The Details of the Voting Results of the Postal ballot, conducted through remote e-voting process, in respect of resolutions contained in the Postal ballot dated October 31, 2025, is enclosed ....
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Praveg Limited has disclosed the voting results of a postal ballot (conducted via remote e-voting between November 3 and December 2, 2025) on a single Special Resolution. The resolution sought shareholder approval under Section 185 of the Companies Act, 2013 to advance loans and/or give guarantees or security to Abhik Advertising Private Limited (AAPL), an entity in which the company's directors are deemed interested. Out of 2.61 crore total shares, 1.40 crore votes were polled (53.53% participation). The resolution was passed with 93.89% votes in favour (1.31 crore shares) and only 6.11% against (8.55 lakh shares). Promoters voted 100% in favour, while public institutions largely opposed it (61.80% against), and retail public shareholders backed it with 99.28% support.
Shareholders have cleared the way for Praveg to extend loans or financial support to a director-related entity (Abhik Advertising Pvt Ltd). This is a related-party transaction that may raise governance concerns for some investors, though promoter and retail support ensured easy passage. Short-term stock impact is likely limited, but the use of company funds for related-party lending warrants monitoring.