Shashank Traders Limited has scheduled an Extraordinary General Meeting (EGM) on July 30, 2026, to seek shareholder approval for changing its name to Cosmic Energy & Motors Limited and altering its main object clause to enter the electric vehicle (EV) and energy sectors. The meeting, to be held via video conferencing, will also consider increasing the authorized share capital from ₹3.5 crore to ₹50 crore and enhancing the Board's borrowing powers up to ₹500 crore to support future business diversification.

The Board proposes to increase the authorized equity share capital by creating 4,65,00,000 additional equity shares of ₹10 each. Shareholders will vote on appointing Mr. Aditya Vikram Birla as Non-Executive Independent Director and Chairman, Mrs. Suranjana Birla as Non-Executive Non-Independent Women Director, and Mr. Anil Kumar Singh as Whole-time Director for five years. Additionally, the appointment of Mr. Amit Singhania and Mr. Pramod Kumar Shah as Non-Executive Independent Directors will be regularized.

Key Resolutions

The EGM will transact 14 special businesses, including the alteration of the Memorandum of Association (MOA) and Articles of Association (AOA) to align with the Companies Act, 2013. The company seeks approval to create charges on movable and immovable properties and to provide loans, guarantees, or investments exceeding statutory limits up to ₹500 crore.

Shareholder Participation

Remote e-voting will be available from July 27, 2026, at 9:00 AM to July 29, 2026, at 5:00 PM. Shareholders holding shares as on the record date of July 23, 2026, are eligible to vote. The facility for appointing proxies will not be available due to the virtual mode of the meeting. NSDL has been engaged to facilitate the e-voting and video conferencing process.

The notice is available on the company’s website and the websites of BSE Limited and NSDL. CS Sudhansu Sekhar Panigrahi has been appointed as the Scrutinizer for the voting process.

Shashank Traders Limited's statutory auditor, M/s. Nemani Garg Agarwal & Co., resigned effective June 30, 2026, citing a change in the company's management as the reason for the decision. The firm, which was appointed on December 30, 2024, for a five-year term ending at the conclusion of the 44th Annual General Meeting, confirmed that the resignation does not result from an inability to obtain sufficient appropriate audit evidence or any other circumstances requiring disclosure to the Board.

The auditor clarified that there are no disputes or concerns regarding the suppression of information by the management. In its resignation letter, the firm stated it would file Form ADT-3 with the Registrar of Companies within the prescribed time as required under Section 140(2) of the Companies Act, 2013. The most recent audit report submitted by the firm was for the standalone audited financial results for the quarter and financial year ended March 31, 2026, issued on May 30, 2026.

The Audit Committee and the Board of Directors of Shashank Traders will note the resignation in their ensuing meetings. The company intends to recommend the appointment of a new statutory auditor in compliance with the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Any such appointment will be subject to the approval of the shareholders where required.

Auditor Details

The resignation was intimated to the exchanges pursuant to Regulation 30(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that there are no other material reasons for the resignation beyond those stated by the auditor.