Enclosed is the notice of postal ballot
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Precision Electronics Limited has issued a postal ballot notice seeking shareholder approval through remote e-voting (via NSDL) for a material related party transaction. The resolution seeks approval to borrow up to Rs. 10 crore per annum on an unsecured basis from Victora Stock Invest Private Limited (VSIPL), with interest payable at 10% per annum on a quarterly basis. The tenure is 3 years starting from FY 2025-26, with repayment of principal in one or more tranches at the company's option. The transaction represents 21.23% of the company's consolidated turnover for FY 2024-25. E-voting runs from June 15, 2025 to July 14, 2025, with results to be announced by July 16, 2025.
Shareholders are being asked to approve a significant borrowing from a related party (VSIPL is connected through the director's family) to fund working capital and capital expenditure. The 10% interest rate and related-party nature may draw scrutiny, and all related parties will abstain from voting on this resolution.