Annual Report for Financial Year 2024 - 2025
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Asia Capital Limited has submitted its 41st Annual Report for FY 2024-2025 along with the notice convening its 41st AGM on August 25, 2025 in Mumbai. The AGM agenda includes adoption of financial statements, re-appointment of Managing Director Santosh Suresh Choudhary for another 5-year term, and re-appointment of statutory auditor Shankarlal Jain & Associates LLP for 5 years until the 46th AGM. A key item is seeking shareholder approval to raise the borrowing limit to INR 100 crore, which would exceed the company's paid-up capital and free reserves, requiring a special resolution under Section 180(1)(c) of the Companies Act. Additional items include re-appointment of Independent Director Dipti Singh, appointment of a new secretarial auditor, and regularization of two additional directors.
The proposed INR 100 crore borrowing limit signals potential significant debt expansion well beyond current equity base, which shareholders should evaluate for impact on future leverage and dilution risk. Routine re-appointments of MD, statutory auditor, and independent director suggest board continuity without major governance changes.