Urja Global Limited announced on September 24, 2026, that Amitav Roy has resigned from his position as Chief Executive Officer and Key Managerial Personnel. The resignation is effective from September 25, 2026.

The company filed an intimation with BSE and NSE under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing stated that Roy tendered his resignation via email on September 24, 2026, citing personal reasons.

Resignation terms and immediate release

According to the correspondence included in the disclosure, Roy accepted the company’s proposal for immediate release from services. The agreement stipulates that his final exit is subject to the immediate processing and clearance of his earned salary for the seven days worked in September 2026.

Key conditions of the exit include:

• Immediate credit of earned salary for September 2026.
• Issuance of a formal relieving letter effective September 25, 2026.
• Confirmation that all company assets, including workstation, laptop, and phone, have been returned.

Regulatory disclosure details

The company provided the following details in Annexure I, as required by SEBI circulars regarding changes in Key Managerial Personnel:

Managing Director Mohan Jagdish Agarwal signed the intimation. The company confirmed that no other relationships or appointment profiles were applicable as this was a cessation event.

Urja Global Limited shareholders approved a proposal to raise funds aggregating up to $500 million through various securities during the 34th Annual General Meeting held on September 22, 2026. This significant capital allocation plan sits alongside the approval of a new employee stock option scheme and key leadership reappointments.

The meeting, conducted via video conferencing, focused on governance updates, human capital incentives, and strategic financing mechanisms to support the company's renewable energy expansion.

Fund raising and capital structure

Members approved the proposal to raise funds aggregating up to $500 million. The company may utilize this capital through the issuance of securities, including convertible instruments, warrants, and debt instruments. The permitted methods include Qualified Institutional Placement, issue of Foreign Currency Convertible Bonds (FCCBs), Rights Issue, Further Public Offering, Private Placement, or any combination thereof, in one or more tranches.

Employee incentive schemes

A significant portion of the agenda involved human capital decisions. Shareholders approved the UGL ESOP Scheme – 2026 “Urja For All”. Key details of the scheme include:

• Option Pool: 56,00,000 (Fifty Six Lakhs) employee stock options, adjustable for corporate actions like bonus issues or stock splits.
• Conversion: Each option is convertible into one equity share with a face value of ₹1 each.
• Administration: The scheme will be administered by the Nomination and Remuneration Committee and implemented through direct allotment from the company.

Additionally, members approved the extension of grant eligibility under this scheme to employees of subsidiary companies, whether incorporated in India or outside India.

Leadership and governance updates

The board saw several changes in composition and tenure, ratified through ordinary and special business items:

Dr. Anuradha Tomar was appointed as a Non-Executive Independent Director for an initial term of five consecutive years effective August 5, 2026. She holds a Ph.D. in Electrical Engineering from IIT Delhi and serves as an Associate Professor at the University of Delhi. Her research interests include energy management and solar photovoltaic applications.

Dr. Gopalsetty Prasad Rao was approved for continuation as a Non-Executive Independent Director upon attaining the age of 75 years in July 2027, in accordance with SEBI regulations.

Mohan Jagdish Agarwal was reappointed as Managing Director for a further period of five years effective November 13, 2026. Yogesh Kumar Goyal’s tenure as Whole-Time Director was also approved for continuation for five years effective August 5, 2026.

Strategic focus and auditor observations

Chairman Dr. Gajanand Gupta outlined the company's vision centered on renewable energy, solar solutions, energy storage, and electric mobility. He highlighted the company's 6P-6E framework and its commitment to sustainable growth and innovation.

It is noted that the Auditor's Reports contained certain qualifications. These qualifications were read out at the meeting by Ms. Mamta, representing M/s Uttam Abuwala Ghosh & Associates, in compliance with Secretarial Standard-2 (SS-2). The specific nature of these qualifications was not detailed in the summary provided to shareholders.

Voting process and outcome

The company utilized remote e-voting facilities through National Securities Depository Limited (NSDL) for members registered as of September 15, 2026. The voting window opened on September 19, 2026, and closed on September 21, 2026. Members who did not vote remotely could cast their votes during the live AGM session.

K. O. Siddiqui of M/s Siddiqui & Associates, acting as the Scrutinizer, confirmed that all Ordinary and Special Resolutions set out in the Notice dated August 5, 2026, were duly approved by the members with the requisite majority. The consolidated scrutinizer's report, submitted on September 23, 2026, verified the votes cast through remote e-voting and e-voting at the AGM.