Announcement under Regulation 30 (LODR) - Annual General Meeting updates
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Medico Intercontinental Ltd held its Annual General Meeting on September 30, 2025, where shareholders approved multiple resolutions. The audited financial statements (standalone and consolidated) for FY ending March 31, 2025 were adopted. Mrs. Tanvi Samirbhai Shah was reappointed as Director (retiring by rotation), and M/s. Agarwal & Mehta, Company Secretaries LLP was appointed as Secretarial Auditor for a 5-year term (FY2025-26 to FY2029-30). Shareholders approved a significant 5x increase in borrowing limits from Rs. 20 crores to Rs. 100 crores, along with permission to create charges on company assets. An increase in remuneration for Managing Director Mr. Samir Shah was also approved, along with expanded limits for loans, investments, guarantees under Sections 185 and 186, and approval for related party transactions.
The sharp increase in borrowing capacity (from Rs. 20 cr to Rs. 100 cr) signals potential expansion plans or higher leverage ahead, which shareholders should watch closely. Approval of higher MD remuneration and related party transactions are governance points worth monitoring.