Automobile Corporation of Goa Limited has announced the cessation of Mr. Nagesh Pinge as Independent Director following the completion of his tenure. The company informed BSE Limited about this corporate governance change through an official communication dated January 21, 2026, in compliance with SEBI Listing Regulations.

Director Tenure Completion Details

Mr. Nagesh Pinge's term as Independent Director of the company concluded on January 21, 2026. The cessation became effective from the close of business hours on the same date. This change occurred as a natural conclusion of his directorship tenure rather than due to resignation or removal.

Committee Position Changes

Consequent to his cessation as Independent Director, Mr. Pinge also relinquished several key committee positions within the company. His departure affected multiple governance committees where he held leadership and membership roles.

The positions vacated include:

• Chairperson of the Audit Committee
• Chairperson of the Corporate Investment Committee
• Member of the Risk Management Committee
• Member of the Capital Investment Committee

Regulatory Compliance

The company has fulfilled all disclosure requirements under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The announcement referenced compliance with specific SEBI circulars including SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, and SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024.

Company Secretary Mitesh Gadhiya signed the official communication, ensuring proper documentation and regulatory adherence. The disclosure was made to BSE Limited where the company's shares are listed under scrip code 505036.

Automobile Corporation of Goa Limited has formally addressed a compliance delay regarding the submission of related party transactions disclosure for the half year ended September 30, 2025. The company's Board of Directors convened on January 19, 2026, to review the matter following correspondence from BSE Limited dated December 16, 2025.

Board Response to Compliance Delay

The Board of Directors acknowledged the inadvertent delay of one day in submitting the disclosure of Related Party Transactions under Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulatory requirement mandates timely disclosure of related party transactions to ensure transparency and compliance with listing obligations.

Financial Penalty and Remedial Actions

The company has taken immediate corrective measures to address the compliance lapse:

Strengthening Internal Controls

Recognizing the importance of regulatory compliance, the Board has advised the management to strengthen internal controls to avoid recurrence of such instances in the future. This proactive approach demonstrates the company's commitment to maintaining high standards of corporate governance and regulatory adherence.

Regulatory Context

The disclosure pertains to Regulation 23(9) of SEBI LODR Regulations, which requires listed companies to submit related party transactions disclosures within specified timelines. The company's prompt acknowledgment and corrective action reflect its dedication to transparency and compliance with regulatory frameworks.

The communication was signed by Company Secretary Mitesh Gadhiya and submitted to BSE Limited on January 21, 2026, ensuring all stakeholders are informed of the company's response to the compliance matter.