Veedol Corporation Limited has issued a postal ballot notice dated February 13, 2026, seeking shareholder approval for the appointment of Shri Kulbhushan Malhotra as a Non-Executive Director. The company has initiated the process to formalize his appointment through remote electronic voting, following regulatory requirements under SEBI listing obligations.

Director Appointment Details

The postal ballot seeks approval for the appointment of Shri Kulbhushan Malhotra (DIN: 11507259) as a Non-Executive and Non-Independent Director of the company. The Board of Directors had initially appointed him as an Additional Director on February 3, 2026, based on the recommendation of the Nomination and Remuneration Committee.

Professional Background

Shri Kulbhushan Malhotra brings extensive experience in government service spanning over 34 years. His professional qualifications include an M.A. in Public Administration from Indira Gandhi National Open University (IGNOU) and a Bachelor of Administration from University of Delhi.

Key Professional Highlights:

• Currently serving as Deputy Secretary in the Ministry of Heavy Industries since October 2025
• Previously served as Under Secretary in the Ministry of Communications, Department of Telecommunications, for over two years
• Worked in the Department of Personnel & Training (DoPT) for more than nine years
• Acts as Nominee Director on the Board of Andrew Yule and Company Limited
• Expertise encompasses policy formulation, implementation, operations, human resource management, and financial administration

E-Voting Process and Timeline

The company has appointed Shri Manoj Prasad Shaw, Practicing Company Secretary (FCS No. 5517), as the Scrutinizer to conduct the postal ballot process. The voting will be conducted exclusively through remote e-voting using NSDL's platform.

Shareholder Eligibility and Communication

Only shareholders whose names appear in the Register of Members or beneficiaries' list of Depositories as on the cut-off date of February 6, 2026, are eligible to vote. The postal ballot notice is being sent exclusively through electronic mode to shareholders who have registered their email addresses with the company, its Registrar and Transfer Agent (Maheshwari Datamatics Pvt Ltd), or depositories.

Important Notes for Shareholders:

• Hard copies of the postal ballot notice will not be sent
• Shareholders must vote through remote e-voting only
• The notice is available on the company's website at www.veedolindia.com
• Voting rights will be proportionate to shareholding in the paid-up equity share capital

Regulatory Compliance

The appointment seeks to comply with Regulation 17(1C)(a) of SEBI Listing Regulations, which requires listed entities to obtain shareholder approval for board appointments at the next general meeting or within three months from the appointment date, whichever is earlier. The company has received the requisite notice under Section 160 of the Companies Act, 2013, proposing Malhotra's candidature for directorship.

Results and Disclosure

The voting results will be communicated to stock exchanges (NSE and BSE) within 48 hours of the e-voting conclusion. Results will also be made available on the company's website, NSDL's e-voting portal, and displayed at the company's registered office. The Scrutinizer's decision on vote validity will be final, and if approved by requisite majority, the resolution will be deemed passed on March 17, 2026.

Veedol Corporation Limited has received credit rating affirmation from CARE Ratings Limited for its comprehensive bank facilities portfolio. The company disclosed the rating assignment on February 5th, 2026, in compliance with SEBI regulations for listed entities.

Credit Rating Details

CARE Ratings Limited has affirmed strong credit ratings for Veedol Corporation's bank facilities across different categories:

The ratings are valid for a period of one year from the date of initial communication, effective from January 02, 2026.

Banking Relationships and Facility Structure

The company maintains diversified banking relationships across multiple leading financial institutions. The long-term facilities of ₹12.00 crore comprise cash credit arrangements with HDFC Bank Limited (₹8.00 crore) and Union Bank of India (₹4.00 crore).

The long-term/short-term facilities totaling ₹87.00 crore are distributed among:

Regulatory Compliance and Disclosure

The rating disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI circular dated July 13th, 2023. The company has made the rating information available on its website at www.veedolindia.com for stakeholder reference.

CARE Ratings reserves the right to undertake surveillance and review of the rating periodically, with at least one review annually. The rating reflects the agency's assessment of the company's creditworthiness and ability to service its debt obligations in a timely manner.

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