StarlinePS Enterprises has announced that Yashkumar Trivedi will cease to hold the position of Independent Director on August 22, 2026, after the close of business on that day. The departure follows the completion of his first consecutive five-year term. Trivedi has submitted an unwillingness letter dated July 29, 2026, stating that he does not wish to be reappointed due to commitments associated with his personal business, which limit the time he can devote to the company. Consequently, he will also step down from his roles as Chairperson or Member of the Audit Committee, Nomination & Remuneration Committee, Stakeholders' Relationship Committee, Risk Management Committee, and Corporate Social Responsibility Committee.

The company disclosed the change pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was issued in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Madhuriben Chhatrola, Company Secretary & Compliance Officer, signed the communication to the BSE Limited.

Trivedi confirmed that there are no other material reasons for his cessation beyond those stated in his unwillingness letter. He also declared that he does not hold any directorship or membership of board committees in any other listed entity. The company noted that Trivedi is not debarred from holding the position of director by SEBI or any other authority.

Key Details of Cessation

Impact on Board Composition

Trivedi’s exit removes him from all board committee memberships simultaneously with his directorship. The company must now initiate the process to appoint a new Independent Director to fill the vacancy and ensure continued compliance with regulatory requirements for independent representation on its committees. The specific timeline for the appointment of a successor was not detailed in the current filing.

Regulatory Compliance

The disclosure aligns with the mandatory reporting standards for changes in board composition under the SEBI Listing Regulations. The company has made the relevant details available on its website, www.starlineps.com , as required. The filing confirms that Trivedi’s departure is voluntary and based on personal capacity constraints rather than any dispute or regulatory action.

StarlinePS Enterprises Limited has scheduled a remote e-voting process from July 3, 2026, to August 1, 2026, seeking shareholder approval for resolutions authorizing financial transactions up to ₹2000 crore and confirming the appointment of a new Independent Director. Shareholders recorded in the register of members as of the cut-off date, June 26, 2026, are eligible to participate. The company has appointed Mr. Manish R. Patel, Practicing Company Secretary, as the Scrutinizer to oversee the process, with the report and results expected to be declared on or before August 3, 2026.

The Board of Directors approved the appointment of Mr. Shreyansh Baid (DIN: 03269224) as an Additional Director (Non-Executive & Independent) effective July 1, 2026. Shareholder approval is sought to confirm his tenure for five consecutive years ending June 30, 2031. Mr. Baid possesses nearly 15 years of experience in corporate laws, governance, and valuation and is a Fellow Member of the Institute of Company Secretaries of India, a Chartered Accountant, and a Registered Valuer with IBBI.

Financial Approvals

A special resolution seeks authorization for the Board to make investments, grant loans, and provide guarantees or securities exceeding limits under Section 186 of the Companies Act, 2013. The total aggregate exposure is capped at ₹2000 crore, superseding the previous resolution passed at the 14th Annual General Meeting on September 25, 2025.

Specifically, the company proposes investing up to ₹350 crore in Celloraa Energy Private Limited, a solar cell manufacturing entity. This investment is structured in two phases: an initial tranche of ₹160 crore for 25,000 equity shares at ₹64,000 per share, followed by a second tranche of up to ₹190 crore. Additionally, shareholders are asked to approve providing guarantees or securities up to ₹1000 crore to Celloraa Energy Private Limited for a 10-year term to support working capital requirements.

Voting Process

The postal ballot is conducted exclusively through remote e-voting. The process commences on July 3, 2026, at 9:00 a.m. IST and concludes on August 1, 2026, at 5:00 p.m. IST. Mr. Manish R. Patel, Practicing Company Secretary, serves as the Scrutinizer to ensure transparency. Resolutions approved with the requisite majority will be deemed passed as of the conclusion date.