Outcome of Board Meeting of Elitecon International Limited dated Decemer 26, 2025
ELITECON · price
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The Board of Directors of Elitecon International Limited met on December 26, 2025, and approved several key items. First, it increased the company's borrowing powers under Section 180(1)(C) of the Companies Act, 2013 to up to Rs. 500 Crores, subject to shareholder approval. Second, it approved making investments, giving loans, and providing guarantees or security in excess of the limits specified under Section 186, again subject to shareholder approval via postal ballot. Third, it approved issuing a postal ballot notice to shareholders. The board also appointed Mr. Aakash Goel of G Aakash & Associates as scrutinizer for the ensuing Extra-Ordinary General Meeting (EGM) and fixed December 22, 2025, as the cut-off date for e-voting eligibility. Remote e-voting is scheduled from December 29, 2025 to January 27, 2026.
Shareholders will soon get a postal ballot to vote on raising the company's borrowing ceiling to Rs. 500 Crores and on expanding its power to lend, invest, and give guarantees beyond current statutory limits. Higher borrowing and investment limits could signal plans for expansion or acquisitions, but also raise the debt and risk profile, so shareholders should review carefully before voting.