North Eastern Carrying Corporation Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
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North Eastern Carrying Corporation Limited conducted a postal ballot through remote e-voting that concluded on May 16, 2026. All 7 resolutions were passed with overwhelming majority (over 99.9% votes in favour). Key resolutions include: (1) Increase in authorized share capital from Rs. 100 Crores to Rs. 110 Crores by creating 1 crore additional shares; (2) Alteration of Objects Clause to include warehousing, cold storage and distribution centre operations alongside existing transport business; (3) Approval to raise loans up to Rs. 50 Crores with option for lenders to convert into equity; (4) Approval to give loans/guarantees to subsidiaries/associates up to Rs. 100 Crores; (5) Approval for investments exceeding Section 186 limits up to Rs. 100 Crores; (6) Conversion of promoter unsecured loans worth Rs. 6.83 Crores into up to 45 lakh equity shares on preferential basis; (7) Material related party transactions with Shreyans Logistics Private Limited up to Rs. 50 Crores for FY 2026-27. Total valid votes polled were approximately 56.88% of total shares.
The increase in authorized capital and loan conversion to equity will result in share dilution. Promoter holding will increase after the preferential allotment of 45 lakh shares. The expanded objects clause signals the company's intent to diversify into warehousing and logistics infrastructure, potentially broadening its business model beyond just transportation.