Shareholders of Elnet Technologies have approved the appointment of Navneet Ganapathi as a Non-Executive Independent Director, signaling strong investor confidence in the company’s governance structure. The special resolution passed with 99.91% support, reflecting near-unanimous backing from equity holders. This appointment strengthens the Board’s independence, aligning with regulatory requirements for listed entities under SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations.

The postal ballot process, conducted in compliance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, commenced on July 5, 2026, and concluded on August 3, 2026. M/s. BP & Associates, Practicing Company Secretaries based in Chennai, served as the scrutinizer for the e-voting process. The cut-off date for determining voting eligibility was June 26, 2026, with votes cast by shareholders holding shares either in physical or dematerialized form on that date.

Voting Results Breakdown

The voting data reveals distinct participation patterns between promoter and public shareholders. While the promoter group voted unanimously in favor, a small segment of non-institutional public shareholders opposed the resolution.

Navneet Ganapathi, identified by DIN 03179054, will serve as an Independent Director for a period of five years, effective from May 14, 2026. The appointment aims to bring diverse expertise to the Board, enhancing oversight of strategic decisions and risk management frameworks.

Governance Compliance

The postal ballot was conducted in adherence to Sections 108 and 110 of the Companies Act, 2013, read with Rule 20 and Rule 22 of the Companies (Management and Administration) Rules, 2014. The process also complied with various circulars issued by the Ministry of Corporate Affairs (MCA) and the Securities and Exchange Board of India (SEBI), including General Circular No. 09/2024 dated September 19, 2024.

Swati S. Bajaj, Company Secretary and Compliance Officer of Elnet Technologies, confirmed that all procedural requirements were met. The scrutinizer’s report, dated August 4, 2026, verified that the resolution was passed with the requisite majority. No invalid or abstained votes were recorded during the e-voting period.

What the Numbers Show

The voting pattern highlights a clear divergence between promoter and retail shareholder sentiment. While promoters delivered 100% support, only 89.02% of polled votes from non-institutional public shareholders favored the appointment. However, this minority opposition represented just 0.09% of total votes cast, indicating that while some retail investors raised concerns, their impact on the overall outcome was negligible. The high turnout among promoters (100% of shares held) underscores their decisive role in corporate governance decisions at Elnet Technologies.

Elnet Technologies Ltd has submitted newspaper clippings to BSE Limited confirming the publication of its Postal Ballot notice in Business Standard and Makkal Kural on July 04, 2026. This submission complies with Section 110 of the Companies Act, 2013 and Rule 22 of the Companies (Management and Administration) Rules, 2014, informing shareholders about the completion of dispatch for the postal ballot and e-voting process regarding the appointment of a director.

The company is seeking shareholder approval for the appointment of Mr. Navneet Ganapathi as a Non-Executive Independent Director for a period of 5 years effective from May 14, 2026. The appointment was recommended by the Nomination and Remuneration Committee and approved by the Board. Pursuant to Regulation 17(1C) and Regulation 25(2A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, approval is required within three months of the appointment via a special resolution.

Postal Ballot Schedule

The company has established the following schedule for the postal ballot process. Only members whose names appear in the register of members or register of beneficial owners as on the cut-off date are eligible to vote.

The remote e-voting period begins on July 05, 2026, at 9:00 a.m. IST and ends on August 03, 2026, at 5:00 p.m. IST. Shareholders holding shares in either physical or dematerialized form as on the cut-off date may cast their votes during this window. Once a vote is cast, it cannot be modified.

Voting Process and Scrutiny

M/s. BP & Associates has been appointed as the scrutinizer to ensure the postal ballot is conducted fairly. The scrutinizer will submit a report to the Chairman upon completion of the scrutiny. The results of the postal ballot, along with the scrutinizer's report, will be communicated to BSE Limited and uploaded to the company's website. The resolutions will be deemed passed on the last date of voting if they receive the requisite approval.

Shareholders can access the e-voting system through the websites of CDSL or NSDL, or directly via www.evotingindia.com . Detailed instructions for individual and non-individual shareholders, as well as those holding shares in physical form, are provided in the notice.