Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Purpose and Nature of the Disclosure

This is an intimation under Regulation 30 of the SEBI LODR Regulations, 2015, regarding a Postal Ballot notice sent to shareholders. The purpose is to seek approval for two items of special business via a remote e-voting process, as physical meetings are not being convened.

Summary of Proposed Resolutions and Implications

Item No. 1: Approval for change of name and consequential alterations to MOA and AOA

The company proposes to change its name from 'Maharashtra Scooters Limited' to 'Bajaj Nivesh Limited'. This is a strategic move to reflect its current business reality as an Unregistered Core Investment Company (CIC), having discontinued scooter manufacturing in 2006 and closed its tool room operations in FY2025. The Central Registration Centre (CRC) has already approved the reservation of the new name vide its letter dated 14 August 2026. The change will be effective upon issuance of a fresh Certificate of Incorporation. All existing share certificates will remain valid. This requires a Special Resolution.

Item No. 2: Approval for change of object clause and consequential alterations to the MOA

The company proposes to delete the obsolete objects related to scooter manufacturing (Clauses III(A)(1), III(A)(2), III(B)(4)) and its associated technical agreement with Bajaj Auto Limited. The existing investment-related object (Clause III(A)(3)) is to be retained and renumbered as the primary object (Clause III(A)(1)). Furthermore, a new object (Clause III(A)(2)) is proposed to be inserted to enable the company to pursue the business of generating renewable energy (solar, wind, etc.) in the future, subject to regulatory approvals. This also requires a Special Resolution.

Voting Process and Methods

Pursuant to MCA circulars, the voting will be conducted entirely through a remote e-voting process. No physical copies of the notice or ballot form are being sent.

  • Cut-off Date: Friday, 21 August 2026. Shareholders registered as of this date are eligible to vote.
  • E-voting Period: Commences on Saturday, 29 August 2026 at 9:00 a.m. (IST) and ends on Sunday, 27 September 2026 at 5:00 p.m. (IST).
  • E-voting Service Provider: KFin Technologies Limited (KFin).
  • Login Methods:
  • For Demat Holders (Individuals): Can vote seamlessly through their NSDL or CDSL demat accounts/websites using their existing login credentials (NSDL IDeAS, CDSL Easi/Easiest) without separate registration with KFin.
  • For Others (Non-individuals, Physical Shareholders): Must use the login credentials (User ID and password) provided via email to access KFin's platform directly at https://evoting.kfintech.com.
  • Scrutinizer: Sachin Bhagwat, Practicing Company Secretary (ACS No. 10189, CP No. 6029), or failing him, Amruta Patil (ACS No. A25028, CP No. 27101), Partner, Jog Limaye & Associates, has been appointed to scrutinize the process.

Key Voting Outcomes and Participation

  • The results, along with the Scrutinizer's report, will be placed on the company's website (https://www.mahascooters.com/investors.html#shareholders) and KFin's website (https://evoting.kfintech.com) within two working days from the end of the e-voting period, i.e., on or before Tuesday, 29 September 2026.
  • The outcome will also be communicated to the stock exchanges (BSE and NSE) and made available at the company's registered office.
  • The resolutions will be deemed passed on the last day of the e-voting period, i.e., 27 September 2026, subject to receiving the requisite number of votes.
  • The notice does not contain the final vote count or category-wise participation breakdown, as the voting is yet to commence.

Scrutinizer's Role and Findings

The Scrutinizer is responsible for scrutinizing the entire postal ballot process in a fair and transparent manner. After the voting period concludes, the Scrutinizer will prepare a report detailing the votes cast in favor and against each resolution and submit this report to the Chairman or the Joint Managing Directors of the company. The findings will be made public as part of the result announcement.

Compliance with Laws and Regulations

The disclosure emphasizes compliance with:

  • Sections 108, 110, and 102 of the Companies Act, 2013.
  • Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014.
  • Regulation 30 and 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  • The Secretarial Standard on General Meetings (SS-2).
  • MCA General Circular No. 03/2025 dated 22 September 2025 and other connected circulars.
  • SEBI Master Circular No. HO/49/14/14(7)2025- CFDPOD2/I/3762/2026 dated 30 January 2026.
  • RBI Master Directions for Core Investment Companies (as the company is an Unregistered CIC).

A specific Statutory Auditor's Certificate from KKC & Associates LLP (Firm Reg. No. 105146W/W100621) dated 25 August 2026 is included. It certifies compliance with SEBI LODR Regulation 45(1) for the name change, confirming that (a) at least one year has elapsed since the last name change, and (b) the revenue from the activity suggesting the new name (investment business) accounted for at least 50% of the total revenue in the preceding one-year period.

Names and Roles of Signatories

  • Saurabh Surendra Erande, Company Secretary (Membership No. A25908), signed the intimation letter to the stock exchanges and the Postal Ballot Notice on behalf of the company.
  • Soorej Kombaht, Partner, KKC & Associates LLP (ICAI Membership No. 164366), signed the Statutory Auditor's Certificate.

Other Relevant Information

  • Communication Mode: The notice is being sent only electronically to shareholders whose email IDs are registered. Shareholders are urged to register their email IDs and update PAN/KYC details.
  • Inspection of Documents: The Memorandum and Articles of Association (with proposed alterations) and other relevant documents are available for electronic inspection upon request via email to investors@msls.co.in.
  • Corporate Office: 6th Floor, Bajaj Finserv Corporate Office, Off Pune - Ahmednagar Road, Viman Nagar, Pune - 411 014.
  • Corporate Identification Number (CIN): L35912MH1975PLC018376.