Rane Holdings Limited has announced significant changes in the Key Managerial Personnel (KMP) structure of its wholly owned subsidiary, Rane Steering Systems Private Limited (RSSL). The changes were approved by the Board of Directors of RSSL at their meeting held on February 03, 2026.

Key Personnel Changes

The company has announced two major personnel transitions that will take effect in early February 2026:

Transition Details

Mr. V Sethuraman will cease to hold the position of Company Secretary at the close of business hours on February 03, 2026. However, he will continue to serve as the Chief Financial Officer of RSSL, maintaining his role as Senior Vice-President - Finance. The cessation is attributed to internal re-organisation within the company structure.

New Appointee Profile

Mr. S Anand has been appointed as the new Company Secretary of RSSL, effective from February 04, 2026. His appointment details include:

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided comprehensive details as required under the SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.

Corporate Structure Impact

The changes reflect the company's internal reorganisation strategy while ensuring continuity in key financial oversight roles. Mr. Sethuraman's retention as Chief Financial Officer provides stability in the financial management of the subsidiary, while the appointment of Mr. S Anand brings additional expertise in company secretarial functions to the organisation.

Rane Holdings Limited has disclosed receiving a significant tax order affecting its wholly owned subsidiary, with total financial implications of ₹4.91 crores. The regulatory communication, filed under SEBI LODR Regulation 30, reveals ongoing tax compliance challenges faced by the company's subsidiary operations.

Tax Order Details

Rane Steering Systems Private Limited (RSSL), the wholly owned subsidiary of Rane Holdings Limited, received an order under Section 73 of the CGST Act, 2017 from the Deputy Excise and Taxation Commissioner (State Tax), Haryana on December 25, 2025. The order stems from a show cause notice dated September 29, 2025, which was issued based on audit observations.

Financial Breakdown

The total demand of ₹4.91 crores comprises multiple components reflecting the comprehensive nature of the tax assessment. The breakdown demonstrates the significant financial impact across different categories of tax obligations.

Key Issues Identified

The tax authorities identified two primary areas of non-compliance during their audit examination:

• Employee Secondment Issues: Secondment of employees was treated as import of service liable for reverse charge tax, indicating potential misclassification of employment arrangements
• Input Tax Credit Disputes: Discrepancies between GSTR2A and GSTR3B returns, highlighting reconciliation challenges in the company's tax compliance processes

Company Response Strategy

RSSL has indicated its intention to contest the order before the appropriate authority, suggesting the company believes the tax demands are not justified. This approach reflects the company's confidence in its tax positions and willingness to pursue legal remedies to challenge the assessment.

The disclosure follows an earlier communication referenced as letter number RHL/SE/045/2025-26 dated September 30, 2025, indicating this matter has been under regulatory scrutiny for several months. The company has maintained transparency by providing comprehensive details as required under SEBI regulations for material developments affecting subsidiary operations.