Nitin Spinners Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot
NITINSPIN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Nitin Spinners Limited conducted a postal ballot via e-voting from February 12 to March 13, 2026, and shareholders approved both special resolutions with overwhelming majority. The first resolution authorised the Board to borrow money under Section 180(1)(c) of the Companies Act, 2013, passing with 99.90% votes in favour. The second resolution authorised the Board to create security on the increased borrowing power under Section 180(1)(a), also passing with 99.90% approval. A total of 4.02 crore shares (71.58% of outstanding shares of 5.62 crore) participated in voting across 35,246 eligible shareholders. Promoters voted 100% in favour on both resolutions, while institutional and public shareholders also strongly supported the proposals with over 99.5% approval.
Shareholders have given the Board expanded authority to take on additional debt and pledge company assets as security for those borrowings. While the near-unanimous approval reflects strong shareholder confidence, investors should note that this significantly raises the company's potential debt ceiling, which could increase financial risk if the borrowed funds are not deployed productively.