Pursuant to our postal Ballot Notice dated April 16, 2026, seeking Member''s Approval of North Eastern Carrying Corporation Limited (the Company) by way of ordinary/special resolutions ....
NECCLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
North Eastern Carrying Corporation Limited completed a postal ballot through remote e-voting from April 17 to May 16, 2026, with results declared on May 19, 2026. All 7 resolutions were passed with overwhelming majority (over 99.9% in favour). Key resolutions include: (1) Increase in authorised share capital from Rs. 100 crore to Rs. 110 crore by creating 1 crore additional equity shares; (2) Alteration of Objects Clause to include acquisition of transport vehicles and establishment of warehouses/cold storage facilities; (3) Approval to raise loans up to Rs. 50 crore with conversion option into equity; (4) Loan/guarantee facility for subsidiaries/associates up to Rs. 100 crore; (5) Investment and loan authority exceeding Section 186 limits up to Rs. 100 crore; (6) Preferential allotment of up to 45 lakh equity shares to promoters for conversion of Rs. 6.83 crore unsecured loans; (7) Material related party transaction with Shreyans Logistics Private Limited up to Rs. 50 crore for FY 2026-27.
The capital increase and preferential share issuance to promoters indicate potential equity dilution but also stronger promoter commitment. Expansion into warehousing and cold storage facilities signals strategic diversification beyond core logistics business. The large related party transaction limit with Shreyans Logistics warrants monitoring for transparency.