Intimation under Regulation 30 of SEBI LODR 2015- Notice of Postal Ballot.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Autoriders International has sent out a Postal Ballot Notice dated 10th November 2025 to shareholders seeking approval for three Special Resolutions through remote e-voting (14 Nov 2025 to 13 Dec 2025). The first two resolutions seek to increase the company's borrowing limit and the limit for creating charge on its assets from the existing Rs. 40 Crore (approved via Postal Ballot on 8 April 2025) to Rs. 100 Crore each, citing growth plans, operational expansion, and higher working capital needs in its car rental business. The third resolution proposes the re-appointment of Mr. Chintan Amrish Patel (DIN: 00482043) as Managing Director & CEO for a further 5-year term from 12 November 2025 to 11 November 2030, and he will continue as Chairman. The cut-off date for e-voting eligibility is 7 November 2025, and results are to be declared on or before 16 December 2025.
Shareholders are being asked to approve a 2.5x jump in the company's borrowing capacity (from Rs. 40 Cr to Rs. 100 Cr), signalling likely debt-funded expansion but also higher financial leverage and interest burden going forward. The MD re-appointment ensures leadership continuity with the same person who has steered the company since 2020, which is generally a neutral-to-positive signal for governance stability.