Postal ballot: new Articles, borrowing up to Rs 70 Crore

Board & Shareholder Meetings View source PDF

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AI summary

Veejay Lakshmi Engineering Works has issued a postal ballot notice dated June 20, 2026 seeking shareholder approval through e-voting for three special resolutions. These are: adoption of a new set of Articles of Association aligned with the Companies Act 2013, approval to create mortgages or charges on company assets under Section 180(1)(a), and authorisation for the Board to borrow up to Rs 70 Crores under Section 180(1)(c). The cut-off date is June 26, 2026 and remote e-voting runs from July 1, 2026 at 9:00 AM to July 30, 2026 at 5:00 PM. Results will be announced within two working days after e-voting closes.

Likely market impact

Routine governance update; approval lifts the Board borrowing cap to Rs 70 Crore and allows pledging assets for credit facilities, expanding future funding capacity.