Automotive Axles Limited — Important, 09-12-2024: General Updates

Automotive Axles Limited has addressed the voting recommendations issued by Stakeholders Empowerment Services (SES) regarding a Postal Ballot Notice concerning Material Related Party Transactions with Meritor HVS (India) Limited (MHVSIL). AAL clarified the collaboration's importance, stating that MHVSIL plays a crucial role in product design, testing, and marketing while AAL focuses on manufacturing. The company emphasized that the proposed transaction is vital for seamless customer service continuity and operational viability, highlighting its historical growth in collaboration with MHVSIL. AAL stressed that all transactions are audited and comply with standard practices. Despite SES's concerns, AAL strongly encourages shareholders to consent to the resolutions to avoid potential disruptions in their long-term business relationships and customer trust. Approval is essential for maintaining stability and supporting future growth in the competitive commercial vehicle market.