Northern Arc Capital Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 25, 2025
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Northern Arc Capital held its 17th AGM on August 25, 2025 via video conferencing, from 11:00 AM to 11:47 AM. Out of 1,09,684 shareholders on the cut-off date (August 19, 2025), 58 attended. Chairman P.S. Jayakumar chaired the meeting, and the Auditors' Report and Secretarial Audit Report for FY 2024-25 had no qualifications. Nine resolutions were transacted, including 6 special resolutions covering: increase in borrowing powers under Section 180(1)(c), creation of charges on company assets, private placement of Non-Convertible Debentures (NCDs) in one or more tranches, increase in ESOP options under the 2016 plan, and revision of remuneration for both the Chairman and the MD & CEO Ashish Mehrotra.
The special resolutions to raise borrowing limits and issue NCDs on private placement signal plans to expand debt-funded lending operations, which may support business growth but also increase leverage. The ESOP expansion and revised managerial remuneration align management incentives with long-term shareholder value.