Solarworld Energy Solutions Limited has announced the resignation of Ms. Rini Chordia from the positions of Chairperson and Independent Director, effective from the close of business hours on May 26, 2026. The company confirmed that the resignation is due to pre-occupation and other personal commitments, as stated in her resignation letter dated May 23, 2026. Consequently, Ms. Chordia will cease to hold the position of Chairperson of the Audit Committee and Stakeholders Relationship Committee, and will step down as a member of the Nomination and Remuneration Committee, Risk Management Committee, and Executive Committee.

The company disclosed that Ms. Chordia has confirmed there are no other material reasons for her resignation. Upon the resignation becoming effective, she will cease to have any association with the company in any capacity. The necessary disclosures have been made to the exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of Resignation

The board has accepted the resignation and requested the exchanges to update their records accordingly. The company has also confirmed that Ms. Chordia does not hold directorships in any other listed entities.

Solarworld Energy Solutions Limited has initiated a postal ballot process to seek shareholder approval for several key resolutions, including the appointment of independent directors and alterations to its Memorandum of Association. The company has also placed resolutions for approving material related party transactions with its promoters and wholly-owned subsidiaries. The remote e-voting facility will be available to members whose names appear in the register of members or beneficial owners as of May 8, 2026.

Appointment of Independent Directors

The Board of Directors has recommended the appointment of four individuals as Non-Executive Independent Directors for a term of five years commencing from May 1, 2026, to April 30, 2031. The proposed appointees include Mr. Rajiv Gupta, Ms. Ritu Hastir, Mr. Subhash Kumar Changoiwala, and Mr. Upendra Goyal. Additionally, shareholders are requested to approve the continuation of Mr. Upendra Goyal’s directorship beyond September 10, 2026, as he attains the age of 75 years on that date. These appointments require approval via special resolution.

Alteration of Memorandum of Association

The company has proposed alterations to the Object Clause of its Memorandum of Association. The resolution seeks the deletion of sub-clauses 6 to 9 under Clause III(a), which pertain to the business of food products, as the company is currently focused on solar energy. Furthermore, the company seeks to insert new sub-clauses 41 and 42 under Clause III(b) to provide enabling provisions for borrowing funds and investing its resources, subject to applicable laws.

Related Party Transactions

Shareholders are also asked to approve ordinary resolutions for material related party transactions with promoter entities and directors. The company seeks approval to enter into transactions with Pioneer Facor IT Infradevelopers Private Limited, Mr. Kartik Teltia, Mr. Rishabh Jain, Mr. Sushil Kumar Jain, and Mr. Mangal Chand Teltia. The aggregate limits for these transactions for the financial year 2026-27 are detailed below:

Subsidiary Transactions

Resolutions have also been proposed for related party transactions involving the company’s wholly-owned subsidiaries: ZNShine Solarworld Private Limited, Kartik Solarworld Private Limited, and Solarworld BESS ONE Private Limited. These transactions involve corporate and personal guarantees extended by promoters and related parties to facilitate borrowing requirements for the subsidiaries. The aggregate values for these transactions are ₹250 crore, ₹400 crore, and ₹640 crore respectively.

E-Voting Schedule

The company has appointed National Securities Depository Limited (NSDL) as the agency for providing the remote e-voting facility. The voting period commences on Friday, May 15, 2026, at 9:00 A.M. IST and concludes on Saturday, June 13, 2026, at 5:00 P.M. IST. Members can cast their votes electronically during this period. The results of the postal ballot will be declared within the prescribed timelines and communicated to the stock exchanges.