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For the purpose of determining the Membership in Audit Committee / Stakeholders' Relationship Committee, all Public Limited Companies, whether listed or not, included debt listed, have been considered. 2. The number of membership in Audit and Stakeholders' Relationship Committee includes positions held as Chairperson. 3. Mr.Harish Lakshman (DIN:00012602), Chairman was appointed by the shareholders as Managing Director w.e.f. April 01, 2025 for a term of 5 years up to March 31, 2030. He was re-appointed pursuant to retirement by rotation by the Shareholders at their 21st Annual General Meeting held on August 05, 2025. Hence, the latest date of re-appointment is mentioned as August 05, 2025. 4. Mr.Ganesh Lakshminarayan (DIN:00012583) was re-appointed pursuant to retirement by rotation by the Shareholders at their 20th Annual General Meeting held on July 24, 2024. Hence, the date of re-appointment is mentioned as July 24, 2024. 5. Initial date of appointment of Mr.Vikram Taranath Hosangady (DIN:09757469) i.e. 16-03-2023 refers to his date of appointment as Non-Executive Non-Independent Director. He was subsequently appointed by the shareholders as a Non-Executive Independent Director w.e.f. May 28, 2025. Therefore, the tenure of director (in months) represents his completed tenure as an independent director.truetrueMrHARISH LAKSHMAN******00012602Executive DirectorChairperson related to PromoterMD1974-02-12falseActiveNA2004-03-312025-08-055331MrGANESH LAKSHMINARAYAN******00012583Non-Executive - Non Independent DirectorNot Applicable1954-03-18falseActiveNA2004-03-312024-07-243152MrPRADIP KUMAR BISHNOI******00732640Non-Executive - Independent DirectorNot Applicable1951-07-03falseActiveNA2016-10-242021-07-20110.84471MrN RAMESH RAJAN******01628318Non-Executive - Independent DirectorNot Applicable1957-07-05falseActiveNA2021-05-212021-05-2155.114453MrsVASUDHA SUNDARARAMAN******06609400Non-Executive - Independent DirectorNot Applicable1957-11-10falseActiveNA2022-06-292022-06-2942.32220MrVIKRAM TARANATH HOSANGADY******09757469Non-Executive - Independent DirectorNot Applicable1973-09-03falseActiveNA2023-03-162025-05-287.45552truetruetruetruetrueAudit Committee01628318N RAMESH RAJANNon-Executive - Independent DirectorChairperson2021-06-29Audit Committee00732640PRADIP KUMAR BISHNOINon-Executive - Independent DirectorMember2017-08-05Audit Committee00012583GANESH LAKSHMINARAYANNon-Executive - Non Independent DirectorMember2021-06-29Audit Committee06609400VASUDHA SUNDARARAMANNon-Executive - Independent DirectorMember2023-03-16Nomination and remuneration committee01628318N RAMESH RAJANNon-Executive - Independent DirectorChairperson2022-06-30Nomination and remuneration committee00732640PRADIP KUMAR BISHNOINon-Executive - Independent DirectorMember2023-03-16Nomination and remuneration committee00012583GANESH LAKSHMINARAYANNon-Executive - Non Independent DirectorMember2025-04-01Stakeholders Relationship Committee00012583GANESH LAKSHMINARAYANNon-Executive - Non Independent DirectorChairperson2025-04-01Stakeholders Relationship Committee01628318N RAMESH RAJANNon-Executive - Independent DirectorMember2021-06-29Stakeholders Relationship Committee00732640PRADIP KUMAR BISHNOINon-Executive - Independent DirectorMember2019-01-22Risk Management Committee00012602HARISH LAKSHMANExecutive DirectorChairperson2021-06-01Risk Management Committee00012583GANESH LAKSHMINARAYANNon-Executive - Non Independent DirectorMember2021-06-01Risk Management Committee01628318N RAMESH RAJANNon-Executive - Independent DirectorMember2024-02-15Corporate Social Responsibility Committee00012602HARISH LAKSHMANExecutive DirectorChairperson2021-06-29Corporate Social Responsibility Committee00012583GANESH LAKSHMINARAYANNon-Executive - Non Independent DirectorMember2014-03-20Corporate Social Responsibility Committee06609400VASUDHA SUNDARARAMANNon-Executive - Independent DirectorMember2023-03-162025-08-05true6642025-11-0490true664Audit Committee2025-08-05true4430Audit Committee2025-11-0490true3320Nomination and remuneration committee2025-08-05true3320Risk Management Committee2025-10-0964true3310truetruetruetrueYestruetruetrueThe report of previous quarter ended September 30, 2025 was placed before the Board at their meeting held on November 04, 2025. The report for the quarter ended December 31, 2025 will be placed at the ensuing Board meeting.S Subha ShreeCompany SecretaryfalseS Subha ShreeCompany SecretaryChennai2026-01-2501100Deputy commissioner (ST), Commercial Tax Department, Sanga Reddy 2 circle, Nizamabad DivisionOrder levying penalty under Section 73(9) of CGST/TGST Act, 20172025-10-20Under declaration of Ineligible ITC for FY 2018-19Tax demand of Rs.59,204/-, Penalty of Rs.20,000/- is payable by the Company.Office of Deputy Excise & Taxation Gurugram (West) , Excise & Taxation Department, HaryanaRecovery proceedings under Section 79 read with Rule 147 / 151 of GST Act, 20172025-11-24Launch of recovery proceedings by attaching bank account for non payment of GST, cess, interest and penalty of Rs.25,358/- for FY 2018-19.Company has paid the penalty of Rs.25,358/- on November 26, 2025 and the bank account was detached on November 27, 2025.Office of the Assistant Commissioner of Central Tax, Shamshabad GST DivisionOrder levying penalty under Section 73(1) of the CGST / TSGST Act, 2017 and Section 20 of the IGST Act, 2017.2025-12-05Excess availment of Input Tax Credit (ITC) in GSTR-3B compared to GSTR 2A/GSTR 2B/Table 8A of GSTR 9 for FY 2021-22.Order received levying tax demand of Rs.7,20,072/- and penalty of Rs.72,008/-. Considering the amount, the company has paid the tax demand and penalty on December 09, 2025.Deputy commissioner (ST), Commercial Tax Department, Sanga Reddy 2 circle, Nizamabad DivisionOrder levying penalty under Section 73(9) of CGST / TGST Act, 20172025-12-12FY 2017-18 1) Claiming of ITC from cancelled dealers, return defaulters & tax non payers 2) Under declaration of Ineligible ITCTax demand of Rs.31,666/- & Penalty of Rs.20,000/- was paid by the Company on December 15, 2025.Deputy commissioner (ST), Commercial Tax Department, Sanga Reddy 2 circle, Nizamabad DivisionOrder levying interest under Section 50 & penalty under Section 73(9) of TGST Act, 20172025-12-12Availment of excess SGST transitional credit for FY 2017-18SGST tax demand of Rs.3,75,210/- along with Penalty of Rs.37,521/- and applicable interest is payable by the Company.Deputy commissioner (ST), Commercial Tax Department, Sanga Reddy 2 circle, Nizamabad DivisionOrder levying penalty under Section 73(9) of CGST / TGST Act, 20172025-12-12FY 2019-20 1) Claiming of ITC from cancelled dealers, return defaulters & tax non payers 2) Excess ITC availment of ISD creditTax demand of Rs.20,264/- & Penalty of Rs.30,000/- was paid by the Company on December 15, 2025.Deputy commissioner (ST), Commercial Tax Department, Sanga Reddy 2 circle, Nizamabad DivisionOrder levying under interest Section 50 & penalty Section 73(9) of CGST / TGST Act, 20172025-12-12FY 2020-21 Claiming of excess ITC on ineligible expensesTax demand of Rs.96,522/-, Interest Rs. 74,827/- & Penalty of Rs.9,652/- was paid by the Company on December 15, 2025.Assessment Unit, Income Tax Department, ChennaiOrder levying penalty under Section 270A of the Income Tax Act, 19612025-12-29Levy of penalty at 50% of Rs.2.38 lakhs towards the transfer Pricing adjustment of Rs.6.9 lakhs for FY 2021-22Penalty of Rs.2.38 lakhs is payable under Section 270A of the Income Tax Act, 1961. However, the Company would be contesting the order before the appropriate authority.Office of Superintendent of CGST & Central Excise, Range III, Ambattur Division, Chennai North CommissionerateOrder levying interest under Section 50 of CGST / TNGST Act, 2017, Section 20 of IGST Act, 2017 and penalty under Section 74(9) read with Section 122(2)(b) of the CGST/SGST Act, 20172025-12-29Generation of multiple E-Way bills using the same invoices resulting in short payment of tax amounting to Rs. 7,61,464/- for the FY 2018-19The company has now received an order for Rs.3,80,732/- as tax demand with equivalent penalty and applicable interest as against the original demand of 7,61,464/- with equivalent penalty and applicable interest. The Company would be contesting the order before the appropriate authority.Deputy commissioner (ST), Commercial Tax Department, Sanga Reddy 2 circle, Nizamabad DivisionOrder levying interest under Section 50 & penalty under Section 73(9) of CGST / TGST Act, 20172025-12-29FY 2021-22 1) Under declaration of tax liability declared in GSTR-3B as compared to GSTR-1. 2) Requirement to pay tax for cess ITC availed duing the financial year 3) Short payment of tax due to under-reporting in GSTR 3B 4) Availing ineligible ITCTax demand of Rs.4,26,133/-, Interest 2,80,731 & Penalty of Rs.57,979/- is payable by the Company.Deputy Commissioner of Income Tax, Large Tax Payer Unit, Chennai2010-12-24Company: Rane (Madras) Limited Period: AY 2008-09 Brief Description of the Dispute: Disallowance of commission paid, purchase of castings/forgings, Capital Gains under Sec. 54G, MTM loss and logistics services and support charges Current Status: Company has filed appeal before Commission of Income Tax (Appeals) Disputed amount: Rs.6.46 CroresNo change in status. Appeal is pending.Deputy Commissioner of Income Tax, Large Tax Payer Unit-2, Chennai2016-12-28Company: Rane (Madras) Limited Period: AY 2014-15 Brief Description of the Dispute: Disallowance of deduction claimed under section 80-IC, additional depreciation, Marketing services, warehousing & logistic services, deduction u/s 352AB, depreciation on goodwill Current Status: Company has filed appeal before Commission of Income Tax (Appeals) Disputed amount: Rs.2.03 CroresNo change in status. Appeal is pending.Assistant Commissioner of Income Tax, Circle-2, Large Tax Payer Unit, Chennai2018-02-06Company: Rane (Madras) Limited Period: AY 2016-17 Brief Description of the Dispute: Disallowance of deduction claimed under Marketing services, warehousing & logistic services, deduction u/s 352AB, depreciation on goodwill Current Status: Company has filed appeal before Commission of Income Tax (Appeals) Disputed amount: Rs.2.13 CroresNo change in status. Appeal is pending.Additional / Joint / Deputy / Assistant Commissioner of Income Tax / Income-tax Officer, National e-Assessment Centre, Delhi2021-06-02Company: Rane (Madras) Limited Period: AY 2017-18 Brief Description of the Dispute: Disallowance of deduction claimed under Marketing services, warehousing & logistic services, corporate guarantee commission, depreciation on goodwill Current Status: Company has filed appeal before Commission of Income Tax (Appeals) Disputed amount: Rs.2.37 CroresThe Company attended the hearing during the quarter. Appeal is pending with Commission of Income Tax (Appeals).Additional / Joint / Deputy / Assistant Commissioner of Income Tax / Income-tax Officer, National e-Assessment Centre, Delhi2023-05-25Company: Rane (Madras) Limited Period: AY 2020-21 Brief Description of the Dispute: TP adjustment - corporate guarantee commission, deduction u/s 352AB, depreciation on goodwill Current Status: Appeal pending before Commission of Income Tax (Appeals) Disputed amount: Rs.2.64 CroresThe Company attended the hearing during the quarter. Appeal is pending with Commission of Income Tax (Appeals).Income Tax Department2023-06-14Company: erstwhile Rane Engine Valve Limited Period: AY 2015-16. Brief Description of the Dispute: Re-assessment order was passed adding Rs.7.27 Crs to Income due to incomplete documentary evidence. Current Status: Appeal pending before National Faceless Appellate Center(NFAC). Disputed amount: Rs.0.64 Crores.No change in status. Appeal is pending. Appeal pending before National Faceless Appellate Center (NFAC).Income tax department (National Faceless Assessment Centre)2023-01-13Company: erstwhile Rane Brake Lining Limited Period: AY 2021-22 Brief Description of the Dispute: Classification of expenditure into revenue and capital, applicability of withholding tax on payments made to foreign entities. Current Status: Company has filed an appeal before National Faceless Appeal Centre (NFAC) Disputed amount: Rs.3.45 CroresNo change in status. Order awaited.Income tax department (National Faceless Assessment Centre)2024-01-27Company: erstwhile Rane Brake Lining Limited Period: AY 2022-23 Brief Description of the Dispute: Classification of expenditure into revenue and capital, applicability of withholding tax on payments made to foreign entities. Company has filed an appeal before National Faceless Appeal Centre (NFAC) Disputed amount - Rs.2.60 CroresOrder passed by Commissioner of Income Tax in favour of the Company on October 28, 2025 redirecting the Assessing Officer to revise the intimation under Section 143(1) of the Income Act, 1961.Additional Commissioner, Office of the Commissioner of GST & Central Excise, Chennai South Commissionerate, Tamilnadu2025-03-20Company: erstwhile Rane Brake Lining Limited Period: 15.11.2017 to 30.06.2018 Brief Description of the Dispute: Alleging wrong classification of goods resulting in short payment of GST amounting to Rs.19.35 Crs for the period 15.11.2017 to 30.06.2018. The differential tax was paid subsequently on March 15, 2019 under protest. Writ petition filed in The Hon'ble Madras High court on March 20, 2025. Current Status: Hon'ble Madras High court granted stay on April 15, 2025 and asked department to file the response.No change in status. Appeal pending.Additional Commissioner, Office of the Commissioner of Central Tax and Central Excise, Audit- I Commissionerate, Chennai2025-06-30Period: 2018-19 to 2023-24 Brief Description of the Dispute: Show cause notice issued for excess / wrong availment of ITC, Short payment of Tax, ITC availed on blocked credit, other miscellaneous relating to Job work procedure, applicability of RCM etc. Disputed amount: Rs.22.64 Crores Current Status: The Company has filed its reply within the prescribed timeline and is waiting personal hearing.The Company represented with relevant details towards original demand of Rs.22.64 Crores. On December 30, 2025, an order for Rs.12.23 crores as tax demand with equivalent penalty and applicable interest. The Company would be contesting the order before the appropriate authority.Principal Commissioner of CGST and Central Excise, Chennai North2025-09-30Period: April 2021 – March 2022 Brief Description of the Dispute: Show Cause notice towards tax demand on excess / wrong availment of ITC, Non reversal of ITC on ineligible credits and short payment of tax. Disputed amount: Rs.2.39 CroresThe Company represented with relevant details towards original demand of Rs.2.39 Crores. On December 31, 2025, the Company has received an order for Rs.0.39 crores towards tax demand with applicable interest and penalty of Rs.0.04 Crores in connection with non-reversal of Input tax credit (ITC) as per the credit notes reflected in GSTR - 2A. The Company would be contesting the order before the appropriate authority.