1. Approval of EGM Notice: The Board considered and approved the draft Notice convening the Extra-Ordinary General Meeting (EGM) of the shareholders of the Company to be held on Tuesday, ....
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Sharpline Broadcast's board, at a meeting held on July 18, 2025, approved a notice for an EGM on Tuesday, August 12, 2025 (to be held via video conferencing). Two special resolutions will be tabled for shareholder approval: (1) a strategic investment in KDM Business Network Limited through a Share Purchase Agreement at ₹50 per equity share, which would make KDM a subsidiary of Sharpline by virtue of holding more than 50% of its share capital, and (2) authorization under Section 186 of the Companies Act to give loans, guarantees, or acquire securities of other companies up to ₹100 crore outstanding at any time. The KDM transaction is a related-party deal — three of the four directors (Mr. Satyabrata Mukherjee, Mr. Sanjeev Kumar Jha, and Mrs. Urmil Gupta) are interested due to common directorships and shareholding in KDM. As a result, the board could not muster the required quorum of two non-interested directors under Section 174(3) and is referring the deal to shareholders. Voting will be conducted electronically through NSDL, with the remote e-voting window from August 9 to August 11, 2025 (cut-off date August 6, 2025).
Shareholders should carefully evaluate the KDM investment, as it is a related-party transaction where most directors have a personal interest. If approved, KDM will become a subsidiary and could materially reshape Sharpline's business. The separate ₹100 crore Section 186 authorization gives the board wide latitude for future investments and loans.