North Eastern Carrying Corporation Limited has informed the Exchange regarding Outcome of Board Meeting held on April 14, 2026.
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The board approved several proposals including an increase in authorised share capital from ₹100 crore to ₹110 crore (adding 1 crore new equity shares of ₹10 each), alteration of the Object Clause to include new business activities, and raising funds via secured/unsecured loans with an option to convert into equity shares. The board also approved conversion of promoter unsecured loans into equity via preferential issue, granting loans/guarantees to subsidiaries up to ₹100 crore, and related party transactions with Shreyans Logistics Pvt. Ltd up to ₹50 crore. All proposals are subject to shareholder approval via postal ballot, with the record date set as February 10, 2026.
Shareholders should note potential equity dilution from loan-to-equity conversions and preferential issuance. The increase in authorised capital signals possible future issuances. These are structural changes pending shareholder sign-off.