TeamLease Services Limited has announced the appointment of Mr. Vamsikrishna Ithamraju as Chief Digital and Information Officer (CDIO) effective January 07, 2026. The company disclosed this senior management appointment in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

Mr. Ithamraju will lead digital transformational projects and head technology initiatives for the TeamLease Services Employment cluster in his new role as CDIO. The appointment represents the company's continued focus on strengthening its technology leadership and digital capabilities.

Professional Background

Mr. Ithamraju brings over two decades of extensive experience in technology leadership across multiple sectors including financial services, fintech, capital markets, and consulting. His career demonstrates a strong track record of building and scaling high-performance engineering teams, modernizing legacy platforms, and driving cloud-native and AI-led transformations at scale.

Most recently, he served as Chief Technology Officer at Axis Mutual Fund, where he led large, multi-disciplinary technology teams and played a key role in building scalable digital platforms that significantly enhanced customer experience and business growth. His leadership at Axis Mutual Fund involved overseeing complex technology initiatives that contributed to the organization's digital advancement.

Career Experience and Expertise

Mr. Ithamraju's professional journey includes senior leadership positions at several prominent organizations:

• Axis Mutual Fund: Chief Technology Officer
• NeoGrowth: Senior leadership role
• Deloitte/CreditAccess Asia: Senior leadership position
• Infosys: Technology leadership role

His experience spans across diverse geographical markets including India, APAC, Europe, and the United States, providing him with a global perspective on technology implementation and digital transformation strategies.

Educational Qualifications and Certifications

Mr. Ithamraju holds an MBA in Systems from SP Jain School of Management, Singapore, demonstrating his strong academic foundation in technology and management. His professional credentials include multiple industry certifications that validate his technical expertise:

Strategic Impact

The appointment of Mr. Ithamraju as CDIO aligns with TeamLease Services' strategic focus on digital transformation and technology advancement. His extensive experience in building scalable digital platforms and leading technology teams positions him to drive significant technological improvements within the organization. His proven ability to enhance customer experience through technology solutions and his track record in business growth through digital initiatives are expected to contribute to the company's technological evolution.

The company formally communicated this appointment to both BSE Limited and National Stock Exchange of India Limited, ensuring full compliance with regulatory disclosure requirements under SEBI LODR Regulations, 2015.

TeamLease Services Limited has received an assessment order under the Karnataka Goods and Services Tax Act, 2017, with a penalty of ₹19,65,215 for the financial year 2021-22. The company disclosed this development on December 30, 2025, in compliance with SEBI listing regulations.

Assessment Order Details

The order was issued by the Office of the Deputy Commissioner of Commercial Taxes (Large Taxpayers Unit – LTU), Bengaluru, Karnataka, and received by the company on December 29, 2025. The assessment pertains to the period from April 2021 to March 2022.

Nature of Dispute

The assessment order confirms a demand against the exemption claimed by TeamLease Services for the supply of farm labour. The tax authority has disputed the company's classification of these services, arguing that:

• The supply falls under apprenticeship training rather than labour for agriculture operations
• The seeds produced by the customer do not qualify as agriculture operations
• The exemption claimed under the prescribed notification is not applicable

Company's Response and Financial Impact

TeamLease Services has stated that the order will have no material impact on its financials, operations, or other activities. The company has classified this as a contingent liability in its financial statements. The management plans to pursue recovery from customers by invoking indemnity clauses in declarations received from them.

Next Steps

The company has announced its intention to file an appeal with the appellate authority within the permissible timeline of three months from the date of receipt of the order. This gives TeamLease Services until March 29, 2026, to submit its appeal against the assessment order.

The disclosure was made in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant SEBI circulars dated July 13, 2023, and November 11, 2024.