Sasken Technologies Limited , a leading provider of product engineering and digital transformation services, has successfully completed the shareholder approval process for the appointment of Ms. Meeta Malhotra as an Additional Director in the Non-Executive Independent category. The appointment, which was effective October 22, 2025, has now received overwhelming shareholder support through a postal ballot process.

Shareholder Approval Results

The postal ballot results announced on January 6, 2026, demonstrated strong shareholder confidence in the appointment. The voting details are as follows:

Key Details of the Appointment

About Meeta Malhotra

Ms. Malhotra brings a wealth of experience to Sasken Technologies, with over 25 years of leadership in brand consulting, marketing, and design. Her impressive background includes:

• Partner at Ray+Keshavan, a leading brand consultancy acquired by WPP
• Co-Founder of Kinetic Glue, a SaaS collaboration platform acquired by BMC Software
• Current member of the Management Committee of Plaksha University
• Stanford Distinguished Careers Institute Fellow (2024–25)
• Volunteer consultant for the Stanford Seed program

Postal Ballot Process Details

The postal ballot was conducted in compliance with the Companies Act, 2013 and SEBI Listing Regulations. Key process highlights include:

The appointment was based on the recommendation of Sasken Technologies' Nomination and Remuneration Committee and approved by the Board of Directors. In compliance with regulatory requirements, the company confirmed that Ms. Malhotra has not been debarred from holding the office of Director by any regulatory authority.

Strategic Implications

This appointment aligns with Sasken Technologies' commitment to maintaining a diverse and experienced board. Ms. Malhotra's extensive background in brand strategy and entrepreneurship is expected to bring fresh perspectives to the company's strategic decisions, particularly in areas of brand development and technology innovation. The overwhelming shareholder support demonstrates confidence in the board's decision and the value Ms. Malhotra is expected to bring to the organization.

Sasken Technologies Limited has provided clarification to BSE regarding significant movement in its stock price, attributing the increase to market conditions while confirming compliance with all disclosure requirements. This development comes alongside ongoing GST proceedings where the company faces demands totaling Rs 45.29 crore.

Stock Price Movement Clarification

In response to BSE's inquiry dated December 26, 2025, Sasken Technologies stated that the significant increase in its stock price is purely due to market conditions. The company emphasized that it has made timely disclosures of all events and information required under SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

The company confirmed that there are currently no undisclosed events or information that would have a bearing on its operations or performance requiring disclosure under the listing regulations.

Ongoing GST Proceedings

Meanwhile, Sasken Technologies continues to face GST demands following the dismissal of its appeals by the Joint Commissioner Appeals-5. The orders, received on December 5, 2025, pertain to alleged violations related to reverse charge on payments made to overseas branches.

Company's Position and Compliance

Sasken Technologies maintains that there is no material impact on its financial or operational activities due to the GST proceedings. The company plans to exercise its right to appeal before the Goods and Services Tax Appellate Tribunal (GSTAT).

The trading window for designated persons remains closed effective December 16, 2025, in view of the consideration of financial results for the quarter ending December 31, 2025. Company Secretary Paawan Bhargava signed the clarification, reaffirming the company's commitment to making requisite disclosures as per listing regulations.

Market Implications

While the company attributes the stock price movement to market conditions, investors should consider both the ongoing GST litigation and the company's transparent approach to regulatory compliance. The closure of the trading window indicates upcoming quarterly results, which may provide further insights into the company's operational performance.