Shanti Educational Initiatives Limited has successfully concluded its postal ballot voting process on April 04, 2026, with shareholders approving both special resolutions through remote e-voting with the requisite majority. The company communicated the voting outcomes to BSE Limited on April 06, 2026, fulfilling its regulatory obligations under SEBI Listing Regulations.

Postal Ballot Process and Timeline

The Board of Directors approved the postal ballot notice on March 02, 2026, covering two key resolutions for shareholder consideration. The company set February 27, 2026 as the cut-off date for determining eligible shareholders, with a total of 6,505 shareholders on record.

The company engaged MUFG Intime India Pvt Ltd for providing e-voting facility and technical services. Mr. Jatin Kapadia of K Jatin & Co., Practicing Company Secretaries, was appointed as the scrutinizer to conduct the e-voting process in a fair and transparent manner.

Resolution 1: Object Clause Amendment

The first special resolution involved changes to the Object Clause of the Memorandum of Association, specifically adding clause 3(b)(66) to enable the company to enter into schemes of arrangement including amalgamation, de-merger, or other compromise arrangements subject to Sections 230 to 234 of the Companies Act, 2013.

Resolution 2: Independent Director Re-appointment

The second special resolution concerned the re-appointment of Shri Susanta Kumar Panda (DIN: 07917003) as an Independent Director for a second term of 5 years, effective from May 26, 2026 to May 25, 2031.

Shareholder Participation Analysis

The voting pattern showed strong support from both promoter and public categories. For Resolution 1, the Promoter and Promoter Group contributed 72,508,196 votes (90.28% of their holdings), while Public-Non Institutions contributed 212,322 votes (0.45% of their holdings). Public-Institutions did not participate in voting for the first resolution.

For Resolution 2, participation was significantly higher with enhanced voting from all categories:

Regulatory Compliance and Documentation

The company fulfilled all regulatory requirements by publishing public advertisements in Financial Express (English and Gujarati) on March 06, 2026. The postal ballot notice was sent electronically to eligible shareholders whose email addresses were registered with the company or depositories.

Darshan Vayeda, Whole-time Director (DIN: 07788073), signed the regulatory filing submitted to BSE Limited. The scrutinizer's report and voting results have been made available on the company's website, ensuring transparency and accessibility for all stakeholders. Both resolutions were passed with unanimous approval, demonstrating strong shareholder confidence in the proposed corporate actions.

Shanti Educational Initiatives Limited has announced that members of the Chiripal Family, who serve as promoters of the company, have entered into a formal Inter-se Voting Agreement. The agreement, dated March 17, 2026, was disclosed to the stock exchange on March 20, 2026, in compliance with SEBI regulations.

Agreement Details and Background

The Inter-se Voting Agreement formalizes a longstanding practice among the Chiripal Family members regarding the exercise of their voting rights in the company. According to the disclosure, the family has historically exercised joint control over strategic and operational decisions through mutual discussions and coordinated voting.

The agreement was communicated to the company through a letter dated March 19, 2026, from Brijmohan Chiripal on behalf of the Chiripal Family. The company emphasized that it is not a party to this agreement, which is exclusively among the family members who are promoters.

Parties to the Agreement

The Inter-se Voting Agreement involves 14 members of the Chiripal Family, all of whom are promoters or promoter group members of the company:

Purpose and Significance

The primary purpose of the agreement is to establish a clear framework for future management and control of the company while avoiding potential disputes among family members. The Chiripal Family aims to continue exercising their voting rights in a coordinated manner based on unanimous decisions among the family members.

Key aspects of the agreement include:

• Formalization of existing verbal agreements and practices
• Coordination of voting rights among all family members
• Prevention of disputes and misunderstandings within the promoter group
• Establishment of binding inter-se voting arrangements

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 and Regulation 30A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also referenced the SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, in making this announcement.

The agreement does not result in any change to the management or control of the company, which continues to remain with the existing promoters. Additionally, since the company is not a party to the agreement, there are no restrictions or liabilities imposed upon the listed entity.

Management Impact

According to the disclosure, there is no change in the management or control of Shanti Educational Initiatives Limited as a result of this agreement. The management and control will continue to remain with the existing promoters, namely the Chiripal Family members. The agreement serves to formalize existing practices rather than introduce new governance structures.