Sharika enterprises has successfully completed its postal ballot process for the appointment of an Independent Director, with shareholders demonstrating strong support for the proposed resolution. The company conducted the voting process entirely through electronic means, following regulatory guidelines and ensuring transparent governance practices.

Postal Ballot Process Overview

The postal ballot notice was issued on January 27, 2026, seeking shareholder approval for the appointment of Mr. Tej Kishen Wali (DIN: 02413663) as an Independent Director through a special resolution. The e-voting facility was provided through Central Depository Services (India) Limited (CDSL), with the voting period commencing on Thursday, February 5, 2026, at 9:00 a.m. (IST) and concluding on Friday, March 6, 2026, at 5:00 p.m. (IST).

Voting Results and Shareholder Response

The resolution received overwhelming support from shareholders, with 98.90% of valid votes cast in favor of Mr. Tej Kishen Wali's appointment as Independent Director. The voting participation was significant, with 28,598,270 votes polled out of 43,300,000 total shares, representing 66.05% of outstanding shares.

Scrutinizer's Report and Compliance

Aditya S & Associates, Company Secretaries, served as the appointed scrutinizer for the postal ballot process. CS Aditya Sharma (COP No. 27034) submitted the scrutinizer's report on March 6, 2026, confirming that the resolution was passed with the requisite majority. The scrutinizer verified that all voting procedures were conducted in accordance with the Companies Act, 2013, and applicable SEBI regulations.

Resolution Details

The special resolution sought approval for the appointment of Mr. Tej Kishen Wali (DIN: 02413663) as an Independent Director of the company. The appointment follows the provisions of Section 110 of the Companies Act, 2013, read with the Companies (Management and Administration) Rules, 2014, and various MCA circulars issued for conducting postal ballots through electronic means.

Corporate Governance and Next Steps

With the successful passage of the resolution, Sharika Enterprises Limited can now proceed with the formal appointment of Mr. Tej Kishen Wali as an Independent Director. The voting results and scrutinizer's report have been uploaded on the company's website and CDSL's e-voting portal for stakeholder reference. The company has also submitted the required disclosures to BSE Limited under Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Sharika enterprises has announced securing a substantial order from Power Grid Corporation of India Limited, marking a significant development in its renewable energy business segment. The company disclosed this material information under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, highlighting the importance of this contract for its business operations.

Contract Details and Specifications

The order involves supply and installation of a 329 kWp rooftop grid connected Solar PV system for Power Grid Corporation of India Limited, described as "A Government of India Enterprise." The comprehensive project encompasses both supply and installation components, positioning Sharika Enterprises as a complete solution provider in the solar energy sector.

Project Timeline and Maintenance

The contract stipulates a 6-month execution period for the complete supply and installation of the solar PV system. Additionally, the agreement includes a comprehensive maintenance contract extending for 5 years, ensuring long-term service commitment and potential recurring revenue for Sharika Enterprises. This extended maintenance component demonstrates the company's capability to provide ongoing technical support and system optimization services.

Regulatory Compliance and Disclosure

Sharika Enterprises has fulfilled its regulatory obligations by disclosing this contract under SEBI Listing Regulations, specifically following SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The company confirmed that this contract does not involve any related party transactions and that promoters or group companies have no interest in the contracting entity. The disclosure was made through proper channels to BSE Limited, ensuring transparency for all stakeholders.

Strategic Significance

This order from a prestigious government enterprise reinforces Sharika Enterprises' position in the renewable energy infrastructure sector. The contract with Power Grid Corporation of India Limited, being a major government entity, adds credibility to the company's project execution capabilities and may potentially lead to future opportunities in the expanding solar energy market.