AS PER LETTER ATTACHED.
Awaiting price reaction for this filing.
The Board of Directors of Esha Media Research Ltd met on September 5, 2025 and approved several items primarily related to the upcoming 42nd Annual General Meeting scheduled for September 29, 2025. Key approvals include the Directors' Report and Secretarial Audit Report for FY ending March 31, 2025, appointment of M/s MSDS & Associates as scrutinizer and as Secretarial Auditor for a 5-year term (FY 2025-26 to FY 2029-30), and KFin Technologies as the e-voting agency. The Board also recommended the reappointment of Whole Time Director Ms. Shilpa Vinod Pawar (DIN: 01196385) and approved both her future remuneration and a waiver of remuneration paid to her in FY 2024-25, both subject to shareholder approval. Most notably, the Board recommended a borrowing limit of up to Rs. 50 crore, subject to member approval under Section 180(1)(c) of the Companies Act, 2013.
Most items are routine AGM-preparation housekeeping, but the proposed Rs. 50 crore borrowing limit is the most material item and could significantly expand the company's debt capacity if approved by shareholders. The waiver of director remuneration for FY25 is a minor positive signal on cost discipline, though the simultaneous approval of future remuneration limits dilution of that signal.