Veedol Corporation Limited approved the appointment of Rajendra Nath Ghosal as Managing Director and declared final dividends for FY26 during its 103rd Annual General Meeting on August 24, 2026.

The meeting, chaired by Chairman D. S. Chandavarkar, was conducted via Video Conferencing and Other Audio Visual Means. A total of 58 members attended the proceedings.

Key Resolutions Passed

Members voted on eight resolutions covering ordinary and special business items. The key outcomes included:

• Adoption of the Statement of Profit and Loss and Balance Sheet for the year ended March 31, 2026.
• Confirmation of first and second interim dividends and declaration of the final dividend for FY26.
• Re-appointment of Ananta Mohan Singh as a Director retiring by rotation.
• Appointment of Rajendra Nath Ghosal as a Director and his subsequent appointment as Managing Director from June 1, 2026, to March 31, 2027.

Related Party Transactions and Audits

The Board sought approval for related party transactions with Standard Greases & Specialities Private Limited and ENEOS VCL India Private Limited. These approvals cover the sale, purchase, or supply of goods and materials, as well as the rendering or availing of services.

Additionally, members ratified the remuneration of ₹3.00 lakhs plus out-of-pocket expenses for M/s. Harshad S. Deshpande & Associates for undertaking the cost audit for the financial year 2026-27.

Voting Process

Remote e-voting commenced on August 21, 2026, at 10:00 am and concluded on August 23, 2026, at 5:00 pm. Manoj Prasad Shaw was appointed as the scrutinizer for the e-voting process. The combined voting results are expected to be published on the company’s website within two working days of the meeting's conclusion.

Veedol Corporation Limited has moved to seek shareholder approval for material related party transactions involving Standard Grease and Technologies Private Limited. The company's Board of Directors approved the circulation of a Postal Ballot Notice on August 15, 2026, marking the next step in the regulatory compliance process for these deals.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. This regulation mandates timely disclosure of material events to stock exchanges to ensure transparency in corporate governance.

Procedural Next Steps

The Postal Ballot Notice is scheduled to be sent to members in due course. Once circulated, the notice will also be filed with the National Stock Exchange of India Ltd. and BSE Limited. The process allows shareholders to vote on the proposed transactions without convening a general meeting.

Abhijit Tikekar, Company Secretary & Head - Legal & CSR at Veedol Corporation Limited, confirmed the board's decision in the filing. The company, formerly known as Tide Water Oil Company (India) Ltd., continues to adhere to listing compliance norms through such disclosures.