Terms

The significant terms of the Assignment and Assumption Agreement include:

• TVS Srichakra assumes all obligations under both original agreements from the execution date
• No changes will be made to the terms of the original agreements
• The agreement duration extends until 31st December 2028
• All existing rights and obligations transfer seamlessly to the parent company

Related Party Transaction Details

The assignment transaction between Super Grip Corporation USA and TVS Srichakra qualifies as a Related Party Transaction, conducted on an arm's length basis. Bristol Motor Speedway LLC remains a third-party entity with no relationship to the company's promoter or group companies.

This strategic move represents TVS Srichakra's commitment to expanding its international footprint in the motorsports industry while consolidating its US operations under direct management.