Zelio E-Mobility has approved several key decisions during its Board of Directors meeting held on March including the leasing of a new facility in Coimbatore, auditor appointments for the upcoming financial year, and authorization to secure credit facilities for business operations.
Coimbatore Facility Lease
The board approved entering into a lease agreement for a warehouse and assembly facility in Coimbatore, Tamil Nadu. The facility will support the company’s expansion in South India and will be used for the assembly of electric scooters, along with storage, logistics, and related operational activities. Directors have been authorized to execute the lease agreement and related documentation.
Auditor Appointments
For the financial year 2025–26, the board approved the appointment of two audit firms. Jagsir Singh & Associates will oversee compliance-related activities including corporate law matters and secretarial audits, while T S A & Co. will handle internal audit, taxation, and financial advisory services.
Credit Facility Authorization
The board also authorized company directors to approach banks and non-banking financial companies to arrange credit facilities such as working capital loans, term loans, and other financing requirements. The authorization allows directors to negotiate, finalize agreements, and execute all necessary documents related to these credit arrangements.
These approvals support the company’s operational expansion, governance framework, and financial flexibility as it continues to grow its electric mobility business.
Click Here to get the latest EV news and exclusive updates from EV Mechanica on WhatsApp!