STL Networks Limited has announced a postal ballot seeking shareholder approval for several key financial and operational matters. The company is requesting approval to enter into material related party transactions, including up to ₹700 crore with Sterlite Technologies Limited and up to ₹300 crore with Sterlite Tech Cables Solutions Limited. These transactions are expected to be in the ordinary course of business and on an arm's length basis, valid for one year from the date of approval. Furthermore, shareholders will vote on increasing the company's borrowing powers to ₹3,000 crore. This includes the exercise of borrowing powers under Section 180(1)(c) of the Companies Act, 2013, and the creation of charges on the company's movable and immovable properties to secure these borrowings. Additionally, the company seeks approval to give loans and invest funds in excess of the limits prescribed under Section 186 of the Companies Act, 2013, up to an aggregate sum of ₹1,500 crore. This covers giving loans, inter-corporate deposits, providing guarantees or security, and investing in shares or other financial instruments. The remote e-voting period for these resolutions commenced on April 9, 2026, and will conclude on May 8, 2026. The cut-off date for determining voting rights was April 3, 2026.
