Bharat Gears Limited , a prominent player in the Indian manufacturing sector, has recently found itself in the spotlight due to an unexpected corporate governance issue. The company has disclosed the receipt of an anonymous letter that raises questions about the citizenship status of its Chairman and Managing Director, Surender Paul Kanwar.

Key Details of the Incident

• Date of Receipt: November 3, 2025
• Nature of Communication: Anonymous, unsigned, and undated letter
• Recipients: Certain members of the Board of Directors
• Main Concern: Citizenship status of Surender Paul Kanwar

Company's Response

Bharat Gears Limited has taken a proactive approach to address this situation. The company has outlined its immediate steps in response to this development:

1. Assessment of Veracity: The company is currently in the process of evaluating the truthfulness and accuracy of the letter's contents.
2. Legal Consultation: Independent legal opinion is being sought regarding the legality of such an anonymous communication.
3. Transparency Commitment: The company has pledged to provide updates on any material developments related to this matter.

Regulatory Compliance

In line with its obligations under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Bharat Gears Limited has promptly informed the stock exchanges about this development. This disclosure demonstrates the company's commitment to transparency and regulatory compliance.

Implications and Next Steps

While the immediate impact of this development on Bharat Gears Limited's operations remains unclear, the situation underscores the importance of corporate governance and transparency in today's business environment. Stakeholders, including investors and regulatory bodies, will likely be watching closely for further updates from the company.

As the situation unfolds, key areas of focus may include:

1. The outcome of the company's assessment of the letter's contents
2. Any findings from the independent legal opinion
3. Potential implications for the company's leadership structure
4. Any regulatory inquiries or actions that may arise

Bharat Gears Limited's handling of this situation will be crucial in maintaining stakeholder confidence and ensuring minimal disruption to its business operations. The company's commitment to keeping the market informed about any material developments is a positive sign of its approach to corporate transparency.

Stakeholders are advised to stay tuned for further updates from the company as it navigates this unexpected corporate governance challenge.

Bharat Gears Limited , a key player in the automotive components sector, has announced significant changes to its board composition, appointing three new Non-Executive Independent Directors at its Annual General Meeting held on July 30, 2025. This strategic move aims to enhance the company's governance structure and bring diverse expertise to its leadership.

New Appointments

The newly appointed directors are:

1. Mr. Satya Prakash Mangal: A practicing Chartered Accountant and founding partner of M/s Satya Prakash Mangal & Company. Mr. Mangal, aged 65, brings extensive experience in financial engineering, restructuring, and project revival. His expertise includes corporate governance, risk management, and CSR practices.

2. Mr. Bharat Dev Singh Kanwar: With a background in Chemical Engineering and an MBA, Mr. Kanwar, aged 68, has over 43 years of experience in the automotive industry. His career spans roles at prominent companies such as Dana India, Spicer India, and Anand Automotive, where he demonstrated skills in turning around companies through operational excellence.

3. Mr. Nagar Venkatraman Srinivasan: At 81, Mr. Srinivasan brings 56 years of rich experience to the board. A mechanical engineering graduate with advanced degrees from U.S. universities, he has been associated with Bharat Gears since 1976, serving in various senior positions before retiring as Corporate Business Head.

Board Transitions

Simultaneously, the company bid farewell to two long-serving directors:

• Mr. Virendra Kumar Pargal
• Mr. Rakesh Chopra

Both directors completed two consecutive five-year terms, with the board acknowledging their valuable contributions and guidance during their tenure.

Terms of Appointment

All three new directors have been appointed for a five-year term, effective from July 30, 2025. The company affirmed that none of the appointed directors are debarred from holding office by any regulatory authority.

Strengthening Governance

These appointments reflect Bharat Gears' commitment to strengthening its corporate governance and bringing diverse perspectives to its board. The new directors' collective experience spans finance, automotive industry operations, and manufacturing management, potentially positioning the company for enhanced strategic decision-making and growth.

Bharat Gears Limited, known for its 'Geared for Life' tagline, continues to evolve its leadership structure to navigate the dynamic automotive components market. The infusion of new expertise is expected to support the company's future strategies and operations in the competitive industry landscape.

Shareholders and industry observers will likely watch closely how these new appointments influence the company's direction and performance in the coming years.