Insolation Energy Limited shareholders have approved the continuation of Mr. Anil Kumar Gupta as a Non-Executive Independent Director and authorized amendments to the company's Employee Stock Option Plan 2024 (ESOP 2024) through a postal ballot process. The voting, conducted via remote e-voting, concluded on July 03, 2026, with both special resolutions securing the requisite majority. The approvals ensure the retention of the director and provide flexibility to modify the ESOP scheme.

The Board of Directors had sought member consent on May 25, 2026, pursuant to Section 110 and 108 of the Companies Act, 2013, and relevant SEBI regulations. The remote e-voting period commenced on June 04, 2026, and closed on July 03, 2026. Mr. Akshit Kumar Jangid, Practicing Company Secretary and partner of M/s. Pinchaa & Co., was appointed as the Scrutinizer to oversee the process and ensure transparency.

Voting Results

The Scrutinizer's report confirmed that both resolutions were passed with overwhelming support. The results for the two items are detailed below:

Resolution Details

The first resolution grants consent for the continuation of Mr. Anil Kumar Gupta (DIN: 03573328) as a Non-Executive Independent Director until the expiry of his present term. This approval aligns with Regulation 17(1A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the recommendation of the Nomination and Remuneration Committee.

The second resolution authorizes amendments to the Insolation Energy Employee Stock Option Plan 2024. The changes, detailed in the explanatory statement, are subject to applicable provisions of the Companies Act, 2013, and the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The Board and the Nomination & Remuneration Committee are empowered to implement these modifications and determine eligibility for the plan.

Insolation Energy Ltd accepted the resignation of Ms. Pallavi Mishra as Non-Executive Independent Director effective from the closure of business hours on June 30, 2026, due to her professional commitments elsewhere. Consequently, she has ceased to be the chairman of the Nomination and Remuneration Committee and Corporate Social Responsibility Committee of the Board of Directors. Ms. Mishra confirmed that there are no other material reasons for her resignation other than those stated in her letter.

The resignation was intimated to the stock exchanges pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also references SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Resignation Details

The company provided the requisite details regarding the change in directorship as per regulatory requirements.

Ms. Pallavi Mishra stated in her resignation letter that she would not be able to devote adequate time and attention towards discharging her responsibilities towards the company. She expressed her gratitude to the Board and Key Managerial Personnel for their support during her tenure.