STL Networks Limited has announced the results of its postal ballot process conducted through remote e-voting, which concluded on May 19, 2026. The company sought shareholder approval for two special resolutions, including the alteration of its Articles of Association and the preferential issuance of warrants to promoter Twin Star Overseas Limited. The resolutions were passed with the requisite majority, as detailed in the scrutinizer's report submitted by CS Debasis Dixit of D Dixit & Associates.

Voting Results Summary

The remote e-voting process was managed by KFin Technologies Limited, with the record date set as April 10, 2026. A total of 230,258 shareholders were eligible to participate. The scrutinizer confirmed that the voting process was conducted fairly and transparently in compliance with the Companies Act, 2013, and SEBI Listing Regulations. Both resolutions received overwhelming support from the shareholders, particularly the promoter group.

Resolution Outcomes

The first resolution, regarding the alteration of the Articles of Association, was approved by 99.98% of the valid votes cast. The second resolution, which authorized the issuance of warrants convertible into equity shares to Twin Star Overseas Limited, was approved by 95.70% of the valid votes cast. The following table details the voting patterns for the key resolution concerning the warrant issuance:

Background and Compliance

The postal ballot notice was initially dispatched on April 19, 2026. Subsequently, the company issued a corrigendum on May 14, 2026, to update shareholders regarding a revised valuation report. The floor price was maintained at Rs. 23.8 per warrant, with an issue price of Rs. 24 per warrant, determined in accordance with Chapter V of the SEBI ICDR Regulations, 2018. The successful conclusion of this postal ballot allows the company to proceed with the preferential allotment to its promoter.

STL Networks Limited has disclosed that the Hon'ble High Court of Delhi dismissed its petition filed against Bharat Sanchar Nigam Limited (BSNL) under Section 34 of the Arbitration and Conciliation Act, 1996. The disclosure was made pursuant to Regulation 30 read with Para B of Part A of Schedule III of the SEBI Listing Regulations, with the update submitted on May 12, 2026.

Background of the Legal Proceedings

STL Networks had approached the Delhi High Court seeking to set aside an arbitral award dated May 09, 2023, that had been passed against the company in proceedings involving BSNL. The petition was filed under Section 34 of the Arbitration and Conciliation Act, 1996, which provides a statutory remedy for challenging arbitral awards before a court of law.

Key Details of the Development

The following table summarises the key particulars of the litigation update as disclosed by the company:

Company's Response and Financial Impact

STL Networks has clarified that the dismissal of the petition carries no financial impact on the company. However, the company has indicated that it is actively evaluating its options to file an appeal against the order passed by the Delhi High Court. The disclosure was signed by Meenal Bansal, Company Secretary and Compliance Officer (Membership No. ACS 35091), and was submitted in compliance with SEBI Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026, pertaining to updates on material litigations or disputes.

Regulatory Compliance

The update was filed in accordance with the company's obligations under the SEBI Listing Regulations, ensuring timely and transparent disclosure of material legal developments to stock exchanges. The company has requested the exchanges to take the information on record.