Times Green Energy Confirms Auditor Appointment and Bonus Share Details

Times Green Energy (India) Limited's board of directors convened on February 05, 2026, to approve several significant corporate decisions including a bonus share issuance, auditor changes, and postal ballot arrangements. The meeting, held at the company's registered office from 05:00 P.M. to 06:00 P.M., addressed key governance and capital structure matters requiring shareholder approval. Bonus Share Issuance Confirmation The board has confirmed the 1:1 bonus share issuance, proposing to issue one new fully paid equity share for every existing fully paid-up equity share held by shareholders. This bonus issue remains subject to shareholder approval through postal ballot. Parameter: Details Bonus Ratio: 1:1 Total Shares to be Issued: 27,87,200 equity shares Face Value per Share: ₹10.00 Total Issue Value: ₹2,78,72,000 Expected Credit Date: On or before April 05, 2026 The bonus shares will be issued through capitalization of the company's free reserves, Securities Premium Account, and credit balance in the Profit and Loss Account. The company reported Reserve & Surplus of approximately ₹32,51,46,000 as on March 31, 2025, providing adequate coverage for the proposed bonus issue. Share Capital Structure Changes The bonus issuance will significantly alter the company's capital structure, doubling the number of outstanding shares while maintaining the same face value. Capital Structure: Pre-Bonus Post-Bonus Paid-up Share Capital: ₹2,78,72,000 ₹5,57,44,000 Number of Equity Shares: 27,87,200 55,74,400 Face Value per Share: ₹10.00 ₹10.00 Statutory Auditor Appointment Details The board accepted the resignation of VASG & Associates as statutory auditor, effective February 05, 2026, and formally appointed TRAK & Associates to fill the casual vacancy. The company has issued detailed disclosure under Regulation 30 of SEBI Listing Regulations regarding this auditor change. Auditor Transition: Details Outgoing Auditor: VASG & Associates Resignation Date: February 05, 2026 Incoming Auditor: TRAK & Associates Firm Registration Number: 017290S Appointment Duration: Until conclusion of ensuing AGM Appointment Basis: Audit Committee recommendation Auditor Profile and Expertise TRAK & Associates is a registered chartered accountancy firm with the Institute of Chartered Accountants of India, maintaining offices in Hyderabad, Chennai, and Kadapa. The firm operates with experienced and dynamic partners offering comprehensive professional services. Service Areas: Details Core Services: Finance, funding, accounting, audits Taxation: Direct and indirect taxation Compliance: Regulatory compliance and advisory Consulting: Strategic consulting across industries Approach: Technology-driven, timely solutions The firm focuses on integrity, transparency, and value creation, partnering with businesses across diverse industries to support growth, compliance, restructuring, and informed decision-making through tailored solutions. Postal Ballot and Scrutinizer Appointment The board appointed Jigar Kumar Gandhi, a practicing Company Secretary (FCS 7569, CP 8108), as scrutinizer for the postal ballot process. Gandhi will oversee the e-voting process to ensure fair and transparent shareholder voting on the proposed resolutions. The company will seek shareholder approval through postal ballot for the bonus share issuance and new auditor appointment, with detailed notices to be dispatched to eligible shareholders as per regulatory requirements under SEBI listing obligations. Times Green Energy (India) Limited announced significant board changes and policy revisions following its board meeting held on January 20, 2026. The meeting, conducted at the company's registered office, addressed key appointments and strategic decisions under SEBI regulations. Board Appointments and Changes The board approved several important personnel changes during the meeting. Key appointments and cessations are detailed below: Position Name Action Effective Date Independent Director Mr. Divaker Nandanam (DIN: 07547321) Appointment January 20, 2026 Independent Director Mrs. Padma Priyanka Vangala (DIN: 02519137) Cessation October 21, 2025 Company Secretary Mr. Mahavir Kumar Jain Appointment January 20, 2026 Company Secretary Mr. Abhishek Reddy Rachur (A45303) Cessation January 01, 2026 New Independent Director Profile Mr. Divaker Nandanam brings practical business experience to the board. His appointment details include: Parameter Details Qualification Diploma in Mechanical Engineering Experience Business operations management and technical supervision Expertise Areas Operational planning, vendor coordination, administrative management Term Until ensuing General Meeting Director Relationships Not related to any existing company director The appointment is designated as Additional Non-Executive Independent Director and remains subject to shareholder approval. Company Secretary Appointment Mr. Mahavir Kumar Jain assumes the role of Company Secretary and Compliance Officer with substantial professional credentials: Professional Qualification: Associate Member of Institute of Company Secretaries of India (ICSI) Experience: Over 8 years in legal and regulatory roles Expertise: Corporate governance and compliance management Independence: No relationships with existing company directors Debenture Interest Rate Revision The board exercised powers under the Special Resolution passed in the Annual General Meeting held on September 13, 2022, to revise Non-Convertible Debenture terms: Parameter Previous Rate Revised Rate Interest Rate 12.00% per annum 18.00% per annum Issuance Basis Private placement Private placement Authorization Section 42, Companies Act 2013 Section 42, Companies Act 2013 This revision represents a 6.00 percentage point increase in the interest rate for the proposed private placement of Non-Convertible Debentures. Meeting Details and Compliance The board meeting commenced at 04:30 PM and concluded at 05:00 PM on January 20, 2026. All decisions were made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company has provided detailed annexures containing comprehensive information about the new appointments as required under SEBI regulations, ensuring full transparency and regulatory compliance. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. 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