Shashank Traders Limited held its Extra-Ordinary General Meeting (EGM) on July 30, 2026, seeking shareholder approval for significant corporate restructuring measures, including a proposed name change and the regularization of several board appointments. The meeting, conducted via Video Conference/Other Audio Visual Means (VC/OAVM), also addressed increases in authorized share capital and borrowing limits.

The EGM commenced at 3:00 P.M. (IST) with Mr. Aditya Vikram Birla, Additional Director (Non-Executive & Chairman), acting as Chairperson. Eleven members attended virtually, satisfying the quorum requirements under the Companies Act, 2013. The proceedings were scrutinized by CS Sudhansu Panigrahi, who was appointed as the Scrutinizer to ensure fair and transparent voting. National Securities Depository Limited (NSDL) facilitated remote e-voting, which ran from July 27, 2026, at 9:00 A.M. to July 29, 2026, at 5:00 P.M., based on the cut-off date of July 23, 2026.

Key Resolutions Put to Vote

Shareholders were asked to vote on 14 resolutions, comprising both ordinary and special resolutions. The most material proposals included:

Other special resolutions sought approval for alterations to the Memorandum of Association (MOA), including the Main Object Clause, and the adoption of new Articles of Association (AOA) per Table-F of Schedule I of the Companies Act, 2013. Additionally, shareholders voted on creating charges on immovable and movable properties under Section 180(1)(A) and making investments or providing loans in excess of limits prescribed under Section 186 of the Companies Act, 2013.

Governance and Compliance

The meeting adhered to guidelines issued by the Ministry of Corporate Affairs (MCA) and the Securities and Exchange Board of India (SEBI). Mr. Aditya Vikram Birla confirmed that statutory registers were available for electronic inspection during the meeting. The Chairperson addressed queries from shareholders via a chat box facility provided by NSDL.

The voting results, along with the Scrutinizer's Report, will be submitted separately to the Bombay Stock Exchange (BSE) and the Calcutta Stock Exchange (CSE) within the prescribed timeline. The final outcomes will also be published on the company’s website within two working days of the meeting's conclusion. The EGM concluded at 3:48 P.M. (IST), with e-voting remaining open for an additional 10 minutes post-conclusion.

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.