Northern Arc Capital Limited has informed the Exchange regarding Change in Auditors of the company.
NORTHARC · price
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Northern Arc Capital held its 17th AGM on August 25, 2025, where shareholders approved audited financial statements for FY ended March 31, 2025. A new Secretarial Auditor, M/s. Alagar & Associates, was appointed for 5 years (April 2025 to March 2030), replacing M/s. M Damodaran and Associates whose term naturally concluded after the FY25 audit. Shareholders also approved creation of charges on company assets up to INR 15,000 Crores and increased the borrowing limit to the same amount. The company was authorised to issue Non-Convertible Debentures up to INR 5,000 Crores via private placement, in one or more tranches. The ESOP pool was expanded by 4,71,209 options, taking the total to 94,78,967. Remuneration revisions were cleared for Chairperson P S Jayakumar and MD & CEO Ashish Mehrotra.
The large debt-raising approvals (INR 15,000 Crores borrowings + INR 5,000 Crores NCDs) point to significant growth or refinancing plans, which is relevant for a financial services company. The auditor change is a routine rotation, not a governance red flag, and the ESOP expansion signals continued retention focus.