Cholamandalam Investment and Finance Company Limited (CHOLAFIN) announced the outcome of its Postal Ballot conducted through remote e-voting. The Ordinary Resolution for the appointment of Mr. Vellayan Subbiah (DIN: 01138759) as a Whole-time Director, designated as Executive Chairman, for a term of 5 years commencing from April 1, 2025, till March 31, 2030, has been duly passed by the members with the requisite majority.

The remote e-voting commenced on March 30, 2025, and concluded on April 28, 2025. The resolution is deemed to have been passed on April 28, 2025.

Key voting results:

• Total votes polled: 75,17,75,800
• % of Votes Polled on outstanding shares: 89.3995%
• Votes in favour: 73,68,80,147 (98.0186%)
• Votes against: 1,48,95,653 (1.9814%)

The appointment includes remuneration details such as salary (₹ 28,15,200/- p.m. in the scale of ₹ 20,00,000/- p.m. to ₹ 60,00,000/- p.m.), allowances, perquisites, and an annual incentive. The aggregate remuneration is subject to an overall ceiling of 2.5% of the net profits of the Company for each financial year, computed as per the Companies Act, 2013. Mr. Subbiah, being a promoter, will not be entitled to stock options.