Sharpline Broadcast Limited , a company listed on the BSE and Metropolitan Stock Exchange, has announced a significant change in its board composition. Rakesh Kumar Gupta, who served as a Non-Executive and Non-Independent Director, has tendered his resignation from the company's board, effective October 31, 2025.

Resignation Details

The company disclosed this material event in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Here are the key details of the resignation:

Board Process and Relationships

The resignation was based on the recommendation of the Nomination and Remuneration Committee, adhering to corporate governance practices. It's worth noting that Mr. Gupta is related to Ms. Urmil Gupta, who is also a Director of Sharpline Broadcast Limited. This familial connection adds an interesting dimension to the board dynamics.

Company Response

Sharpline Broadcast Limited has formally accepted Mr. Gupta's resignation and will be making the necessary changes to their records. The company has also submitted the required documentation to the stock exchanges, including:

1. A brief explanation of Mr. Gupta's resignation reasons
2. The resignation letter from Mr. Gupta

Impact and Next Steps

While the company has not provided details on any immediate plans to fill the vacancy left by Mr. Gupta's departure, such changes in board composition can potentially influence the company's strategic direction and governance structure.

Shareholders and market observers will likely be keen to see how Sharpline Broadcast Limited addresses this change in its board and whether it will impact the company's operations or decision-making processes in the near future.

Sharpline Broadcast Limited held an Extraordinary General Meeting (EGM) on August 12, 2025, where shareholders voted on two special resolutions through e-voting. The meeting, conducted via video conferencing, saw significant support for both proposals put forth by the company.

Investment in KDM Business Network Limited

The first resolution, which proposed the investment in KDM Business Network Limited to make it a subsidiary company, received overwhelming approval from shareholders. Out of the total votes cast:

Authorization under Section 186

The second resolution sought authorization under Section 186 of the Companies Act, 2013. This resolution also garnered strong support, mirroring the voting results of the first resolution:

Voting Process and Participation

The e-voting period for these resolutions was open from August 9-11, 2025. Key details of the voting process include:

• Total participants: 80 shareholders
• Votes in favor: 63 shareholders
• Votes against: 17 shareholders
• Total votes cast: 0.033% of the company's total outstanding shares

Vivek Kumar, a practicing Company Secretary, served as the scrutinizer for the voting process, ensuring its fairness and transparency. The scrutinizer's report, dated August 13, 2025, confirmed the passing of both special resolutions with the requisite majority.

Implications for Sharpline Broadcast

The approval of these resolutions marks a significant step for Sharpline Broadcast Limited:

1. The investment in KDM Business Network Limited is likely to expand the company's operations and potentially create new synergies.
2. The authorization under Section 186 of the Companies Act provides the company with greater flexibility in making investments, giving loans, and providing guarantees or security in connection with loans to any person or other body corporate.

These decisions reflect the shareholders' confidence in the company's strategic direction and management's plans for growth and expansion. As Sharpline Broadcast moves forward with these approved measures, stakeholders will be keen to observe how these decisions impact the company's future performance and market position.

The company's commitment to transparency is evident in its prompt disclosure of the voting results and the detailed scrutinizer's report, which were made available to the stock exchanges on August 13, 2025.