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 ....
PRAVEG · price
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Praveg Limited disclosed the results of a postal ballot (notice dated October 31, 2025; e-voting from November 3 to December 2, 2025) for a Special Resolution to approve advancing loans, giving guarantees, or providing security to Abhik Advertising Private Limited (AAPL) and other entities where directors are deemed interested, under Section 185 of the Companies Act, 2013. Out of 2,61,40,695 total shares, 1,39,93,752 votes were polled (53.53%), of which 1,31,38,957 (93.89%) were in favour and 8,54,795 (6.11%) were against. The resolution was declared passed. Notably, promoter group voted 100% in favour (1,18,30,080 shares), while public institutions voted 61.80% against (8,49,131 votes against vs 5,24,829 in favour), and public non-institutions voted 99.28% in favour.
The resolution passed primarily on the strength of promoter voting, but significant institutional dissent (61.8% of public institution votes against) flags governance concern around this related-party transaction. Shareholders should watch for follow-up disclosures on the actual loan amount, terms, and use of funds extended to AAPL, as institutional opposition on related-party deals often signals perceived risk to minority shareholders.