Shanti Educational Initiatives Ltd. Announces Alteration of MOA, Re-appointment of Director, and Approval of Composite Scheme of Arrangement

Shanti Educational Initiatives Ltd. has announced that its Board of Directors has approved several key matters during their meeting held on 2 March 2026. The Board has approved the alteration of the object clause of the memorandum of association (MOA) of the Company, subject to the approval of shareholders. The amendment will enable the Company to enter into any scheme of arrangement including amalgamation, de-merger, or any other compromise or arrangement. The Board has also approved the re-appointment of Shri Susanta Kumar Panda as an Independent Director for a second term of five years, subject to approval by the members of the Company. Additionally, the Board has considered and approved a Composite Scheme of Arrangement among Shanti Educational Initiatives Limited, Shanti Learning Initiatives Private Limited, and Grew Energy Private Limited, pursuant to Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. The proposed Scheme provides for the transfer and vesting of the Transferred Undertaking from the Transferor Company to the Transferee Company on a Slump Sale basis, and the amalgamation of the Amalgamating Company with the Amalgamated Company, resulting in the dissolution of the Amalgamating Company without being wound up.