CARE Ratings Limited has successfully completed its postal ballot process, with shareholders overwhelmingly approving the appointment of Dr. Bimal Patel as Non-Executive Independent Director. The voting concluded on January 15, 2026, with the resolution receiving 99.99% approval from participating shareholders.

Voting Results and Outcome

The postal ballot, conducted exclusively through remote e-voting via NSDL platform, demonstrated strong shareholder support for the proposed appointment. The comprehensive voting process involved both institutional and retail investors.

Director Appointment Details

Dr. Bimal Patel's appointment as Non-Executive Independent Director has been formally approved for a three-year term. The appointment follows regulatory compliance requirements under the Companies Act, 2013, and SEBI Listing Regulations.

Regulatory Compliance and Filing

The company has submitted the voting results to both BSE Limited (Scrip Code: 534804) and National Stock Exchange of India Ltd (Symbol: CARERATING) under Regulation 30 and 44(3) of SEBI Listing Regulations. Company Secretary Manoj Kumar CV signed the regulatory filing on January 16, 2026.

Scrutinizer Report and Process

Mitesh Dhabliwala of Parikh & Associates (FCS 8331) served as the appointed Scrutinizer for the postal ballot process. The scrutinizer's report confirmed the validity of the voting process and results.

Director Profile and Qualifications

Dr. Patel brings extensive expertise in international law, national security, and institutional leadership spanning over 25 years. He currently serves as Vice-Chancellor and Professor of Public International Law at Rashtriya Raksha University and holds multiple prestigious positions.

Key Positions:

• Member of National Security Advisory Board, National Security Council, Government of India
• Member and Chair of Working Group, UN International Law Commission (2023-28)
• Member of Financial Sector Regulatory Appointments Search Committee
• Chairman and Independent Director of NSE Data Analytics Ltd, NSE Sustainability Ratings Analytics Ltd, and NSE Indices Ltd

Educational Qualifications:

• Dual PhD in International Law (Leiden University and Jaipur)
• LLM in International Law (Leiden University)
• MA and Post Graduate Diplomas in International Relations (University of Amsterdam)
• BSc degree

The voting results have been uploaded on the company's website at www.careedge.in and NSDL's e-voting platform at www.evoting.nsdl.com , completing all regulatory requirements for the appointment process.

CARE Ratings Limited , a prominent player in the Indian credit rating sector, has taken significant steps to enhance employee ownership and engagement through its stock option program. The company recently announced two key developments in its employee stock ownership plan (ESOP).

Equity Share Allotment

The Nomination and Remuneration Committee (NRC) of CARE Ratings has approved the allotment of 6,283 equity shares to employees who exercised their options under the CARE Employee Stock Option Scheme 2020. This move has resulted in an increase in the company's paid-up share capital.

New Stock Option Grant

In addition to the allotment, the NRC has approved a fresh grant of stock options to eligible employees:

Vesting Schedule

The newly granted stock options will vest over a three-year period:

• 1/3rd after completion of one year from the grant date
• 1/3rd after completion of two years from the grant date
• 1/3rd after completion of three years from the grant date

Employees will have a two-year window from the date of vesting to exercise their options.

This strategic move by CARE Ratings aligns with the company's commitment to fostering employee ownership and potentially enhancing long-term engagement. By offering stock options, the company aims to align employee interests with those of shareholders, potentially driving motivation and retention of key talent.

The ESOP scheme complies with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, ensuring adherence to regulatory standards in implementing employee stock ownership programs.

As companies continue to explore ways to attract and retain talent in a competitive market, employee stock ownership plans remain a popular tool. CARE Ratings' recent actions demonstrate its ongoing commitment to this approach, potentially positioning itself as an attractive employer in the financial services sector.