PSP Projects Limited Completes Postal Ballot with 99.13% Approval for New Auditor Appointment

PSP Projects Limited has successfully completed its postal ballot voting process, with shareholders providing overwhelming support for the appointment of new Joint Statutory Auditors. The company announced the results on January 19, 2026, following the conclusion of remote e-voting on January 16, 2026.

Voting Results and Shareholder Participation

The postal ballot achieved significant shareholder participation, with detailed voting results across different categories:

Category	Shares Held	Votes Polled	Polling %	Votes in Favor	Votes Against	Approval %
Promoter and Promoter Group	27,279,945	27,279,945	100.00%	27,279,945	0	100.00%
Public-Institutions	1,862,776	1,417,898	76.12%	1,169,083	248,815	82.45%
Public-Non Institutions	10,499,070	38,383	0.37%	38,298	85	99.78%
Total	39,641,791	28,736,226	72.49%	28,487,326	248,900	99.13%

The resolution received approval from 99.13% of the votes polled, with only 0.87% voting against the proposal. The total votes polled represented 72.49% of the company's paid-up equity capital.

Auditor Appointment Details

The approved resolution appointed G. K. Choksi & Co., Chartered Accountants, Ahmedabad (firm registration no. 101895W) as Joint Statutory Auditors. This appointment fills the casual vacancy created by the resignation of Prakash B. Sheth & Co. (firm registration no. 108069W). The new auditors will serve until the company's Annual General Meeting scheduled for 2026.

Voting Process and Timeline

The postal ballot process was conducted entirely through electronic voting, following MCA circulars that eliminated physical ballot forms. Key timeline details include:

Process Stage	Date
Board Resolution for Scrutinizer Appointment	October 17, 2025
Record Date	December 12, 2025
Notice Dispatch Completion	December 15, 2025
Newspaper Advertisement	December 16, 2025
E-voting Period	December 18, 2025 to January 16, 2026
Results Declaration	January 19, 2026

The company had 36,558 total shareholders on the record date of December 12, 2025.

Scrutinizer and Compliance

Chirag Shah of Chirag Shah & Associates (Membership No. 5545) served as the appointed scrutinizer for the postal ballot process. The scrutinizer confirmed that all regulatory requirements under Sections 108 and 110 of the Companies Act, 2013, and related rules were properly followed. The voting results and scrutinizer's report have been uploaded on the company's website and NSDL's e-voting platform for transparency.

The successful completion of this postal ballot demonstrates strong shareholder confidence in the company's governance decisions, with the new auditor appointment ensuring continuity in the company's statutory audit requirements.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.66%	-6.04%	-10.84%	-6.17%	+19.09%	+90.50%

PSP Projects Limited has successfully completed its postal ballot voting process, with shareholders overwhelmingly approving the appointment of new joint statutory auditors. The voting concluded on January 16, 2026, with the company announcing the results on January 19, 2026.

Postal Ballot Results Overview

The postal ballot addressed a single ordinary resolution regarding the appointment of M/S. G. K. Choksi & Co., Chartered Accountants, Ahmedabad as Joint Statutory Auditors. This appointment fills the casual vacancy created by the resignation of M/S. Prakash B. Sheth & Co.

Voting Parameter:	Details
Total Shareholders on Record Date:	36,558
Record Date:	December 12, 2025
Voting Period:	December 18, 2025 to January 16, 2026
Total Shares Voted:	28,736,226
Participation Rate:	72.49% of paid-up equity capital

Voting Results by Category

The resolution received strong support across all shareholder categories, with detailed voting patterns showing broad-based approval.

Shareholder Category:	Shares Held	Votes Polled	Participation (%)	Votes in Favor	Approval Rate (%)
Promoter and Promoter Group:	27,279,945	27,279,945	100.00	27,279,945	100.00
Public - Institutions:	1,862,776	1,417,898	76.12	1,169,083	82.45
Public - Non Institutions:	10,499,070	38,383	0.37	38,298	99.78

Resolution Details and Approval

The ordinary resolution sought approval for appointing M/S. G. K. Choksi & Co., Chartered Accountants (firm registration no. 101895W) as Joint Statutory Auditors until the ensuing Annual General Meeting to be held in 2026. The appointment also includes fixing their remuneration.

Out of 28,736,226 total votes cast, 28,487,326 shares voted in favor (99.13%), while only 248,900 shares voted against (0.87%). The resolution was declared passed as an ordinary resolution with the requisite majority.

Scrutinizer and Process Details

Chirag Shah of Chirag Shah & Associates, Company Secretaries, served as the appointed scrutinizer for the postal ballot process. The scrutinizer was appointed by the Board of Directors on October 17, 2025, and issued the final report on January 19, 2026.

Process Details:	Information
Scrutinizer:	Chirag Shah (Membership No. 5545)
Firm:	Chirag Shah & Associates
Board Appointment Date:	October 17, 2025
Notice Dispatch Date:	December 15, 2025
E-voting Platform:	NSDL

The voting was conducted entirely through remote e-voting in compliance with MCA circulars, with no physical ballot forms distributed. The postal ballot notice was sent electronically to members and published in newspapers on December 16, 2025. The company has uploaded the voting results and scrutinizer's report on its website and NSDL's e-voting platform for member access.