In a meeting held on March 29, 2025, Praveg Limited's Board of Directors made several significant decisions in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The key outcomes of the meeting are summarized as follows:

1. Reappointment of Ajit Kumar Panda as Independent Director

The Board approved the reappointment of Mr. Ajit Kumar Panda as an Independent Director for a second term of five years, effective from August 22, 2025. The recommendation for reappointment was made by the Nomination and Remuneration Committee. Mr. Panda’s current term is set to expire on August 21, 2025. This reappointment is contingent on the approval of the shareholders through a special resolution. The company intends to seek approval via postal ballot. Mr. Panda has also submitted a declaration confirming that he is not debarred from holding the office of Director by any SEBI order or any other competent authority.

Brief Profile: Mr. Panda is a retired government official with extensive experience, having served as the Chief Commissioner of Income Tax and Commissioner of Income Tax over the course of his distinguished career. He holds an M.Sc. in Physics and a law degree, with specialization in Finance, Direct Tax Laws, and Administration.

2. Reappointment of Rajendrakumar Chaturbhai Patel as Independent Director

In another key decision, the Board also approved the reappointment of Mr. Rajendrakumar Chaturbhai Patel as an Independent Director, for another term of five years, beginning on August 22, 2025. Mr. Patel’s current tenure will conclude on August 21, 2025. Like Mr. Panda, Mr. Patel’s reappointment is subject to shareholder approval via special resolution through a postal ballot.

Brief Profile: Mr. Patel is a highly experienced Mechanical Engineer with over 45 years of experience in industries such as marketing, finance, and administration. He has served in senior roles in well-known companies including Voltas Limited, Reliance Industries Limited, and Blue Star Limited. He has also been a visiting faculty member at NIT Ahmedabad and Gujarat University.

3. Appointment of M/s. ALAP & Co. LLP as Secretarial Auditor

The Board approved the appointment of M/s. ALAP & Co. LLP as the Secretarial Auditor for the financial year 2024-25. The firm, led by Mr. Anand Lavingia and Ms. Ankita Patel, is a highly regarded corporate advisory and secretarial services firm. M/s. ALAP & Co. LLP has a strong reputation for providing comprehensive solutions to businesses on corporate laws, corporate governance, and regulatory compliance. Their appointment is part of Praveg Limited's ongoing commitment to ensure the highest standards of corporate governance and regulatory compliance.

Details of the Appointment:

• Firm: M/s. ALAP & Co. LLP

• Reason: Appointment as Secretarial Auditor for FY 2024-25

• Term: Effective from March 29, 2025

• Profile: The firm specializes in corporate laws, capital markets, and legal matters, providing top-notch advisory services to businesses across various sectors.

• Relationship with Directors: Not applicable.

The Board also decided that a postal ballot will be used to seek shareholders' approval for the reappointments of both Independent Directors. The calendar of events for this process, including the detailed Notice of Postal Ballot, will be filed with the stock exchanges and dispatched to the shareholders in due course.

Conclusion

The decisions made during the meeting reflect Praveg Limited's commitment to maintaining a high standard of governance and transparency. The company’s careful selection of experienced and qualified individuals for key roles demonstrates its dedication to fostering long-term, sustainable growth while ensuring compliance with regulatory standards.

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