Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Postal Ballot Notice dated February 12, 2026 in terms ....
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Praveg Limited has issued a Postal Ballot Notice dated February 12, 2026 seeking shareholder approval through e-voting for three special resolutions. The first resolution seeks approval under Section 185 of the Companies Act, 2013 to advance loans, provide guarantees, or securities up to INR 20 crores to its foreign subsidiary Praveg Safaris Tanzania Limited (PSTL) for capital expenditure and working capital needs. The second resolution is for changing the designation of Mr. Vishnukumar Vitthaldas Patel from Chairman and Non-Executive Director to Chairman and Managing Director for a five-year term effective February 12, 2026, without any remuneration. The third resolution is to change Ms. Bijal Kiran Parikh's designation from Executive Director to Non-Executive Director. E-voting will run from February 21, 2026 to March 22, 2026, with the cut-off date set as February 13, 2026 and results expected by March 24, 2026.
The Section 185 approval enables Praveg to potentially fund its Tanzania safari subsidiary up to INR 20 crores, indicating expansion of foreign operations. The leadership reshuffle centralizes executive power under the promoter (Mr. Patel) without additional remuneration costs, while Ms. Parikh's move to a non-executive role reduces executive overhead. Shareholders should review and cast votes before the March 22, 2026 deadline.