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.

Shanti Educational Initiatives Limited has issued a postal ballot notice seeking shareholder approval for two significant corporate resolutions through remote electronic voting. The notice, dated March 05, 2026, outlines key amendments and directorial changes requiring special resolution approval.

Postal Ballot Resolutions

The company has proposed two special resolutions for shareholder consideration:

Object Clause Amendment

The first resolution proposes adding clause 3(b)(66) to the existing objects clause of the Memorandum of Association. The new clause would enable the company to "enter into any scheme of arrangement including amalgamation, de-merger or any other compromise or arrangement" subject to Sections 230 to 234 of the Companies Act, 2013. This amendment follows the Board's consideration and approval of a proposed Composite Scheme of Arrangement at its meeting held on March 02, 2026.

Independent Director Re-appointment

The second resolution seeks re-appointment of Shri Susanta Kumar Panda (DIN: 07917003) as an Independent Director for a second term. His current term as Independent Director expires on May 25, 2026, having been appointed for five consecutive years from May 26, 2021 to May 25, 2026 at the 33rd Annual General Meeting held on September 29, 2021.

Mr. Panda is a retired Indian Revenue Service officer who superannuated in April 2019 after a distinguished 37-year career. He served as Member of the Central Board of Indirect Tax and Customs (CBIC) and held the position of Special Secretary to the Government of India. His extensive experience covers personnel, resources, laws and procedures, particularly in indirect tax laws.

E-Voting Process and Timeline

The company has engaged MUFG Intime India Private Limited (formerly Link Intime India Private Limited) to facilitate the remote e-voting process. Mr. Jatin Kapadia has been appointed as Scrutinizer to conduct the postal ballot in a fair and transparent manner.

Compliance and Documentation

In compliance with MCA circulars and SEBI Listing Regulations, the postal ballot notice is being sent only through electronic mode to shareholders whose email addresses are registered with the company, registrar, or depository participants. Hard copies of postal ballot forms and pre-paid envelopes will not be distributed.

Shareholders holding shares in physical or demat form as on the cut-off date of February 27, 2026, are eligible to participate in the remote e-voting process. The company has provided detailed instructions for various categories of shareholders including individual shareholders holding securities in demat mode with NSDL/CDSL and those holding shares in physical form.