Submission of Voting Results of Postal Ballot under Regulation 44 of SEBI (LODR) Regulations, 2015.
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New Light Apparels Limited announced the results of its postal ballot conducted via remote e-voting from March 12 to April 10, 2025. All 6 special resolutions were approved by shareholders with overwhelming majority (~99.98% in favor). Key resolutions include: (1) altering the Objects Clause of the Memorandum of Association, (2) increasing the borrowing limit to Rs. 25 Crores under Section 180(1)(c), (3) creating security on company properties up to Rs. 25 Crores for lenders under Section 180(1)(a), (4) approving loans/investments/guarantees under Section 186, (5) appointing Mr. Gurcharan Lal Makkad as Executive Director, and (6) clarification on a prior EGM disclosure. About 21.76 lakh shares (24.84% of total 87.6 lakh shares) were polled, with promoter group holding 44.47 lakh shares. Turnout was modest at roughly 25%.
Shareholders have greenlit a higher debt ceiling (Rs. 25 Cr), potential pledging of assets as collateral, and broader powers to lend/invest — signaling the company may be preparing to raise significant borrowings or expand operations. The new Executive Director appointment strengthens the Makkad family management control, while the MOA object change gives the company flexibility to enter new business areas. Modest voting turnout means resolutions passed largely on promoter-backed support.