ENCLOSED HEREWITH DISCLOSURE UNDER REG 30 OF SEBI (LODR) 2015
Awaiting price reaction for this filing.
Deccan Bearings Ltd (BSE: 505703) held a shareholder meeting on May 27, 2025 via video conferencing where members approved a major board restructuring. Mr. Priyankbhai Vasantbhai Ghelani was appointed as Managing Director with remuneration, alongside the appointment of four new Independent Directors: Mrs. Aakansha Vaid (Company Secretary, 10+ years experience), Mr. Nishith Trivedi (finance expertise), Mr. Nitin Arvind Oza (Chartered Accountant, 25+ years), and Mr. Ajay Jagdishbhai Gohel (marketing and sales). The company also increased its authorized share capital to Rs. 20 crore, divided into 2 crore equity shares of Rs. 10 each, and approved higher borrowing limits and expanded powers to give loans, investments, and guarantees beyond statutory limits.
This represents a near-complete board overhaul with fresh leadership and a significant expansion of capital and borrowing headroom, suggesting the company may be preparing for fundraising or business expansion. Shareholders should watch for any follow-up fundraising announcement given the enlarged authorized capital.