Prabha Energy Limited has successfully completed its postal ballot process through remote e-voting, with shareholders approving significant board changes and management appointments. The voting process, conducted from January 01, 2026 to January 30, 2026, saw substantial participation from the company's shareholder base.

Voting Process and Participation

The postal ballot was conducted in accordance with Section 110 of the Companies Act, 2013, with the notice dated December 26, 2025. The company recorded strong shareholder engagement with detailed participation across different categories.

Approved Resolutions

All three resolutions presented to shareholders received overwhelming approval, demonstrating strong confidence in the proposed changes.

Detailed Voting Results

The voting results across all three resolutions showed remarkable consistency in shareholder support. For the appointment of Mrs. Shivangi Digant Shah (DIN: 11200412) as non-executive independent director, 121,230,884 votes were cast in favor with only 27 votes against, representing 100.00% approval of valid votes cast.

Similarly, the regularization of Mr. Shanil Paras Savla (DIN: 08763065) as director received 121,229,931 votes in favor against 27 opposing votes. His subsequent re-designation as managing director garnered 121,229,932 supporting votes with the same minimal opposition of 27 votes.

Shareholder Category Participation

The voting pattern revealed strong support from the promoter and promoter group, who hold 109,837,209 shares and participated with over 98% of their holdings. Public non-institutional shareholders, holding 26,448,765 shares, showed 50.18% participation with 13,272,814 votes polled.

Scrutinizer Report and Compliance

The postal ballot process was overseen by Rajesh Parekh, Practicing Company Secretary, who served as the appointed scrutinizer. The e-voting results were unblocked on January 31, 2026, in the presence of independent witnesses Ms. Aishwarya Parekh and Mr. Jay Surti. The process was conducted through MUFG Intime India Private Limited's platform, ensuring transparency and compliance with regulatory requirements.

The company has fulfilled all disclosure obligations under Regulation 30 and 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with detailed reports available on both the company website and the registrar's portal.

Prabha Energy Limited has issued a comprehensive postal ballot notice seeking shareholder approval for critical director appointments and organizational changes. The company has established a structured e-voting process to facilitate remote shareholder participation in key corporate decisions.

E-Voting Schedule and Process

The company has implemented a detailed timeline for the postal ballot process with specific dates for each phase of the voting procedure.

The postal ballot notice will be distributed exclusively through electronic mode to shareholders who have registered their email addresses with their Depository Participants or with MUFG Intime India Private Limited, the company's registrar and share transfer agent.

Proposed Director Appointments

The postal ballot encompasses three significant resolutions related to director appointments and organizational restructuring.

Independent Director Appointment

The first resolution seeks approval for appointing Mrs. Shivangi Digant Shah (DIN: 11200412) as Non-Executive Independent Director. She was initially appointed as Additional Director on November 4, 2025, and the proposed appointment would be for a term of five consecutive years commencing from November 4, 2025.

Mrs. Shah holds a master's degree in business administration from Gujarat University and is an associate member of the Institute of Company Secretaries of India.

Managing Director Appointment and Remuneration

The second and third resolutions address the regularization and re-designation of Mr. Shanil Paras Savla (DIN: 08763065) as Managing Director. He was appointed as Additional Director effective January 1, 2026, and the proposed re-designation would establish him as Managing Director for three years.

The remuneration package includes comprehensive perquisites such as company-provided car and telephone for business use, mobile instrument and bill payments, electricity charges, insurance premium reimbursement, and club fee coverage.

Corporate Governance and Compliance

The postal ballot process adheres to multiple regulatory frameworks including the Companies Act 2013, SEBI Listing Obligations and Disclosure Requirements Regulations 2015, and various MCA and SEBI circulars. The company has appointed Mr. Rajesh Parekh (Membership No. A8073) as the scrutinizer to ensure fair and transparent conduct of the postal ballot process.

Shareholders can access the complete postal ballot notice on the company's website at www.prabhaenergy.com and on MUFG Intime India Private Limited's platform. The e-voting facility provides multiple login methods for different categories of shareholders, including individual shareholders holding securities in demat mode with NSDL or CDSL, and institutional shareholders.

Financial Context and Strategic Direction

According to the company's standalone financial performance for the year ended March 31, 2025, Prabha Energy reported a turnover including other income of ₹203.05 lakhs, with total expenses of ₹428.66 lakhs, resulting in a loss before tax of ₹225.61 lakhs and loss after tax of ₹156.48 lakhs. The company operates in the oil and gas sector with business interests in both conventional and unconventional exploration, production, and trading, maintaining a portfolio of onshore exploration and production assets.