Postal Ballot Notice dated March 29, 2025 ("the Notice") together with the Explanatory Statement seeking approval of the members of the company, by way of remote e-voting process for resolutions ....
PRAVEG · price
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Awaiting price reaction for this filing.
Praveg Limited has issued a Postal Ballot Notice dated March 29, 2025, seeking shareholder approval through remote e-voting for four resolutions. The first two are Special Resolutions to reappoint Independent Directors Mr. Ajit Kumar Panda and Mr. Rajendrakumar Patel for a second 5-year term each, up to August 21, 2030 — both currently serving their first term which ends August 21, 2025. The third and fourth are Ordinary Resolutions seeking approval for material related party transactions for FY 2025-26: up to INR 45 crore with Jhaveri Credits & Capital Limited (JCCL) for receiving loans, guarantees or securities, and up to INR 20 crore with Fourth Pillar Construction for sale or purchase of goods or services. E-voting commences April 3, 2025 (9:00 AM) and ends May 2, 2025 (5:00 PM), with results to be announced on or before May 5, 2025. JCCL is part of Praveg's promoter group and holds 56,469 equity shares of the company.
This is primarily a routine governance filing. The director reappointments are procedural continuations and unlikely to move the stock. The related party transactions are material in size (INR 45 crore + INR 20 crore) and worth tracking for any governance concerns, though both are described as arm's length and in the ordinary course of business. No immediate price action expected; shareholders should assess the RPT terms before voting.