Shanti Gold International Limited has informed stock exchanges about a revision in the incorporation timeline for its planned wholly owned subsidiary in Dubai, United Arab Emirates. The company has extended the expected completion date from March 31, 2026 to June 30, 2026, citing regional challenges as the primary reason for the delay.

Revised Timeline Details

The company's communication to BSE Limited and National Stock Exchange of India Limited outlined the specific changes to the previously announced timeline:

Reasons for Delay

Shanti Gold International Limited has attributed the timeline revision to several external factors affecting business operations in the region. The company specifically cited ongoing geopolitical tensions and conflict in the UAE region as the primary cause for the delay.

The operational challenges include:

• Delays in obtaining necessary approvals from local authorities
• Documentation verification processes taking longer than expected
• Issuance of requisite licenses facing administrative bottlenecks
• Reduced coordination capacity with local authorities and service providers
• Limited availability of professional services due to precautionary measures

Regulatory Compliance

The revision has been communicated in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This follows the company's previous intimation dated November 04, 2025, and aligns with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Company's Response

Despite the unforeseen circumstances, Shanti Gold International Limited has assured stakeholders that it is taking all necessary steps to complete the incorporation process at the earliest feasible opportunity. The company emphasized that the delay is due to uncontrollable external factors rather than internal operational issues.

The management has set the revised target date as on or before June 30, 2026, providing a three-month extension from the original timeline to accommodate the challenging operating environment in the region.

Shanti Gold International Limited has issued a postal ballot notice for the re-appointment of two key directors, following the board's earlier approval for extended five-year terms. The company has completed newspaper publication requirements under Regulation 30 and set the e-voting period from March 25, 2026 to April 23, 2026, enabling shareholders to vote electronically on the proposed resolutions.

Regulatory Compliance and Publication

The company has fulfilled its regulatory obligations by publishing the postal ballot notice in newspapers on March 25, 2026:

Company Secretary Vrushti Shah has formally communicated the newspaper publication to both BSE Limited (Scrip Code: 544459) and National Stock Exchange of India Limited (Symbol: SHANTIGOLD) as required under SEBI Listing Regulations.

Board Approvals and Postal Ballot Process

The board had earlier approved two significant re-appointments during its meeting on March 19, 2026, based on recommendations from the Nomination and Remuneration Committee:

The postal ballot notice, dated March 19, 2026, seeks shareholder approval for both ordinary resolutions through electronic voting only. The cut-off date for determining eligible voters is Friday, March 20, 2026, with notice dispatch completed on Tuesday, March 24, 2026.

Enhanced Remuneration Structure

Both directors will receive significantly increased remuneration effective February 01, 2026:

This represents a substantial increase from their previous remuneration of ₹1,08,30,000 per annum, reflecting the company's improved profitability and their expanded responsibilities.

E-voting Process and Timeline

The company has engaged National Securities Depository Limited (NSDL) to provide remote e-voting facilities. Key dates and details include:

Shareholders whose email addresses are registered with the company or depositories will receive the postal ballot notice electronically. The notice is also available on the company's website at www.shantigold.in and stock exchange websites.

Corporate Governance and Compliance

The postal ballot process ensures compliance with Section 108 and 110 of the Companies Act, 2013, and SEBI Listing Regulations. Both directors meet all regulatory requirements:

The resolutions, if approved by requisite majority, will be deemed passed on April 23, 2026. The company has ensured full regulatory compliance throughout the process, including timely newspaper publication and stock exchange notifications.