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Awaiting price reaction for this filing.
Mega Nirman & Industries has informed BSE that it published a Postal Ballot Notice in Financial Express (English) and Jansatta (Hindi) on January 22, 2026, seeking shareholder approval for three resolutions. First, the appointment of M/s. Krishan Rakesh & Co. (FRN: 009088N) as the new Statutory Auditor to fill the casual vacancy caused by the resignation of the previous auditor. Second, an increase in the company's borrowing limits under Section 180(1)(c) of the Companies Act, 2013. Third, approval to give loans, make investments, issue guarantees, or provide security under Section 186 of the Companies Act, 2013. The filing is made under SEBI LODR Regulation 47 read with Regulation 30(4). E-voting and postal ballot timelines will follow standard SEBI rules.
Shareholders should note the auditor change signals a recent resignation by the prior auditor, which is worth monitoring for any underlying governance or financial concerns. The proposed increase in borrowing limits and broad Section 186 approval suggest the company may be planning higher debt or inter-company fund flows, which can affect leverage and capital structure.