ZF Steering Gear subsidiary DriveSys Systems Private Limited acquired additional land for its Aluminium Project expansion in Maharashtra.

The wholly owned subsidiary secured Plot No. E-10, measuring approximately 25,882 sq. mtrs., at the Supa Parner Industrial Park in Supa, Taluka Parner, District Ahilyanagar.

The acquisition follows a communication from the Maharashtra Industrial Development Corporation (MIDC) dated September 2, 2026. ZF Steering Gear disclosed the transaction on September 3, 2026, pursuant to SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Project Expansion Details

The additional land is adjacent to the existing project site. The company stated that the acquisition will facilitate the proposed expansion and development of the Aluminium Project.

It provides additional space for proposed manufacturing facilities and related infrastructure. This move follows an earlier communication on July 24, 2026, regarding a revision in the project cost for the same initiative.

Shareholders of ZF Steering Gear (India) Limited overwhelmingly endorsed the reappointment of Chairman Dinesh Munot and Managing Director Utkarsh Munot at the company’s 46th Annual General Meeting (AGM) held on July 27, 2026. The near-unanimous support, exceeding 99.9% for all key resolutions, signals strong confidence in the current management team’s strategic direction for the automotive components manufacturer. The meeting was conducted via Video Conference/Other Audio Visual Means (VC/OAVM), allowing broad participation from eligible shareholders.

The proceedings adhered to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as well as Section 108 of the Companies Act, 2013, and Rule 20(4) of the Companies (Management and Administration) Rules, 2014. M/s SIUT & Co., LLP served as the independent scrutinizer for the e-voting process. The statutory auditors, M/s Joshi Apte & Co., Chartered Accountants, were present during the meeting. As of the record date on July 20, 2026, 10,195 shareholders were eligible to vote.

Voting Results Overview

All six resolutions placed before the shareholders were passed with significant majorities. The promoter group, holding 5,693,679 shares, voted in favor of all items. While public non-institutional shareholders showed strong support, there were minor dissenting votes on certain resolutions. Notably, 391,611 votes were marked as invalid for the related party transaction resolutions, primarily from the promoter group category, though this did not affect the passage of these ordinary resolutions.

Leadership and Governance Details

Dinesh Munot chaired the meeting, providing an overview of the Indian economy, the automotive sector, and the commercial vehicle industry. He highlighted the company’s financial performance for FY26 and Quarter 1 of FY27, along with updates on subsidiaries and new projects. The Board included seven directors: Dinesh Munot, Utkarsh Munot, Smita Lahoti, Dinesh Bothra, Rohit Rathi, Shrenik Gandhi, and Bharat Agarwal.

Shrenik Gandhi serves as the Chairman of the Audit Committee and Stakeholders' Relationship Committee, while Bharat Agarwal heads the Nomination and Remuneration Committee. Jinendra Jain, Chief Financial Officer, and Satish Mehta, Company Secretary, were in attendance to address shareholder queries. The remote e-voting window ran from July 24 to July 26, 2026, with votes blocked immediately after completion. The combined results were generated from the National Securities Depository Limited (NSDL) system and submitted to stock exchanges within two working days.