Praveg Limited shareholders have approved a special resolution authorizing the company to extend loans, provide guarantees, or offer security to Abhik Advertising Private Limited (AAPL) and other entities where directors hold interests. The resolution was passed under Section 185 of the Companies Act, 2013, with overwhelming support.
Voting Outcome
The special resolution received strong backing from shareholders:
| Category | Approval Percentage |
| Overall | 93.89% |
| Promoter Group | 100% |
| Public Shareholders | 99.28% |
Financial Context
The approval comes in the backdrop of significant growth in Praveg Limited’s financials over the past year:
| Metric | Current Year (₹ crore) | Previous Year (₹ crore) | Change |
| Total Assets | 551.20 | 364.50 | +51.22% |
| Current Assets | 136.00 | 159.00 | -14.47% |
| Fixed Assets | 253.60 | 183.10 | +38.50% |
| Total Equity | 451.90 | 287.80 | +57.02% |
| Current Liabilities | 34.60 | 12.00 | +188.33% |
The decision provides Praveg Limited the framework to support related entities financially while reflecting the company’s robust growth in assets and equity despite changes in current assets and liabilities.
Summary: Praveg Limited shareholders approved loans, guarantees, and security to related entities with 93.89% overall support, amid a 51% rise in total assets and a 57% increase in equity over the past year.
Disclaimer:
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