Shareholders approve two director appointments, borrowing-power increase and charge creation

Mr. Vipin Garg as Nominee Director of Maruti Suzuki India Ltd (Non-Executive, Non-Independent).

Fri 9 Oct 2026

Nominee Director Approved

Mr. Vipin Garg as Nominee Director of Maruti Suzuki India Ltd (Non-Executive, Non-Independent)

Independent Director Approved

Mr. Arvind Kapur as Independent Non-Executive Director for 5 years

Borrowing Powers Approved

Rise in borrowing powers and creation of charges on company properties

Two director appointments and two enabling resolutions cleared

Bharat Seats has informed the stock exchanges that its shareholders approved four items through a postal ballot, the results of which were announced on October 09, 2026. The approvals cover two board appointments and two resolutions linked to the company's borrowing and asset-charge powers.

Appointments to the board

• Mr. Vipin Garg has been appointed as Nominee Director of Maruti Suzuki India Limited, in the Non-Executive and Non-Independent Director category. He is 54 years old, has been associated with Maruti Suzuki India Limited since 1993 and currently heads its Quality Assurance vertical and the Rohtak R&D Centre. He holds Nil shares in the company and is liable to retire by rotation.
• Mr. Arvind Kapur has been appointed as an Independent and Non-Executive Director for a term of five years, with effect from October 9, 2026 to October 8, 2031. He is 76 years old, is the Promoter, Chairman and Managing Director of Rico Auto Industries Limited, and has over 45 years of experience in the automotive industry.

Both appointees hold Nil shares in the company, are not related to any Director, and are not debarred from holding the office of Director by virtue of any order issued by SEBI or any other authority.

The other two resolutions

• Enhancement of the borrowing powers of the company under Section 180(1)(c) of the Companies Act, 2013.
• Creation of charges, mortgages and hypothecation on the immovable and movable properties of the company under Section 180(1)(a) of the Companies Act, 2013.

What these mean for a retail shareholder

Section 180 resolutions are shareholder permissions given to the board. The first allows the board to borrow beyond the threshold set in law, and the second allows the board to create security over the company's properties for such borrowings. These are enabling approvals that give the board room to arrange financing when required, rather than a loan or a charge already in place.

How the announcements can be seen

• A nominee of Maruti Suzuki India Limited on the board keeps the company's key business relationship represented at board level.
• An independent director with long experience in the automotive industry adds to board oversight and diversity of experience.
• The borrowing and charge resolutions provide the board with headroom on the financing side, which investors can track through future disclosures on actual borrowings and charges created.

All four items were approved by shareholders, which is the outcome reported here.

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