Shanthi Gears Ltd. — Proxy Solicitation & Information Statement 2025

Aug 19, 2025

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SGL-22/Sec/2025-26 19[th ] August, 2025

National Stock Exchange of lndia Ltd BSE Limited Exchange Plaza, 5[th] Floor 1[st] Floor Plot No.C-1, Block G New Trading Ring, Rotunda Building Bandra-Kurla Complex P J Towers, Dalal Street Bandra (E), Fort, Mumbai - 400 051 Mumbai - 400 001

Stock Code: SHANTIGEAR Stock Code: 522034 Through NEAPS Through BSE Listing Centre

Dear Sir / Ma’am,

Sub: Publication of Newspaper Advertisement - Notice of Postal Ballot & E-Voting

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Further to our letters dated 30[th] July, 2025 & 18[th] August, 2025, we enclose a copy of each of the advertisements published on 19[th] August, 2025 in the "Dinamani" (Tamil) and the "Business Line" (English) newspapers respectively pursuant to the relevant provisions of the Companies Act 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 relating to the Notice of Postal Ballot & E-Voting.

This is for your kind information and records.

Thanking you,

Yours faithfully,

For Shanthi Gears Limited

JOSEPH DEVA Digitally signed by JOSEPH DEVA SAGAYAM SAGAYAM PITCHAI PITCHAI PILLAI WALTER PILLAI WALTER VASANTH VASANTH Date: 2025.08.19 11:09:38 +05'30'

Walter Vasanth P J Company Secretary & Compliance Officer

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ù N uû] , BL. 18: ù N uû] ùTÚ S LW Y[ o f £ d ÏÝ U m Nô o © p ùLô[ j ç o, §Ú. ®.L. SL o U i P X l TÏ § L ° p úU t ù Lô s [ l T hÓ YÚ m § hP l T¦ Lû[ Aû U f N o ©.ú L. ú N L o Tô× § e L s ¡ ZûU B nÜ úU t ù Lô i Pô o. ùN uû] ùTÚ S LW Y[ o f £ d ÏÝ U m Nô o © p (£G m ¥H) YP ù N u û ] l TÏ § « p ì.200 ú Lô ¥ d Ï m úUXô] Y[ o f £ j § hP e L s ùNV p T Ó j R l T h Ó s [] . úTÚ kÕ ¨û X V m, ØR p Y o Tû P l T L m E s ° hP § hP e L Þ d Lô] T¦ L s ùRôP e¡ Sû P ù T tß YÚ ¡ u \ ] . A k R l T¦ L ° p ùLô[ j ç o N hP l ú T W û Y j ùRôÏ § « p Wô_ ô ú Rô h P m TÏ § « p Rª r SôÓ SL o l ×\ Yô r ®P úU m Tô hÓ Yô¬ V m Nô o © p קV Ï¥ « Ú l × L s L hP l T hÓ YÚ ¡ u \ ] . A j Õ P u §Ú. ®.L. SL o úTÚ kÕ ¨û X V m ùT¬ Vô o SL o úTÚ kÕ ¨û X V m B¡ V Y t ± u T¦ L Þ m ¨û \ Y û P Ù m ¨û X « p E s [Õ. ùTÚ S LW Y[ o f £ d ÏÝ U m Nô o © p Sû P ù T tß YÚ m C k R l T¦ Lû[ C kÕ NUV A\ ¨ û X V j Õû\ Aû U f N Ú m, ùTÚ S LW Y[ o f £ d ÏÝ U j § u Rû X Y Ú Uô] ©.ú L. ú N L o Tô× § e L s ¡ ZûU Tô o û Y « hÓ B nÜ ùN n Rô o. A l ú TôÕ, ùLô[ j ç ¬ p Aû U d L l T Ó m £ß ®û [ Vô hÓ AW e L l T¦ L û [ l Tô o û Y « hÓ AY t ± u ¨û XûV A§ Lô ¬ L ° P m úL hP ± k Rô o. Y[ o f £ j § hP l T¦ Lû[ ®û W kÕ Ø¥ dL J l T k R Rô W o L Þ dÏ Aû U f N o A± Ü ß j § ] ô o. B n ® u ú TôÕ, ùN uû] ùTÚ S LW Y[ o f £ d ÏÝ U j § u Eß l © ] o ùNV X o U t ß m ØR u û U f ùNV X o ´.© W Lô x, Rª r SôÓ SL o l ×\ Yô r ®P úU m Tô hÓ Yô¬V úUXô iûU CV d Ï S o vú WVô ©.£ e, UôS L Wô h£ Y hPô W j ÕûQ Bû Q V o G f. B o. ù Lü £ d E s ° h ú Pô o EP ² Ú k R ] o.

"E e L Þ P u vPô # u': C uß 12 Yô o Ó L ° p ØLô m ù N uû] , BL.18: ù N uû] UôS L Wô h £ « p E e L Þ P u vPô # u £\ l× ØLô m L s ùN q Yô n d ¡ ZûU (BL.19) 12 Yô o Ó L ° p Sû P ù T ß m G] A± ® d L l T h Ó s [Õ. CÕ Ï ± jÕ ùTÚ S LW ùN uû] UôS L Wô h£ ®Ó j Õ s[ ùN n § d Ï ± l×: ùN uû] UôS L Wô h £ l TÏ § L ° p E e L Þ P u vPô # u £\ l× ØLô m §Ú ù Y ôt ± ë o U i P X j § p 9 BYÕ Yô o ¥ p §Ú ù Yô t ± ë o ùSÓ g Nô û X « p E s[ ùLü¬ B£ W U j § Û m, UôR Y W m U i P X j § p 23 BYÕ Yô o ¥ p úU tÏ LôYô e L û W « p E s[ Wô¦ N e Ï T§ §Ú UQ U i P T j § Û m, R i û P Vô o úT hûP U i P X j § p 36 BYÕ Yô o ¥ p ®Vô N o Tô¥ 2 BYÕ ©W Rô] NôûX N oUô SL ¬ Û m, WôV × W m U i P X j § p 52 BYÕ Yô o ¥ p Tû ZV Y i Qô W l ú T hûP ùUô hû P j úRô hP j § p E s[ Tì d Uaô # Û m, §Ú. ®. L. S L o U i P X j § p 78 BYÕ Yô o ¥ p ×W û N Y Nô d L m, ùTW m é o úTW d v Nôû X « p E s[ X hѪ Uaô # Û m, A m T j ç o U i P X j § p 81 BYÕ Yô o ¥ p G v. G m. ú L. § Ú UQ U i P T j § Û m ØLô m L s Sû P ù T \ Ü s [] . A i Qô S L o U i P X j § p 104 BYÕ Yô o ¥ p A i Qô S L o úU tÏ G u. ®. G u. SL ¬ p E s[ _ Y ôa o Xô p úSÚ 100 A¥ f Nôû X « Û s[ Rª r SôÓ SL o l ×\ Yô r ®P úU m Tô hÓ Yô¬ V d Ï¥ « Ú l © Û m, úR] ô m ú T hûP U i P X j § p 113 BYÕ Yô o ¥ p §Vô L Wô V o SL ¬ u a© × pXô Nôû X « p E s[ G v. £. G v. N Tô ® Û m, úLôP m Tô d L m U i P X m 142 BYÕ Yô o ¥ p ûNRô l ú T hûP Wô w §û W V W eL Y[ô L j § Û m, Y[ N W Yô d L m U i P X m 147 BYÕ Yô o ¥ p L e Lô S L o úU hÓ d Ï l T m Nôû X « p E s[ aà ù W h¥ Lô o P u Y[ô L j § Û m, BX k ç o U i P X m 158 BYÕ Yô o ¥ p S k R m Tô d L m, ùUüi h é k R U p # « p ùN uû] Y o j RL ûUV m G§ ¬ p E s[ I¥ © G p ¨X m TÏ § « Û m, Aû P Vôß U i P X j § p 174 BYÕ Yô o ¥ p ùTN u h SL o, Nô v § ¬ S L o 5}BYÕ Ïß d Ï j ùRÚ ® p E s[ NØ Rô V d áP j § Û m G] ùUô j R m 12 Yô o Ó L ° p E e L Þ P u vPô # u £\ l× ØLô m L s Sû P ù T \ Ü s [] G] d Ï ± l © P l T h Ó s [Õ.

Tû ZV K n î § V j § hP m: ùN uû] II¥ } G v ©I A\ d L h Pû[ Nô o © p AW Ñ d ÏÝ ® P m F¯ V o N e L e L s L¥ R m TôWô RP L[ ®û [ Vô hÓ ER ® j ù RôûL § hP m ù N uû] , BL. 18: Tû ZV K n î § V j û W d ùLô iP ÏÝûY Rª ZL AWÑ ù N uû] , BL. 18: ù N uû] ÅW o Lû[ úU m T Ó j Õ m Yû L ÅW o L Þ dÏ RXô ì.40,000 Uô II¥, TôWR vúP h Y e¡ « p, ùN uû] II¥, G v ©I Rô k §W ER ® j ù RôûL YZ e § hP j û R f ùNV p T Ó j Õ YÕ Ï± jÕ Aû U j Õ s [Õ. A \ d L h P û [ Ù P u A\ d L h Pû[ Cû Q kÕ L l T Ó m. BWôV Aû U d L l T hP AW Ñ d ÏÝ ® úUÛ m A§ p ©W j § d RVô s, Eß l Cû Q kÕ Uô t ß j § \ ] ô° ùRôP e ¡ Ù s[ TôWô} R P L[ Uô t ß j § \ ] ô° ÅW o L P m F¯ V o N e L e L s LÚ j Õ L û [ j © ] o ùNV X WôL ¨V ª d L l T h Ó s [ô o. ÅW o L Þ d Lô] RP L[ ®û [ ®û [ Vô hÓ ER ® j ù RôûL ° u L] Ü Lû[ S] Yô d L Ü m, ùR¬ ® j R] . úUÛ m, L¥ R e L s Yô« LP kR © l WY¬ UôR m Aû U d L l T hP Vô h Ó L Þ dÏ ER ® j ù RôûL § hP m ùRôP e L l T h Ó s SUÕ úRN j § tÏ ùTÚûU Xô L Ü m úLô¬ d û L Lû[ Ø u û Y j Õ s C k R d ÏÝ R] Õ ®¬ Yô] A± dûL U t [] . A° d Ï m § hP j û R j [Õ. úN o d L Ü m C k R j § hP m ER ß m T¬ k Õ û WûV 9 UôR e L Þ d Ï s AW ùRôP e ¡ Ù s [Õ. C j § h P j § p úR oÜ ùN n ® VôL CÚ d Ï m G uß G v Rª ZL AW Ñ l T¦ Vô [ o L s R e L £ P m NU o l © dL úY i Ó m G uß A± CÕ Ï ± jÕ ùN uû] II¥ V l T Ó m ÅW o L Þ dÏ, úR£V ©I A\ d L h Pû[ ¨ o YôL Þ dÏ 2003} Bm B iÓ H l W p 1} k ú R Ü ß j R l T h Ó s [Õ. ùY° « h Ó s[ ùN n § d U t ß m N o Y ú RN A[ ® Xô] CV d Ï S Ú m Rû XûU ¨ o YôL § dÏ Ø u× CÚ kR Tû ZV K n î §V Cû R V Ó jÕ, AWÑ F¯ V o L s, B£ § hP jûR ùNV p T Ó j Õ m T¥ AW Ñ dÏ ¬ V o L s N e L e L °u ©W § ¨ § Lû[ ϱ l×: SôÓ ØÝ Y Õ m E s[ ®û [ Vô h Ó L ° p T e ú L t A§ Lô ¬ Ù Uô] N g N n ©W úR o k ù R Ó d L l T hP 100 Uô t TûR F d Ï ® d Ï m Yû L « p Lô x ϱ l © h Pô o G] A§ p ùRôP o kÕ úLô¬ d û L L s ®Ó jÕ YÚ Aû Z j Õ l úTN C k R d ÏÝ Ø¥Ü ßj§]ô° ®û[VôhÓ T« t£ A° d L l T Ó m. C§ p, ùR¬ ® d L l T h Ó s [Õ. ¡ u \ ] o. §ØL R] Õ úR o R p A± d û L ùN n Õ s [Õ. CR u T¥, § e L s ¡ « p AR t Lô] Yô d Ï ß §ûV A° jÕ ZûU (BL.19) ùRôP e¡ BL.25 U t CÚ k RÕ. ß m ùN l.1, 8}B m úR§ L ° p LôûX 11 AR u A¥ l T û P « p Tû ZV K n î U¦ dÏ, Rû X û U f ùNV X L m SôU d L p § V m ϱ jR A± ® lûT EP ] ¥ VôL L® O o Uô° û L « u 10}BÕ Uô¥ « p AWÑ A± ® dL úY i Ó m G uß AWÑ E s[ á hP AWe L j § p AWÑ F¯ V o F¯ V o L s, B£ ¬ V o L s úLô¬ dûL L s, B£ ¬ V o L s N e L e L ° u ©W § ¨ § ®Ó jÕ YÚ ¡ u \ ] o. L ° P m LÚ jÕ úL hL l T Ó m G] A± CR ² û PúV, LP kR _ ] Y¬ 24} Bm ® d L l T h ¥ Ú k RÕ. ú R§ U j §V AW Ñ l T¦ Vô [ o L Þ d CR u T¥, ùN uû] Rû X û U f Lô] JÚ e ¡ û Q kR K n î § V j § hP m ùNV X L j § p E s[ SôU d L p L® O o ϱ jR A± ® d û LûV U j §V AWÑ Uô°ûL 10}YÕ R[ j § p § e L s ¡ ùY° « h PÕ. ZûU (BL.18) Sû P ù T t \ áhPj§p TûZV K n î § V j § hP m, T e L ° l× Rª r SôÓ Rû X û U f ùNV XL N e L m E s K n î § V j § hP m U t ß m U j §V AW TP 10 N e L e L s C§ p T e ú L t \ ] . N e £ u JÚ e ¡ û Q kR K n î § V j § hP m L e L ° u J q ù YôÚ ©W § ¨ § d Ï m RXô B¡V 3 K n î § V j § hP e L s ϱ j 3 ¨ª P e L s úTN Aà U§ A° d L l T h Õ m ®¬ YôL BWô n Y R tÏ Rª ZL AWÑ PÕ. J q ù YôÚ N e L Ø m Tû ZV K n î Ø¥Ü ùN n RÕ. AR tLôL FWL Y[ o f §V § hP jûR ùRôP o kÕ Y# Ù ß j § £ j Õû\ áÓ R p Rû X û U f ùNV X o ] o. úUÛ m, A k R kR N e L j § u úLô¬ d LL u ¾ l £ e úT¥, ùU hWô v vá p û L Lû[ Uà YôL ÏÝ ® P m A° j R B l GL ] ô ª d v Ø u ] ô s CV d Ï S o ] o. LôûX 11 U¦ d Ï j ùRôP e ¡V úL.B o. N i Ø L m U t ß m ¨§ j Õû\ LÚ jÕ úL h× d á hP m © t T L p 2.15 ÕûQ ùNV X o ©W j § d RVô s B¡ ú Vô U¦ YûW Sû P ù T t \ Õ.

RôU R ª u± W« p ¨û X V j § p 3 ÏZ k û R L s Á h× ù N uû] , BL. 18: ùN uû] û RûV W« púY TôÕ Lô l × l CÚ kÕ § e L s ¡ ZûU C\ d ¡ קV ª u Cû Q l × Lû[ TWe¡UûX W« p ¨û X V j § p ©¬Ü B n Yô [ o N g º ® Wô_ ô ® P l T hP ê u \ ûW YV Õ s[ YZ eL E j R WÜ ùT t ú \ ô Wô p 3 ÏZ k û R Lû[ W« púY TôÕ ûL® P l T hP Á hÓ BX k ç o ÏZ k û R L s Lô l T L j § p úN o j Rô o. B i ÏZ kûR U t ß m 4 YV Õ s[ 2 ùT i ÏZ k û R L s R² ùN uû] , BL. 18: ¿ i P LôX ª u E t Lô l × l ©¬ ® ] o § e L s ¡ ZûU úUÛ m, ÏZ k û RûV W« # p Vô L j R® j R] . Á hP ] o. CÚ kÕ C\ d ¡ ® h Ó f ù N u\ A k R d ÏZ k û R Lû[ Á hP T j§ U t ß m ª u ®¨ ú Vô L j § hP e Lû[ ùN uû] TWe¡UûX W« p Cû [ OûW Aû P Vô [ m W« púY TôÕ Lô l × l ©¬ ® ] o, ®û W kÕ Ø u ù ] Ó l T Õ P u, RôU R m ¨û X V j § p LP kR Oô« t ß d ¡ LôÔ m ØV t £ « p TôÕ Lô l GÝ m é ¬ p E s[ AWÑ ÏZ k C u± קV ª u Cû Q l × Lû[ ®û W kÕ ZûU (BL. 17) W« # p CÚ kÕ × l ©¬ ® ] o DÓ T hÓ YÚ ¡ u û R L s Lô l T L j § p úN o j R ] o. YZ eL úY i Ó m G] ª u Yô ¬ V j Rû X Y o 2 YVÕ B i ÏZ kûR C\ d ¡ ® ] o. úUÛ m, ÏZ k û R Lû[ ûL® h ù_ .Wô Rô¡ Ú x Q u A§ Lô ¬ L Þ dÏ E j R P l T h PÕ. W« p ùN u\ ¨û X C kR ¨û X « p, AúR W« p Ó f ùN u \ Y o L s ϱ jÕ ®Nô W ® h Pô o. ª u Yô ¬V LZ L e L Þ d ¡ û P úV Vô] « p, BR W ® u± R® jR ÏZ k ¨û X V j § p ª u W« p L ° p ¬ jÕ YÚ ¡ u \ ] o. EV o¨ûX JÚ e ¡ û Q l × d ÏÝ á hP m ùN uû] A iQô Nôû X « Û s[ ª u Yô ¬V Rû XûU AÛ Y X L j § p AR u Rû X Y o ù_ .Wô Rô ¡ Ú x Q u Rû X û U « p § e L s ¡ ZûU Sû P ù T t \ Õ. C k R d á hP j § p Rû P « pXô ª u ®¨ ú Vô L m, G§ o Y Ú m TÚY Uû ZûV NUô ° dL úRû Y Vô] Ø d ¡V R[ YôP ùTôÚ s L ° u CÚ l×, AWÑ U t ß m ª u Yô¬ V j § u Ø d ¡ V j § hP e L ° u Ø u ú ] t \ m, ª u Cû Q l× U t ß m Yã p, TÑûU G¬ N d§ E t T j§ } TV u TôÓ E s ° hP ª u Yô¬ V j § u R t ú Tô û RV ùNV p Tô Ó L s ϱ jÕ ®¬ YôL Bú Xô £ d L l T h PÕ. Cû R j ùRôP o kÕ á hP j § p ù_ .Wô Rô ¡ Ú x Q u úT£ VÕ: ùLô p # UûX ª u E t T j § j § hP j Õ dÏ FWL ª u U V Uô d L p ¨ß Y ] j § u LP u, TV u Tô h Ó d Lô] LôX AY Lô N m ϱ jÕ ¬N o q Y e¡ Y¯ Lô h Ó R p L Þ dÏ H tT SP Y ¥ d û L L s úU t ù Lô s[ úY i Ó m. TÑûU G¬ N d§ § hP e L Þ d Lô] ¨Û û Y « p E s[ J l T k R e L Þ dÏ ®û W kÕ ¾ oÜ LôQ úY i Ó m. ª u ùRôP W û U l× U t ß m ®¨ ú Vô L j Õû \ « p J l T kR ¨ß Y ] e L s R e L s T¦ Lû[ ®û W kÕ Ø¥ d L Ü m A§ Lô ¬ L s SP Y ¥ dûL GÓ dL úY i Ó m. úUÛ m, úU t áûW 㬠V ª u E t T j § d L hP û U l×, U j §V AW £ u ª u E t T j § j § hP e L s U t ß m ¿ iP LôX ª u E t T j§, ª u ®¨ ú Vô L j §hP e Lû[ ®û W YôL Ø u ù ] Ó dL A§ Lô ¬ L s SP Y ¥ dûL GÓ dL úY i Ó m. ª u ÖL o ú Yô ¬ u ×Lô o L Þ dÏ Ï± l © hP LôX d ù L Ó Ü d Ï s ¾ oÜ Lô i T Õ P u, G q ®R RôU R Ø m C u± קV ª u Cû Q l × Lû[ ®û W kÕ YZ eL úY i Ó m G] Ü m AY o E j R W ® h Pô o. TÑûU á hP j § p G¬ N d § d LZL úUXô iûU CV d Ï S o AÉ v úNL o, ��������������� ª u E t T j § d LZL úUXô iûU CV d Ï ������� S o U.ú Lô ® k R Wô q E s TP TX o LX kÕ ùLô i P ] o. �����������������

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CHENNAI businessline. TUESDAY - AUGUST 19 - 2025

news[. ] bl[.] 7

QUICKLY. Jan Vishwas Bill 2.0 FASTag annual pass crosses 5 lakh users introduced in Lok Sabha

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EASE OF DOING BUSINESS. Govt proposes to decriminalise 288 provisions

Press Trust of India

New Delhi

The government on Monday introduced a Bill in the Lok New Delhi: Within four days of Sabha to decriminalise as its launch, the FASTag Annual many as 288 provisions relatPass facility has crossed the ing to minor offences under landmark figure of five lakh different laws to promote users across the country, said ease of living and improve NHAI on Monday. Notably, the business climate. ‘FASTag Annual Pass’ was This is the second Jan launched on August 15. Vishwas (Amendment of According to NHAI, it has Provisions) Bill. Earlier in received an overwhelming 2023, the government enresponse from National acted a similar law decriminHighway users. “Tamil Nadu led the most number of annual alising 183 provisions in 42 Central Acts, administered TRUST IN REFORMS. Union Minister of Commerce and Industry Piyush Goyal speaks in the passes purchased over the last by 19 ministries and Lok Sabha during the monsoon session of Parliament in New Delhi on Monday ANI four days, followed by departments. Karnataka and Haryana,” NHAI said in a statement. “Also, Introducing the Jan Vish1953, the Legal Metrology enhance the country’s busimilestone in India’s regulatwas (Amendment of ProviAct, 2009, the Motor ness climate. The 2025 Bill ory reform journey,” the maximum transactions through sions) Bill 2025, Commerce Vehicles Act, 1988, and the expands this reform agenda Commerce and Industry ‘FASTag Annual Pass’ at the toll and Industry Minister PiyDrugs and Cosmetics Act, to cover 16 central Acts adMinistry said. plazas were recorded in Tamil Nadu, Karnataka and Andhra ush Goyal said it seeks to en1940 — were part of Jan ministered by 10 ministries In the NDMC law, the Bill Pradesh.” OUR BUREAU hance trust-based govVishwas Act, 2023, and are and departments. proposes replacing the rateernance for ease of doing proposed for further decrimAs per the Bill, first time able value method of propbusiness. inalisation under the current offenders under 10 laws will erty tax with the Unit Area The Bill was then referred Bill. be given advisory or warning Method, introducing a trans- IHCL signs up with Madison to the Select Committee of In the Motor Vehicles Act, for 76 offences. It also proparent and formula-based for 10 Ginger hotels the Lok Sabha for scrutiny. It the Bill proposed to provide poses to replace imprisonsystem linked to property has been tasked to submit its relaxation and clarity in ment for minor, technical or size, usage and location. report to the House by the compliance, including Stateprocedural defaults with Further, under the Ap- Mumbai: Indian Hotels first day of the next session wide vehicle registration inmonetary penalties or warnprentices Act, 1961, there Company Ltd (IHCL) on of Parliament. The Bill was stead of jurisdiction-specific; ings. Penalties are proposed will be a provision for warnMonday signed 10 new hotels introduced amid a din as Opdriving licence renewal efto be made proportionate, ing instead of fine for ofin South India under the Ginger position parties protested, fective from the date of rewith graduated penalties for fences like asking an apprenbrand. The hotels will be demanding a discussion on newal if applied after expiry; repeated offences. tice to work overtime developed in partnership with the voter rolls revision in Bia grace period of 30 days without the approval of the Madison, the hospitality har and other issues. after licence expiry; and FINES & PENALTIES Apprenticeship Adviser. platform of Hyderabad-based claims tribunals empowered Further, the 2025 Bill has Currently such offences JV Ventures and Terminus LAW OVERHAUL to condone filing delays up to proposed rationalisation of are punishable with a fine of group. The new developments The legislation proposes to 12 months. penalties and revision of ₹1,000. Under the Central include construction of a decriminalise norms related A total of 355 provisions fines and penalties. Under Silk Board Act, 1948, the Bill 75-key Ginger hotel at Genome to a number of laws, includare proposed to be amended the bill, designated officers seeks to abolish imprisonValley in Telangana. Jasmeet ing the Motor Vehicles Act, through this Bill. It includes will be empowered to impose ment for furnishing any false Chhabra, Co-founder of JV 1988, the New Delhi Muni288 provisions to be decrimpenalties through adminisstatement. Imprisonment Ventures, said Madison will cipal Council Act, 1994 inalised to foster ease of dotrative processes, thus redu(up to one year) and fine (up soon roll out 10 Ginger hotels (NDMC Act), and The Road ing business, and 67 others cing judicial burden. to ₹1,000) is proposed to be with over 1,000 keys at a Transport Corporations Act, to facilitate ease of living. “The Jan Vishwas removed for obstructing an construction cost of ₹500 1950. The legislation is part of (Amendment of Provisions) officer of the Board in exercrore. OUR BUREAU Four Acts — the Tea Act, the government’s efforts to Bill, 2025, marks a significant cise of any power.

House panel flags delay in audit of spot crude oil purchases

cost cutting. “As such the istry said that in formulating Rishi Ranjan Kala committee had recommencrude oil import strategy, New Delhi ded the Ministry to conduct PSU oil companies “meticua study/audit to see whether lously” consider factors. The Parliamentary Standing the spot tender purchases These include techno-ecoCommittee for Petroleum have actually saved money nomic elements, supply seand Natural Gas has flagged over the years. The reply of curity, international political the delay by the Oil Ministry the Ministry is silent on it,” it and trade relations, availabilin conducting an audit on the added. ity in the spot market, georising trend of India’s spot The committee, therefore, graphical diversity of supply crude oil purchases and reiterated its earlier recomsources, maintaining a balwhether it has resulted in mendation to conduct a ance between term and spot cost-savings. “study/ audit” to see whether procurement, ensuring reThe report deals with the the purchases in spot KEY FINDINGS. The panel observed that overall spot finery flexibility and anticipactions taken by the governtenders had actually been purchases, which were around 27.58 per cent in FY18, rose to ating increased crude oil dement on recommendations promoted to be cheaper. 35.13 per cent in FY23 mand due to upcoming on the subject, ‘Review of processing capacity Policy on Import of Crude SPOT VS TERM CONTRACTS cent, of the total imports. “However, keeping in view expansions. Oil’. The panel observed that While term contracts enthe significant increase in “Further, the dynamic The latest version of the overall spot purchases which sure supply security, spot percentage of spot tenders in nature of the spot market, inreport was considered and were around 27.58 per cent contracts offer operational the last few years, the comfluenced by market forces adopted by the panel on Auin FY18 rose to 35.13 per flexibility, with pricing for mittee would like to caution and geopolitical dynamics, gust 7. cent in FY23. both tethered to prevailing the oil PSUs to plan their underscores the need for a In its original report, the India’s crude oil imports market rates. crude purchases, so that the nuanced approach. Assesspanel acknowledged the from the spot market rose to The committee acknowaverage cost of purchases in ing gains or losses isn’t solely strategic need of oil PSUs to 49.6 million tonne (mt) in ledged that oil PSUs have spot tenders should be at a contingent on crude oil enter into spot contracts to FY23, or 35.13 per cent. This autonomy to decide their lower cost than term conprices but also on factors like fulfil their instant demands. is the highest on record in purchases of crude oil and tracts,” the panel shifts in product demand, reHowever, it desired to volume terms (till March are the best judges to decide emphasised. finery shutdown schedules, know whether the rising 2023). on the type of purchase for refinery configurations and trend of spot purchases in Term cargoes in FY23 crude oil from international KEY FACTORS product crack spread,” it the oil PSUs had resulted in stood at 91.6 mt, or 64.87 per markets. In its response, the Oil Minexplained.

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Over 23% Jan Dhan accounts are inoperative: FinMin data

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Shishir Sinha

New Delhi

As the much-celebrated Pradhan Mantri Jan Dhan Yojana (PMJDY) completes 11 years this month, new government data show a worrying trend: More than one in every five Jan Dhan accounts is lying inoperative. According to data presented by the Finance Ministry in the Lok Sabha on Monday, as of August 6, over 13 crore Jan Dhan accounts — 23 per cent of the total 56.04 crore opened till July 31, 2025 — reasons, officials and experts chayat-level Saturation are inoperative. The amount point out that states with Campaign (July 1–Septemparked in these accounts lower per capita income — ber 30) where re-KYC of instands at over ₹2.64 lakh where PMJDY enrolments active accounts is a focus. crore. are highest — may account Launched on August 28, This marks a reversal of for much of the dormancy. 2014, PMJDY was enviearlier years. Between 2019sioned as a cornerstone of 20 and 2023-24, the percentSTEPS PLANNED financial inclusion, offering age of inoperative accounts In a written response, Minisno-minimum balance bank remained below 20 per cent. ter of State for Finance accounts, free RuPay debit But in the past two years, the Pankaj Chaudhary said cards with accident insurshare has consistently banks and the government ance cover, and overdraft fabreached that mark, now have taken steps to keep the cilities up to ₹10,000. climbing to 23 per cent. accounts active. These inOver the past decade, the Under Reserve Bank of Include crediting direct benefit government credits the dia norms, a savings account transfers (DBT) even to inscheme with enabling direct is classified as inoperative/ active accounts, periodic subsidy transfers, boosting dormant if no transactions communication with acdigital payments, and exare recorded for over two count holders about the tending insurance and savyears. While the government dormant status, and special ings platforms to the has not attributed specific drives such as the Gram Panpoorest.

NMDC Steel cuts year-end borrowings, short-term debt up

decided to divest its 50.79 Abhishek Law per cent shareholding. New Delhi “Additionally, GoI shall offer 10 per cent stake in Even as State-run NMDC NMDC Steel to NMDC Ltd Steel Ltd remains on the govafter the strategic buyer has ernment’s divestment radar, been identified through the in FY25, its first full year of bidding process,” the comoperations, total borrowings Nagarnar steel plant. The pany mentioned in its annual were down 11.3 per cent at Directors’ Report noted the report. ₹5,897.64 crore from disinvestment process is be₹6,651.77 crore in FY24 ing undertaken by the DeBORROWINGS DETAILS (nine-month period) as repartment of Investment and NMDC Steel reported a loss payments and reduced longPublic Asset Management of ₹2,374 crore, even as it saw term debt outweighed a rise (DIPAM). “The company is turnover jump substantially in short-term working capextending full support in this to ₹8,503 crore in FY25. ital loans. regard,” it mentioned. The long-term borrowings Long-term borrowings fell In the annual report, the at present include secured sharply to ₹3,289.31 crore management further noted term loans from banks: (₹4,261.02 crore), driven by that the company continues ₹2,487 crore; loans from finscheduled repayments on to remain on the list of entitancial institutions: ₹278 bank term loans and absence ies identified for divestment. crore and non-convertible of major project loan addi“The timing and modalities debentures (NCDs): ₹523.80 tions. of the proposed strategic crore — transferred from sale are to be decided by the NMDC Ltd at demerger and DIVESTMENT PUSH government, keeping in view due for redemption in AuShort-term borrowings, market conditions and opergust 2025. The bulk of repayhowever, increased to ational performance of the ments are back-ended. ₹2,608.33 crore (₹2,390.76 company,” it said. NMDC Steel’s debt-tocrore), reflecting higher As per the preliminary Inequity ratio stood at 0.45 at working capital demand to formation Memorandum the close of FY25, marginally fund operations during the and Request for Expression higher than the previous ramp-up of the 3 mtpa of Interest invited, GOI had year’s 0.43. CM YK

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