Board Meeting20 Jun 2026, 07:10 pm
Veejay Lakshmi Board Approves New AoA, Asset Disposal & Borrowing Limit
AI Summary
Veejay Lakshmi Engineering Works Ltd's Board of Directors met on June 20, 2026, approving several key proposals subject to shareholder approval. These include adopting a new set of Articles of Association aligned with the Companies Act, 2013, and authorizing the disposal of the company's undertaking(s). Additionally, the board approved increasing the borrowing limit to ₹70 Crores, exceeding paid-up capital and reserves, as per Section 180(1)(c) of the Companies Act, 2013. A postal ballot will be conducted to obtain shareholder consent for these resolutions, with a company secretary appointed as scrutineer.
Key Highlights
- New Articles of Association approved, pending shareholder nod.
- Proposal to sell, lease, or mortgage company undertaking approved.
- Borrowing limit increased to ₹70 Crores, subject to shareholder approval.
- Postal ballot to be conducted for member approval on key resolutions.
- Board meeting held on June 20, 2026, concluded at 6:15 PM.
Price Impact
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