Veejay Lakshmi Engineering Works has completed the dispatch of its postal ballot notice on June 30, 2026, seeking shareholder approval to borrow funds up to ₹70 crore and adopt a new set of Articles of Association. The notice was sent electronically to members whose email addresses were registered with the company or depository participants as on the cut-off date of June 26, 2026. The remote e-voting period is scheduled from July 1, 2026, to July 30, 2026.

The Board of Directors, at its meeting on June 20, 2026, approved the proposal to replace the existing Articles of Association. The current regulations, based on the Companies Act, 1956, require updates to comply with the provisions of the Companies Act, 2013. Adoption of the new articles requires approval via a special resolution.

Key Resolutions

Shareholders will vote on three special resolutions. The first concerns the adoption of the new Articles of Association. The second resolution seeks approval to create mortgages, charges, or hypothecation on the company's assets, both present and future, to secure credit facilities from banks and financial institutions. The third resolution authorizes the Board to borrow monies exceeding the aggregate of the paid-up share capital, free reserves, and securities premium, capped at ₹70 crore.

E-Voting Process

The company has engaged MUFG Intime India Private Limited to facilitate the remote e-voting process. The voting window opens at 9.00 AM IST on July 1, 2026, and closes at 5.00 PM IST on July 30, 2026. Only members whose names appear in the Register of Members or Beneficial Owners as on the cut-off date of June 26, 2026, are eligible to vote.

In compliance with Ministry of Corporate Affairs circulars, the postal ballot notice is being sent electronically only. Hard copies of the notice and postal ballot forms will not be dispatched. Shareholders who have not registered their email addresses must do so with the Registrar & Share Transfer Agent to receive the e-voting credentials. The results of the postal ballot will be announced within two working days from the conclusion of the e-voting period.

Veejay Lakshmi Engineering Works Limited has approved a proposal to borrow up to ₹70 crore, exceeding its paid-up share capital and free reserves. The decision, taken at its Board meeting on June 20, 2026, in Coimbatore, requires shareholder approval through a special resolution. This move is aimed at enhancing the company's financial flexibility for future operational needs.

The Board also approved the adoption of a new set of Articles of Association in line with the Companies Act, 2013, replacing the existing ones. Additionally, the directors sanctioned the sale, lease, or mortgage of the whole or substantially the whole of the company's undertakings under Section 180(1)(a) of the Act. These resolutions are subject to ratification by shareholders via a postal ballot.

Postal Ballot Details

To facilitate the approval process, the Board appointed Mr. M. D. Selvaraj, Managing Partner of MDS & Associates LLP, Company Secretaries, as the Scrutinizer. The Postal Ballot Notice will be submitted to the stock exchange in due course to ensure a transparent voting process.

Key Approvals

The meeting, which commenced at 3.30 PM and concluded at 6.15 PM, was conducted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.