Spacenet Enterprises India Limited convened a Board of Directors meeting on May 06, 2026, wherein the board considered and approved a series of significant corporate actions pursuant to the provisions of the Companies Act, 2013 and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting commenced at 04:00 P.M (IST) and concluded at 04:30 P.M (IST).

Appointment of Independent Director

The board approved the appointment of Mr. Deenadayal Tripurasetty (DIN: 10200896) as Additional Director (Non-Executive & Independent Director) with effect from May 06, 2026, based on the recommendation of the Nomination and Remuneration Committee. The key details of the appointment are as follows:

Mr. Deenadayal Tripurasetty is an experienced professional with expertise in corporate governance, strategic management, and business operations. The board affirmed that he is not debarred from holding the office of Director by virtue of any SEBI order or any other authority, and that he meets the criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013 and Regulation 16(1)(b) of SEBI (LODR) Regulations, 2015. He is not related to any of the Directors or Key Managerial Personnel of the Company.

Increase in Authorized Share Capital

The board approved and recommended for shareholders' approval an increase in the Authorized Share Capital of the Company. The details of the proposed capital restructuring are outlined below:

The purpose of this increase is to provide adequate headroom for future fund-raising initiatives, including issuance of equity shares and/or other eligible securities through permissible modes.

Amendment to Memorandum of Association

The board approved alteration of the Memorandum of Association (MOA) under Section 13 of the Companies Act, 2013, subject to shareholder approval. The proposed amendments involve inserting new sub-clauses (Clause 19 to Clause 21) after the existing Clause 18 in the Main Objects, as well as amending Clause 6 to Clause 10 and Clause 13 to Clause 18 by adding the phrase "directly or indirectly" at appropriate places. The new object clauses proposed to be inserted cover the following business areas:

• Renewable and clean energy: Generation, transmission, distribution, storage, and utilization of power from renewable or clean energy sources, including electric mobility and clean transportation
• Electric vehicles and clean energy dealing: Manufacturing, assembling, trading, and dealing in electric vehicles (EVs), charging stations, battery systems, and allied equipment
• EV and renewable energy training and research: Training, research, consultancy, and technological development in renewable energy and EV infrastructure, including charging networks and battery management systems

Fund-Raising Proposal

The board approved and recommended for shareholders' approval the issuance of equity shares and/or other eligible securities through one or more permissible modes. The key details of the fund-raising proposal are as follows:

Reconstitution of Board Committees

The board approved the reconstitution of its key committees effective May 06, 2026, to ensure compliance with SEBI (LODR) Regulations and the Companies Act, 2013. The revised compositions are as follows:

Audit Committee

Nomination and Remuneration Committee

Stakeholders Relationship Committee

Risk Management Committee

Postal Ballot Notice

The board also approved a Postal Ballot Notice to seek shareholder approval for the following matters:

• Increase in Authorized Share Capital
• Alteration of the Memorandum of Association
• Fund Raising (QIP)
• Appointment of Director

All the above resolutions are subject to the requisite approval of shareholders of Spacenet Enterprises India Limited.

Spacenet enterprises India Limited has announced the cessation of its Independent Director Mr. Prathipati Parthasarathi, effective 29th April, 2026, following the completion of his five-year term. The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Term Details

Mr. Prathipati Parthasarathi, holding Director Identification Number (DIN) 00004936, was originally appointed as an Independent Director of the company for a term of five consecutive years commencing from 30th April, 2021. His current term expired on 29th April, 2026, marking the natural conclusion of his directorship tenure.

Reappointment Process

The company had placed a proposal for Mr. Parthasarathi's reappointment as an Independent Director before the shareholders through a postal ballot process. However, the shareholders did not approve the reappointment proposal, resulting in his cessation from the board upon completion of his present term.

Regulatory Compliance Details

The company has provided comprehensive disclosure details as required under SEBI regulations:

Corporate Governance Impact

The cessation represents a routine corporate governance matter where an Independent Director's term has concluded without shareholder approval for renewal. Mr. Parthasarathi also holds directorship in String Metaverse Limited, as disclosed in the regulatory filing. The company has confirmed that there are no other material reasons associated with the cessation beyond the completion of term and non-approval of reappointment.

Compliance Framework

The announcement was signed by Company Secretary and Compliance Officer Monish Jaiswal, ensuring adherence to the regulatory framework governing director cessations. The disclosure fulfills the company's obligations under Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.