Popular Vehicles & Services Limited has notified stock exchanges about extending a corporate guarantee worth ₹15,00,00,000 to its wholly owned subsidiary for inventory funding facilities with Axis Bank Limited. The intimation was made under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Corporate Guarantee Details

The company is continuing to extend corporate guarantee in favour of Axis Bank Limited for two specific facilities granted to Popular Mega Motors (India) Private Limited:

The TATA CV (TN) facility has been enhanced from its previous limit of ₹3,00,00,000 to ₹8,00,00,000, representing a significant increase in the funding capacity.

Transaction Structure and Compliance

The guarantee arrangement involves the company's wholly owned subsidiary Popular Mega Motors (India) Private Limited. Key aspects of the transaction include:

• Arm's Length Basis: The transaction is conducted on arm's length terms
• No Promoter Interest: None of the promoters, promoter group members, or directors have any interest in this transaction
• Regulatory Compliance: Full disclosure made as per SEBI circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023

Financial Impact Assessment

The company has assessed that the corporate guarantee will have limited immediate impact on its operations. The guarantee is provided on behalf of its subsidiary, which forms part of the consolidated group. At present, the primary impact will be disclosure requirements in the financial statements, with no other material effects anticipated on the listed entity.

Regulatory Framework

The intimation was filed pursuant to Regulation 30 and other applicable regulations of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company has provided comprehensive details as required under the regulatory framework, ensuring full transparency with stakeholders and stock exchanges regarding this corporate guarantee arrangement.

Popular Vehicles & Services Limited has announced a postal ballot seeking shareholder approval for the re-appointment of Mr. John Kuttukaran Paul as Whole-Time Director. The company issued the notice on February 26, 2026, outlining the terms and conditions for his proposed appointment.

Proposed Director Re-appointment

The postal ballot seeks approval for Mr. John Kuttukaran Paul's (DIN: 00016513) re-appointment as Whole-Time Director for a term from April 1, 2026 to March 31, 2028. At 73 years of age, his appointment requires special resolution approval under Section 196(3)(a) of the Companies Act, 2013, as he has exceeded the statutory age limit of 70 years.

Remuneration Structure

The proposed remuneration package includes a monthly salary of Rs. 8,85,775 with annual increments up to 10% per annum, subject to Board approval on Nomination and Remuneration Committee recommendations. The compensation structure also features performance-based incentives tied to consolidated net profits.

Director Profile and Experience

Mr. John Kuttukaran Paul holds a bachelor's degree in Mechanical Engineering from the University of Calicut and brings over four decades of experience in the automobile industry. He has been associated with the company since its incorporation in 1983 and currently serves as president of Kerala Automobiles Dealership Association. His extensive experience includes responsibility for Maruti Suzuki dealership operations within the Kuttukaran group.

E-voting Process and Timeline

The company has engaged MUFG Intime India Private Limited to facilitate the remote e-voting process. Shareholders whose names appear in the Register of Members as on the cut-off date of February 20, 2026, are eligible to participate in the voting process.

Regulatory Compliance

The appointment requires Central Government approval under Schedule V of the Companies Act, 2013, due to previous regulatory matters. The company has filed Form MR-2 with the Ministry of Corporate Affairs on July 25, 2024, which remains under process. The Board of Directors appointed Mr. Myladoor Cherian Sajumon as Scrutinizer for conducting the postal ballot process.

Shareholders can access the postal ballot notice on the company's website at www.popularmaruti.com , BSE website at www.bseindia.com , NSE website at www.nseindia.com , and MUFG Intime's website. The voting process will be conducted entirely through electronic means, with no physical ballot forms being distributed to shareholders.