Asian Energy Services Limited has successfully concluded its postal ballot process with shareholders approving all five proposed resolutions with overwhelming majority. The company announced the voting results on January 6, 2026, following the completion of the remote e-voting process that concluded on January 5, 2026.

Postal Ballot Results Overview

The postal ballot notice, originally issued on November 14, 2025, sought shareholder approval for several significant corporate actions. All resolutions were passed with requisite majority through the remote e-voting process conducted by NSDL.

Material Related Party Transactions Approved

Shareholders approved both material related party transactions with strong support:

These transactions, totaling ₹415.00 crores, were considered material under SEBI regulations as they exceed 10% of the company's annual consolidated turnover.

Stock Option Remuneration for Directors

The company received overwhelming shareholder support for stock option remuneration proposals for non-executive directors:

Both resolutions were passed as special resolutions under the Asian Energy Services Limited Employee Stock Option Plan 2025 (AESL ESOP 2025), aligning with modern corporate governance practices.

Fund Reallocation Approved

Shareholders also approved the reallocation of ₹25.00 crores from earlier earmarked capital expenditure to working capital requirements with 99.99% approval. This adjustment involves proceeds from convertible warrants that totaled ₹157.45 crores, indicating the company's strategic shift toward operational liquidity.

Corporate Governance and Compliance

The postal ballot process was conducted in compliance with Section 110 of the Companies Act, 2013, and SEBI regulations. The scrutinizer's report confirmed that all procedural requirements were met, with the e-voting platform remaining accessible for the prescribed 32-day period.

The strong shareholder support across all resolutions reflects confidence in the company's strategic direction and governance practices. These approvals position Asian Energy Services for enhanced business opportunities while maintaining operational flexibility in its expansion phase.

Asian Energy Services Limited has announced the resignation of its Independent Director Mr. Brij Mohan Bansal, effective January 03, 2026, and subsequently reconstituted its board committees with effect from January 02, 2026. The resignation comes as Mr. Bansal reaches the age of 75 years, marking the end of his tenure with the Mumbai-based energy services company.

Resignation Details and Timeline

The company informed stock exchanges on December 30, 2025, pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Bansal, who holds Director Identification Number (DIN) 00261063, submitted his resignation letter on December 30, 2025.

Board Committee Reconstitution

Following Mr. Bansal's resignation from the Audit Committee and Nomination & Remuneration Committee, the Board of Directors approved the reconstitution of both committees with effect from January 02, 2026.

Nomination and Remuneration Committee

Audit Committee

Other Directorships

Mr. Bansal maintains significant responsibilities across multiple listed entities. His current directorships and committee positions include:

Company's Acknowledgment

Asian Energy Services has placed on record its appreciation for Mr. Bansal's contributions during his association as Independent Director. The company received confirmation from Mr. Bansal that there are no material reasons for the resignation other than those stated in his resignation letter.

The resignation follows standard corporate governance practices, with the company ensuring full compliance with SEBI Listing Regulations and providing all required disclosures to stock exchanges. Company Secretary & Compliance Officer Shweta Jain (Membership No. 23368) signed the regulatory filing on behalf of the company.