Spacenet Enterprises India Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 29, 2025
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Spacenet Enterprises India Limited (SPCENET) held its 15th Annual General Meeting on September 29, 2025, via video conferencing, with 72 members present. Since Chairman Shri. Sethurathnam Ravi was absent, Executive Director & CFO Shri. D. V. Surya Prakash Rao was elected to chair the meeting. Nine resolutions were proposed, including adoption of audited financial statements for FY ended March 31, 2025, re-appointment of rotational director Mr. Ghanshyam Dass, appointment of a secretarial auditor, and approvals for raising borrowing limits and creating security on company assets. Members also voted on disposal of shares or assets of material subsidiary Thalassa Enterprises Limited, loans and guarantees to interested parties, material related party transactions, and alteration of the Object Clause of the Memorandum of Association. Voting results will be submitted to stock exchanges within two working days of the meeting conclusion.
Several special business items — including enhanced borrowing powers, disposal of a material subsidiary's assets, and expanded related party transaction limits — could affect the company's capital structure, subsidiary value, and exposure to related parties. Shareholders should review the voting results once declared to understand which proposals were approved and their potential effect on the stock and shareholder rights.