Spacenet Enterprises India Ltd has secured shareholder approval to alter its object clause and increase authorised share capital through a postal ballot process that concluded on June 12, 2026. The company also received the green light to raise capital via qualified institutions placement (QIP) and appointed a new independent director. These decisions were taken following the scrutiny of votes cast by members electronically, with no physical postal ballot forms dispatched or received.

The e-voting period, conducted via the Central Depository Services (India) Limited (CDSL) platform, commenced on May 14, 2026, and concluded on June 12, 2026. Balaramakrishna Desina, Proprietor of Balaramakrishna & Associates, served as the scrutinizer for the process. The cut-off date to determine shareholder eligibility was May 8, 2026.

Resolution Results

All four resolutions were passed with the requisite majority. The special resolution to alter the object clause of the Memorandum of Association received 100% of the valid votes cast. The ordinary resolution to increase the authorised share capital was approved by 99.99% of the valid votes.

Capital Raise and Appointment

Shareholders approved a special resolution permitting the company to issue equity shares and other eligible securities, including convertible instruments and warrants, through private placement or QIP. This resolution received 99.98% approval, with 58,221 shares voting against it.

In a separate appointment, Mr. Deenadayal Tripurasetty (DIN: 10200896) was appointed as a Director (Non-Executive & Independent) of the company. This special resolution also passed with 99.98% of the valid votes in favour. The scrutinizer's report confirms that the results were declared on June 12, 2026.

Dr. S. Ravi has resigned as Non-Executive Non-Independent Director and Chairman of spacenet enterprises effective June 1, 2026, due to personal reasons. The resignation was communicated to the company via email on June 1, 2026, and has been accepted by the board. This development was disclosed to the National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

In his resignation email, Dr. S. Ravi confirmed there were no other material reasons for his departure aside from personal reasons. He expressed gratitude to the board and management for their support during his tenure. The company has been requested to complete the necessary formalities to record the resignation.

The resignation creates a vacancy in the position of Chairman and reduces the strength of the board. The company is yet to announce a replacement or the schedule for appointing a new chairman. The filing was signed by Monish Jaiswal, Company Secretary & Compliance Officer, on behalf of Spacenet Enterprises India Limited.