Publication of Notice of Petition to Shareholders in Newspaper.
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Awaiting price reaction for this filing.
East West Freight Carriers Ltd has informed the stock exchange about publishing a legal notice in newspapers regarding a share consolidation petition. The company filed a petition under Section 61(1)(b) of the Companies Act, 2013 with the National Company Law Tribunal (NCLT), Mumbai Bench on June 27, 2025, seeking to consolidate its shares by increasing the face value from Rs. 2 per share to Rs. 10 per share. The petition was admitted by the tribunal on February 24, 2026, and the next hearing is scheduled for April 8, 2026. As required by NCLT rules, the company published the notice in 'The Press Journal' (English) on February 26, 2026, and in 'Navshakti' (Marathi) on February 27, 2026.
If approved, this is effectively a reverse stock split — every 5 shares of Rs. 2 face value will merge into 1 share of Rs. 10 face value. The total number of shares will reduce by 80%, but the total value held by shareholders remains unchanged. Shareholders should monitor the April 8 hearing for outcome.