Re-appointment of Mr. Harbir Singh Banga, who retires by rotation.
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Precision Electronics held its 46th AGM on September 22, 2025, via video conferencing, where shareholders approved all eight resolutions. Mr. Harbir Singh Banga (whose father holds 24.88% in the company) was re-appointed as Director upon retirement by rotation. Ms. Preeti Grover was re-appointed as Independent Director for a second five-year term, and Mr. Dinesh Kumar Batra's appointment as Independent Director was confirmed. M/s. Yogesh Saluja & Associates was appointed as the new Secretarial Auditor for five years (FY2025-26 to FY2029-30), replacing the previous auditor. Shareholders also approved amended related-party transaction limits with Victura Technologies, an increase in borrowing limits under Section 180(1)(c), and broader authority to sell, lease, or mortgage company assets under Section 180(1)(a). Statutory and Secretarial Auditor reports contained no adverse qualifications, though the Secretarial Auditor's report had a few self-explanatory observations.
Routine governance items with no major red flags — re-appointments maintain board continuity, while higher borrowing and asset-disposal limits give management more financial flexibility. The change in secretarial auditor is procedural and not indicative of any governance concern.