Varroc Engineering Limited , a global tier-1 automotive component group, has officially concluded the postal ballot process for appointing Mr. Avinash Ramdas Chintawar as Additional Director and Whole Time Director. The company filed the results with stock exchanges under Regulation 30 of SEBI Listing Regulations on December 13, 2025.

Postal Ballot Results

The postal ballot process concluded on December 13, 2025, with exceptional shareholder support for Mr. Chintawar's appointment. The voting was conducted exclusively through remote e-voting facility provided by National Securities Depository Limited (NSDL).

Regulatory Compliance and Process

The company complied with all regulatory requirements under Section 110 of the Companies Act, 2013, and SEBI Listing Regulations. M/s. Uma Lodha & Co., Practicing Company Secretaries, Mumbai served as the scrutinizer for the postal ballot process. The remote e-voting period commenced on November 14, 2025, at 09:00 A.M. and concluded on December 13, 2025, at 05:00 P.M.

Appointment Details and Remuneration Structure

Mr. Chintawar's appointment as Additional Director (Executive, Non-independent) is valid until the next Annual General Meeting or until regularized by shareholders. His role as Whole Time Director spans three years from November 12, 2025, to November 11, 2028, now secured with shareholder approval.

Professional Background

Mr. Chintawar brings over four decades of distinguished leadership experience in the automotive and manufacturing sectors. Prior to joining Varroc Engineering, he served as Managing Director of Bosch Chassis Systems India Pvt. Ltd. from November 2018 to August 2025 and as Chairman of Bosch India Foundation from 2022 to 2025.

Career Highlights

Throughout his career, Mr. Chintawar has demonstrated strategic foresight and operational excellence:

• Enabled transition from Euro I to Euro VI emission norms in India by establishing advanced injector manufacturing capabilities
• Led multiple international projects, including setting up India's largest Export Oriented Unit (EOU)
• Pioneered road safety advancements through large-scale manufacturing of ABS and ESP systems
• Promoted green energy initiatives, including commissioning a 16MW solar power plant at Bosch's Nashik facility

Board Composition

With Mr. Chintawar's appointment now approved, Varroc Engineering's Board comprises eight members, including three Whole Time Directors and three Independent Directors. This strategic appointment strengthens the company's leadership team as it continues navigating the evolving automotive landscape and driving sector innovation.

Varroc Engineering Limited (VEL) has provided comprehensive updates regarding its Non-Convertible Debentures (NCDs) to the Bombay Stock Exchange (BSE). The company has submitted regulatory disclosures under SEBI Regulation 54(2) regarding security details as on December 31, 2025, while also clarifying the redemption structure of its existing NCDs.

Latest NCD Security Disclosure

In compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Varroc Engineering has disclosed the security details of its NCDs as on December 31, 2025. The disclosure was submitted to BSE on January 2, 2026, by Company Secretary & Compliance Officer Anil Ghatiya.

NCD Redemption Structure Clarification

VEL has also provided clarification to BSE regarding the redemption process of its NCDs, emphasizing a partial face value reduction approach rather than early full redemption. The company confirmed that redemption occurs through partial reductions in face value per NCD on scheduled record dates, as outlined in the original issuance terms.

Security and Compliance Framework

The NCDs are secured by way of exclusive charge on specific identified movable fixed assets of the company. The asset cover with respect to these NCDs, including interest obligations, maintains a ratio higher than the requirement of 1.10 times as specified in the Debenture Trust Deed. This provides additional security to NCD holders and demonstrates the company's commitment to maintaining adequate collateral coverage.

Implications for Stakeholders

These disclosures ensure transparency in Varroc Engineering's debt management strategy and regulatory compliance. The structured redemption approach allows for gradual debt repayment while maintaining the total number of NCDs constant at 25,000 units. Interest payments continue on the outstanding face value as per the original schedule, providing clarity to investors regarding their expected returns until the final maturity date in 2028.