Veedol Corporation Limited has received a repudiation letter from National Insurance Company Limited in connection with an insurance claim filed following a fire incident at a third-party depot in Bhiwandi, District Thane, Maharashtra. The development was disclosed to the stock exchanges on 9th May, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

Background of the Incident and Claim

The fire incident at the third-party depot in Bhiwandi was first disclosed by the company on 5th October, 2024. Subsequently, on 5th February, 2025, the company made a further disclosure regarding the lodgment of an insurance claim with the insurer. The claim was filed under Policy No. 101000112310000499, with Claim No. 101000112491087296, with the insured party listed as Tide Water Oil Company (India).

The key details of the insurance claim repudiation are summarised below:

Repudiation Notice Details

The repudiation letter was communicated via email on 8th May, 2026, by Deepanshu Jindal, Administrative Officer at the General Claims Hub, Calcutta Regional Office I, National Insurance Company Limited. The email confirmed that the claim had been repudiated by the competent authority, with the repudiation letter also dispatched via post to the company's registered address. The disclosure to the exchanges was made by Abhijit Tikekar, Company Secretary & Head - Legal & CSR, on behalf of Veedol Corporation Limited.

Company's Response and Next Steps

Veedol Corporation has stated that it is currently evaluating all available options and remedies in the matter. In accordance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, the company has committed to intimating any further material developments to the stock exchanges as and when they arise, in compliance with applicable laws.

Veedol Corporation Limited [formerly Tide Water Oil Co. (India) Limited] has informed the stock exchanges of the resignation of Mr. Mandar Ghatnekar, Head – Marketing (SMP), pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The disclosure was filed on 5th May, 2026, and is accompanied by the relevant annexure and resignation letter as required under the applicable regulatory framework.

Key Details of the Resignation

The following table summarises the material disclosures as required under Regulation 30 read with Schedule III of the SEBI Listing Regulations, 2015:

Background and Transition

In his resignation letter dated 4th May, 2026, Mr. Ghatnekar stated that he is resigning from his Head Marketing position at Veedol to explore opportunities outside the company. He requested to be relieved within 90 days, effective from the date of the letter. Mr. Ghatnekar affirmed his full commitment to ensuring a smooth and seamless transition during the notice period.

Regulatory Compliance

The disclosure has been made in accordance with Sub-Para 7C of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated 13th July, 2023. The filing was signed and submitted by Abhijit Tikekar, Company Secretary & Head – Legal & CSR (Membership No.: A20213), on behalf of Veedol Corporation Limited.