Prashant India News

Prashant India Ltd Completes E-Voting for Postal Ballot on Office Relocation and Property Lease

Prashant India Ltd concluded its remote e-voting process for a postal ballot seeking shareholder approval on three special resolutions. The resolutions include shifting the company's registered office from Palsana to Surat City within the same state, leasing property at Dhank, Rajkot, and altering the Memorandum of Association's object clause. The e-voting period ran from September 15 to October 14, 2025, with NSDL providing the e-voting platform. Mr. Jitendra Ramanlal Bhagat was appointed as scrutinizer to conduct the process. The company will announce voting results along with the scrutinizer's report within 2 working days and share them with stock exchanges and on its website.

Prashant India Ltd Seeks Shareholder Approval for Registered Office Shift and Property Leasing Through Postal Ballot

Prashant India Ltd has issued a postal ballot notice seeking shareholder consent through remote e-voting for three special resolutions. The company proposes to shift its registered office from Palsana to Surat City within Gujarat state, as the current premises have been sold and must be vacated. The second resolution seeks approval to lease/rent the company's immovable property situated at Dhank, Rajkot, to generate steady income with minimum operating expenses, as the company currently lacks sufficient funds after disposing of its Textile Division and Wind Power Division assets. The third resolution involves altering the Memorandum of Association to include leasing and renting of company properties as a main business object. The e-voting period runs from September 15, 2025, to October 14, 2025, with results to be declared by October 16, 2025. Mr. Jitendra Ramanlal Bhagat has been appointed as scrutinizer, and NSDL will provide the remote e-voting facility.

Prashant India Ltd Board Approves Registered Office Relocation and Property Leasing Subject to Shareholder Approval

Prashant India Ltd's Board of Directors approved several key resolutions during their September 8, 2025 meeting. The board approved relocating the company's registered office from Palsana to Surat City and leasing property in Dhank, Rajkot. They also approved alterations to the Memorandum of Association's object clause. All these decisions require shareholder approval through postal ballot. The board authorized the postal ballot process and appointed Mr. Jitendra Ramanlal Bhagat as scrutinizer for the e-voting process. The meeting lasted from 2:00 p.m. to 5:30 p.m.

NCLT Ahmedabad Dismisses Waiver Application and Petition Against Prashant India Limited

The National Company Law Tribunal, Ahmedabad Bench, dismissed a waiver application filed by Procon Financial & Investment Pvt. Ltd. under Section 244(1) of the Companies Act, 2013, along with a connected main petition filed under Sections 241 and 242 of the Act. The order was pronounced on August 25, 2025, in Case No. CP/47(AHM) 2025 and Case No. CP/49(AHM) 2025. Prashant India Limited announced this outcome to BSE Limited with scrip code 519014.