Prashant India Ltd , a Gujarat-based company, has issued a postal ballot notice seeking shareholder approval for three significant changes to its operations. The company is proposing to shift its registered office, lease out a property, and alter its Memorandum of Association to include property leasing as a main business objective.

Registered Office Relocation

The first resolution proposes to move the company's registered office from Palsana to Surat City within Gujarat. This shift is necessitated by the sale of the current premises, which the company must now vacate. The new proposed location is at the 4th Floor, Office-407, Union Trade Centre, Udhana Darwaja, Surat. This move aims to improve administrative convenience, infrastructure, and accessibility while remaining within the jurisdiction of the same Registrar of Companies in Ahmedabad.

Property Leasing Initiative

In the second resolution, Prashant India Ltd is seeking approval to lease or rent out its immovable property situated in Dhank, Rajkot. This strategic decision follows the company's earlier divestment of its Textile Division and Wind Power Division assets. With no major income source currently, the company aims to generate a steady stream of revenue with minimal operating expenses through this leasing arrangement.

Alteration of Memorandum of Association

The third resolution proposes to alter the company's Memorandum of Association by inserting a new main object clause. This amendment would formally allow the company to lease, rent out, or otherwise provide its land, buildings, industrial premises, and other properties to various entities. This change aligns with the company's strategy to derive value from its existing resources.

E-Voting Details

Shareholders can cast their votes through remote e-voting, which will commence on September 15, 2025, at 9:00 a.m. (IST) and conclude on October 14, 2025, at 5:00 p.m. (IST). The results of the postal ballot will be declared on or before October 16, 2025.

The Board of Directors has appointed Mr. Jitendra Ramanlal Bhagat, a Practicing Company Secretary, as the scrutinizer for the postal ballot process. The National Securities Depository Limited (NSDL) will provide the e-voting facility.

These proposed changes reflect Prashant India Ltd's efforts to adapt to its current financial situation and optimize its asset utilization. Shareholders are encouraged to participate in the voting process to determine the future direction of the company.

Prashant India Ltd , a company listed on the Bombay Stock Exchange (BSE: 519014), has announced significant corporate changes following a board meeting held on September 8, 2025. The company's Board of Directors has approved several key resolutions that will reshape its operational landscape, subject to shareholder approval through a postal ballot process.

Key Resolutions Approved

Relocation of Registered Office

The board has given the green light to relocate the company's registered office from Palsana to Surat City. This move, which involves shifting outside the local limits of the existing location, aims to position the company more strategically within Gujarat's bustling business hub.

Property Leasing in Rajkot

In a move that could expand the company's operational footprint, the board has approved the leasing of a property situated in Dhank, Rajkot.

Alteration of Memorandum of Association

The board has also approved alterations to the object clause in the company's Memorandum of Association. While specific details of the changes were not disclosed, such amendments typically indicate a shift or expansion in the company's business objectives.

Postal Ballot Process Initiated

To seek shareholder approval for these significant changes, Prashant India Ltd has initiated a postal ballot process. The board has authorized the conduct of this process and has appointed Mr. Jitendra Ramanlal Bhagat, a Practicing Company Secretary (M.No. F1311, CP 3032) and Proprietor of M/s Bhagat Associates, as the scrutinizer for the e-voting process.

Key Dates for Shareholders

The company has released a calendar of events for the postal ballot process:

In line with various General Circulars issued by the Ministry of Corporate Affairs, the voting process will be conducted entirely through remote e-voting, with no physical ballot forms to be dispatched.

Board Meeting Details

The board meeting where these decisions were made commenced at 2:00 PM and concluded at 5:30 PM on September 8, 2025. The company has duly informed the BSE of these developments as part of its regulatory obligations.

Shareholders and investors of Prashant India Ltd should keep an eye out for the detailed postal ballot notice, which the company has committed to submitting in due course.