The Voting Results of the 30th Annual General Meeting of the Company held on August 12, 2025 are enclosed along with Scrutinizer''s Report on e-voting.
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Praveg Limited held its 30th AGM on August 12, 2025, where 9 resolutions were put to vote via e-voting. Of these, 6 resolutions passed and 3 were rejected. Key approvals included the adoption of FY25 audited financial statements (99.99% in favour), declaration of a final dividend for FY25 (99.99% in favour), reappointment of Mr. Kalpeshkumar Patel as a Director (99.74% in favour), and appointment of KPSJ & Associates LLP as statutory auditors and ALAP & Co. LLP as secretarial auditors (both passed with ~96% support, though public institutions voted 36% against). Crucially, both material related party transactions with Abhik Advertising Pvt Ltd (AAPL) — a proposed RPT and a Section 185 loan/guarantee — were rejected by shareholders, with only 40% support as public institutions overwhelmingly opposed them (89.86% against). The Section 185 loan resolution for Praveg Safaris Tanzania Ltd also failed (66.70% in favour, with public institutions split nearly 50:50), though the related RPT for PSTL passed with 99.93% support.
The rejection of both AAPL-related resolutions and the PSTL Section 185 loan is a notable negative signal — shareholders have blocked the company's proposed related-party dealings and fund support to group entities, which could delay strategic plans and raise governance concerns. Approval of the dividend is a positive for shareholders. Overall, mixed AGM outcome with governance-related red flags around related-party transactions.