Sparc Electrex Limited has issued a Postal Ballot Notice dated August 5, 2026, seeking shareholder approval for the appointment of three independent directors. The Board of Directors initially appointed Ms. Asha Shravan Kumar Khedia, Mr. Jayantilal Raghunathram Suthar, and Mr. Rohit Bhatia as Additional Directors on June 6, 2026. Shareholders must vote via remote e-voting between August 7, 2026, and September 5, 2026, to confirm these appointments for a five-year term commencing June 6, 2026.

The appointments are critical for maintaining the statutory composition of the Board following the resignation of Mr. Niraj Hareeshbhai Variava on June 7, 2026. The move ensures compliance with Section 149 of the Companies Act, 2013, which mandates a minimum number of independent directors. The resolutions were recommended by the Nomination and Remuneration Committee and signed by Managing Director Shobith Ganesh Hegde from the company's registered office in Mumbai.

Proposed Independent Directors

The postal ballot seeks approval for the following individuals, each serving a first term until June 5, 2031:

All three candidates have attended two out of two board meetings held so far and hold no shares in the company. They have submitted declarations confirming their independence under Section 149(6) of the Companies Act, 2013, and Regulation 16(1)(b) of the SEBI Listing Regulations.

Professional Profiles

Asha Shravan Kumar Khedia is a Practicing Company Secretary with over 13 years of experience in Taxation and Corporate Advisory. She has received multiple "Letters of Appreciation" from the Principal Director General of Income Tax for her service at the Income Tax Lounge, Mumbai.

Jayantilal Raghunathram Suthar brings 15 years of experience in Accounts, Audit, Taxation, and Corporate laws. His appointment replaces Mr. Variava, ensuring the Board maintains its required independent director quota.

Rohit Bhatia is a Practicing Company Secretary with more than five years of expertise in Corporate Governance and Regulatory matters. His background includes advisory services on Board effectiveness and appearances before the Registrar of Companies (ROC) and National Company Law Tribunal (NCLT).

E-Voting Schedule and Process

The company engaged Central Depository Services (India) Limited (CDSL) as the e-voting agency. The notice was dispatched electronically to all members registered as of July 31, 2026. No physical ballot forms will be accepted.

M/s. Pankaj Trivedi (Membership No. 30512), Practicing Company Secretary, has been appointed as the Scrutinizer to ensure a fair and transparent process. Results will be published on the company’s website and communicated to the stock exchanges simultaneously.

Sparc Electrex Limited accepted the resignation of Independent Director Sushmita Swarup Lunkad effective from the closing hours of August 5, 2026, citing professional and personal preoccupations. The Board of Directors also approved shifting the company’s registered office within Mumbai to B-307, Hind Saurashtra Industrial Estate, Andheri (East), and authorized the dispatch of a Postal Ballot notice to shareholders. These administrative updates ensure continuity in corporate governance while updating key operational infrastructure details under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board authorized Managing Director Shobith Ganesh Hegde and Company Secretary Niki Singh to finalize and dispatch the Postal Ballot notice. This mechanism allows shareholders to vote on specific resolutions outside the Annual General Meeting framework. The company appointed M/s Pankaj Trivedi & Company (Mem No. A30512), Practicing Company Secretary, as the scrutinizer to monitor the e-voting process, ensuring transparency and compliance with regulatory standards. Mr. Hegde and Ms. Singh were designated as responsible for overseeing the entire poll process.

Governance and Personnel Changes

Ms. Lunkad (DIN: 09044848) stepped down from her position as an Independent Director along with all associated committee memberships and chairmanships. In her resignation letter, she confirmed that there are no material reasons for her departure other than those stated. The Board acknowledged her resignation and initiated necessary statutory compliances, including filings with the Registrar of Companies and disclosures to stock exchanges as per SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

Operational Updates

The Board approved shifting the company’s registered office within the local limits of Mumbai. The new address will be B-307, Hind Saurashtra Industrial Estate, Sir M. V. Road, Nr. Mittal Estate, J B Nagar, Marol, Andheri (East), Mumbai - 400059. This move replaces the previous location at 1202, 12th Floor, Esperanza Building, Bandra (West). The change aims to streamline operational logistics while maintaining the company’s presence in the same metropolitan area.

Postal Ballot Timeline

Shareholders are advised to note the critical dates for the upcoming Postal Ballot. The voting process is structured to provide ample time for investor participation and scrutiny.