Praveg shareholders greenlight loans and guarantees to related entities

Praveg Limited announced the results of its postal ballot, revealing shareholder approval for a special resolution to advance loans, provide guarantees, or offer security to Abhik Advertising Private Limited (AAPL) or other entities where Praveg's directors are interested, as per Section 185 of the Companies Act, 2013. The postal ballot, initiated on October 31, 2025, concluded with an overwhelming majority in favor.

The remote e-voting process, conducted between November 3, 2025, and December 2, 2025, saw 93.8916% of valid votes cast in favor of the resolution and 6.1084% against it. Of the total 26,140,695 shares, 13,993,752 votes were polled, representing 53.5324% of outstanding shares. Promoter and promoter group votes were 100% in favor (11,830,080 votes), while public institutions voted 38.1983% in favor (524,829 votes) and public non-institutions voted 99.2828% in favor (784,048 votes).

The scrutinizer, ALAP & CO. LLP, confirmed that all conditions under Section 114(2) of the Companies Act, 2013, were met, ensuring the resolution's approval. The board of directors will now formally declare the results.