Precision Wires India Ltd. Members Approve Key Resolutions
Precision Wires India Limited announced that resolutions 1 through 4, detailed in a postal ballot notice dated February 14, 2026, were passed by shareholders. The approval was deemed received on March 21, 2026, the last date for e-voting.The resolutions included the re-appointment of Mrs. Asha Morley as a Non-Executive Independent Director, the re-appointment of Shri Arjun Milan Mehta to a position of Senior Vice President for three years, a revision in the company's borrowing powers, and the creation of a mortgage/charge on the company's assets.
According to the postal ballot results, a total of 62,833 shareholders were on record as of the record date. The voting results, scrutinized by M/s Ragini Chokshi & Co., revealed substantial support for each resolution.
For the resolution concerning Mrs. Morley’s re-appointment, 96,879,120 votes were cast in favor out of 96,879,120 votes polled, representing 93.61% of outstanding shares. Regarding Shri Mehta's re-appointment, 594,271 votes were cast in favor out of 594,271 votes polled. Resolution 3, concerning borrowing powers, saw 124,733,228 votes in favor out of 125,222,600 votes polled, representing 99.61% approval. Finally, for the creation of a mortgage/charge, 124,732,751 votes were cast in favor out of 12,522,2600 votes polled, reflecting 99.61% support.
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.