East west holdings freight carriers announced significant board changes and issued a postal ballot notice seeking shareholder approval for the regularisation of its newly appointed independent director. The company informed BSE Limited about these developments under Regulation 30 of SEBI listing requirements.

New Independent Director Appointment

The board approved the appointment of Mr. Manish Synghal (DIN: 01450135) as Additional Director in the category of Non-Executive Independent Director on April 1, 2026. The appointment requires shareholder approval through postal ballot process.

Manish Synghal brings over 30 years of strategic and operational expertise as Founder and Managing Director of Dimaz Group. He holds an M.Tech in Automation and provides leadership across diversified subsidiaries including Dimaz Aviation Pvt. Ltd., Dimaz Transworld Pvt. Ltd., Dimaz Agastyaa Productions Pvt. Ltd., Manas Healthcare Pvt. Ltd., and Albatross Exports & Imports. His experience spans aviation, travel and tourism, international cargo, healthcare, education, events, and film production sectors.

Postal Ballot Notice and E-Voting Process

The company issued a postal ballot notice on April 1, 2026, for the regularisation of Mr. Manish Synghal as Independent Director. The e-voting process has been arranged through NSDL (National Securities Depository Limited) to enable shareholders to cast their votes electronically.

The notice is available on the company's website at www.ewfcpl.com , BSE website, and NSDL's e-voting portal. Only shareholders whose names appear in the register of members as on the cut-off date are eligible to vote.

Board Committee Reconstitution

The board approved the reconstitution of three key committees with the inclusion of the new director:

Audit Committee:

Stakeholder Relationship Committee:

Nomination and Remuneration Committee:

Professional Background and Recognition

Synghal has been recognized for building high-performance teams, forging strategic partnerships, and implementing scalable solutions that deliver sustained commercial impact. Under his leadership, the Dimaz Group has achieved significant market traction through innovation and disciplined execution. In 2012, he was honored by Russia with a distinguished medal for his contributions to Indo-Russian tourism relations.

Currently, he serves as President of The IATA Agents Association of India – Maharashtra Chapter, where he champions industry collaboration, regulatory engagement, and best practices to advance the aviation and travel sectors. The company confirmed that Synghal is not related to any existing directors and is not debarred from holding directorship by any regulatory authority.

The resolution, if passed by requisite majority, will be deemed to have been passed on May 7, 2026. The board meeting was conducted from 3:00 p.m. to 4:00 p.m. (IST) on April 1, 2026.

East West Freight Carriers Limited has filed a petition with the National Company Law Tribunal (NCLT) Mumbai Bench seeking approval for consolidation of its equity shares. The company aims to increase the face value of its shares from Rs. 2 per share to Rs. 10 per share through this consolidation process. The company has now published mandatory newspaper notices as directed by the tribunal.

NCLT Petition Details

The petition was filed under Section 61(1)(b) of the Companies Act, 2013 read with Rule 35 and Rule 71 of the National Company Law Tribunals Rules, 2016. The company submitted the petition on June 27, 2025, which was subsequently admitted by the Hon'ble Tribunal on February 24, 2026.

Regulatory Compliance and Publication

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company informed BSE Limited on February 28, 2026 about the publication of newspaper notices. As directed by the NCLT, the company published hearing notices in compliance with Rule 35 and Rule 71 of the National Company Law Tribunals Rules, 2016.

Share Consolidation Structure

The proposed consolidation involves converting every five equity shares of Rs. 2 each into one equity share of Rs. 10 each. This will result in a significant reduction in the total number of outstanding shares while maintaining the same aggregate value.

Corporate Approvals and Timeline

The consolidation proposal has received necessary approvals from the company's governance bodies. The Board of Directors approved the share consolidation at their meeting held on February 14, 2025. Subsequently, the equity shareholders approved the proposal with requisite majority through postal ballot, including remote e-voting, on March 26, 2025.

Impact on Shareholders

As per the BENPOS data dated February 7, 2025, the company has 24,943 total shareholders. Post-consolidation, 2,475 equity shareholders will not receive any shares due to fractional entitlements. These shareholders will instead receive sale proceeds proportionate to their fractional entitlements. The total fractional consolidation amounts to 3,584 equity shares, representing 0.01% of the total paid-up share capital.

Company Background

East West Freight Carriers Limited operates in the transportation logistics sector, providing comprehensive logistics services including transportation planning, warehousing, supply-chain management, and customs handling services. The company was originally incorporated as Ranken Bonds & Holdings Limited on August 25, 1981, and underwent several name changes before adopting its current name on July 9, 2024. The company's current authorized share capital stands at Rs. 33,00,00,000 consisting of 16,50,00,000 equity shares of Rs. 2 each.