Postal Ballot results and Scrutinizer''s Report
STLNETWORK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
STL Networks Ltd conducted a postal ballot via remote e-voting from April 9 to May 8, 2026, with results declared on May 9, 2026. All 5 resolutions were passed by shareholders. Key resolutions included: (1) Material related party transaction with Sterlite Technologies Limited passed narrowly with 56.88% approval (43.12% against) as promoters did not vote due to conflict of interest; (2) Material related party transaction with Sterlite Tech Cables Solutions Limited passed with overwhelming 99.51% approval; (3) Borrowing powers under Section 180(1)(c) passed with 99.93% approval; (4) Creation of charges on company properties for borrowings passed with 99.93% approval; (5) Investment of funds exceeding Section 186 limits passed with 91.43% approval, though public institutions voted 99.87% against this resolution.
All resolutions passed, enabling STL Networks to proceed with related party transactions and expand borrowing/investment powers. The narrow approval for Sterlite Technologies related party transaction and institutional opposition to the investment limits resolution indicate some shareholder concerns about these specific matters, though not blocking the proposals.