Veejay Lakshmi Engineering Works Approves Borrowing Limit and Asset Disposal Plans

Veejay Lakshmi Engineering Works Approves Borrowing Limit and Asset Disposal Plans​

Veejay Lakshmi Engineering Works Ltd., on June 20, 2026, held a Board meeting during which it approved several significant corporate proposals related to the company's operational structure, financial flexibility, and asset management. The Board members reviewed and sanctioned measures requiring future shareholder approval via special resolution.

The board authorized the company to borrow up to an amount not exceeding Rs. 70 Crores. This authorization is granted in accordance with Section 180(1)(c) of the Companies Act, 2013, specifically allowing borrowing beyond the paid-up share capital and free reserves.

In governance updates, the company approved a proposal for adopting a new set of Articles of Association (AoA). This proposed AoA is intended to replace and substitute the existing articles and must receive approval from the shareholders via a special resolution.

Furthermore, the Board sanctioned a proposal concerning major corporate assets. The company was approved to sell, lease, mortgage, or otherwise dispose of and/or create charge on the whole or substantially the whole of its undertaking(s). This disposition is subject to obtaining shareholder consent by a special resolution.

To facilitate these proposals, the board approved the conducting of a Postal Ballot to seek member approval for all the aforementioned subjects. The Board also appointed Mr. M. D. Selvaraj, Managing Partner of MDS & Associates LLP, Company Secretaries located in Coimbatore, as the Scrutinizer responsible for ensuring the fair and transparent process of the Postal Ballot.

Stock Price Movement​

The shares finished the session at ₹35.00, ticking up 2.01% on the day. The stock experienced movement during trading, ranging between a low of ₹34.30 and an intraday high of ₹35.00.