Pavna Industries Limited has informed the Exchange regarding voting results of Postal Ballot
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Pavna Industries Limited has disclosed the voting results of a postal ballot (remote e-voting) concluded on March 1, 2026. Four resolutions were put to shareholders: (1) authorising the Board to give loans/guarantees under Section 185, (2) authorising the Board to give loans/investments under Section 186, (3) material modification to an approved related party transaction, and (4) material related party transaction. All four resolutions were passed with over 99.99% approval. The promoter group's 85,804,000 shares were treated as invalid votes as they are interested parties in the related party resolutions. Excluding promoter votes, only 15,196,013 shares (10.89% of total outstanding shares) were polled, with negligible dissent (65-99 votes against across resolutions).
Shareholders have cleared the Board's authority to extend loans, give guarantees, and enter into material related party transactions, giving the company operational flexibility but also enabling significant transactions with related parties. The very low voter turnout (10.89%) and the fact that promoters were barred from voting on related party items may raise governance questions for minority shareholders.