Praveg Limited has officially disclosed the voting results for its postal ballot conducted under Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company submitted the comprehensive voting results to BSE Limited, confirming shareholders' overwhelming approval for all three proposed special resolutions.

Postal Ballot Process Overview

The postal ballot was conducted entirely through remote e-voting, with the voting period running from February 21, 2026, to March 22, 2026. The company's total outstanding shares stood at 26140695, with 13480719 votes polled, representing a participation rate of 51.57%.

Resolution 1: Loan and Guarantee Authorization

Shareholders approved the special resolution authorizing the company to advance loans, provide guarantees, and securities to Praveg Safaris Tanzania Limited under Section 185 of the Companies Act, 2013. This resolution received exceptional support with 99.94% votes in favor.

Resolution 2: Leadership Appointment

The change in designation cum appointment of Mr. Vishnukumar Vitthaldas Patel (DIN: 02011649) as Chairman and Managing Director was approved with 99.94% support. This resolution involved both a change in designation and appointment to the top leadership position.

Resolution 3: Director Redesignation

Shareholders approved the change in designation of Ms. Bijal Kiran Parikh (DIN: 07027983) from Executive Director to Non-Executive Director with 99.84% support. This resolution received slightly more opposition compared to the other two resolutions but still maintained overwhelming approval.

Regulatory Compliance and Scrutinizer Validation

The postal ballot process was scrutinized by M/s. ALAP & CO. LLP, Practicing Company Secretaries, who confirmed that all resolutions met the requirements under Section 114(2) of the Companies Act, 2013. The scrutinizer's report validated the fairness and transparency of the remote e-voting process conducted through NSDL's platform. Company Secretary Mukesh Chaudhary signed the disclosure letter submitted to BSE Limited, ensuring compliance with regulatory requirements. No invalid votes were recorded across any of the three resolutions, indicating the effectiveness of the electronic voting system.

Praveg Limited has announced the resignation of Mr. Keyoor Madhusudan Bakshi from his position as Independent Director, effective from the close of business hours on February 28, 2026. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

Mr. Keyoor Madhusudan Bakshi (DIN: 00133588) tendered his resignation through a letter dated February 28, 2026, marking the end of his first five-year term as Independent Director. The resignation coincides with the natural expiration of his tenure as an Independent Director of the company.

Stated Reasons for Non-Reappointment

In his resignation letter, Mr. Bakshi explained that due to his advancing age and other commitments, he does not wish to seek re-appointment for a second term of five consecutive years. The company has confirmed that there are no material reasons for his resignation other than those mentioned in his resignation letter.

Other Directorships

Mr. Bakshi currently holds directorships in other listed entities, demonstrating his continued involvement in corporate governance:

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Para A(7B) of Part A of Schedule III of the SEBI LODR Regulations. The company has also referenced compliance with SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Mr. Bakshi confirmed in his resignation letter that there are no other material reasons requiring disclosure under the regulatory framework, and expressed appreciation for the support and cooperation extended by the Board of Directors, Management, and stakeholders during his association with the company.