Jet Freight Logistics Limited shareholders approved special resolutions to increase the company's overall borrowing limit, permit the creation of mortgages or charges on assets, and raise the cap on investments and loans. These approvals were secured during the company's 20th Annual General Meeting held on September 23, 2026.

The meeting, conducted via video conferencing, also saw the adoption of the audited standalone and consolidated financial statements for FY26. The statutory audit reports for both standalone and consolidated accounts contained no qualifications, observations, or adverse remarks.

Key resolutions passed

All proposed resolutions were approved by members with the requisite majority. The ordinary business items included the adoption of financial statements and the re-appointment of Richard Theknath as a director retiring by rotation.

The special business items focused on expanding the company's financial flexibility:

Voting results and participation

Voting results disclosed pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, indicate that 51.86% of the total outstanding shares participated in the e-voting process. The total number of shareholders on the record date was 19,842, with 67 shareholders attending the meeting through video conferencing.

The promoter and promoter group held 23,626,488 shares and voted 100% in favour across all resolutions. Public institutions holding 31,426 shares did not cast any votes. Public non-institutional shareholders, who held 22,745,870 shares, saw a turnout of 1.93% of their holdings.

Dissent analysis

While all resolutions passed comfortably, a small segment of public non-institutional shareholders voted against the special resolutions regarding borrowing limits, asset charges, and investment caps. Specifically, 105 votes were cast against these three special resolutions, representing 0.02% of the votes polled by this category. In contrast, the resolution for the re-appointment of Richard Francis Theknath received 100% support from public non-institutional voters, with zero dissent.

Meeting proceedings

The AGM commenced at 11:34 am after quorum was established. Chairman Richard Francis Theknath chaired the session, noting that all directors were present via video conference. Representatives from statutory auditors Ajay Shoba & Co and secretarial auditors Parikh & Associates attended the meeting virtually.

E-voting was facilitated through Bigshare Services Private Limited, with Jigyasa Ved from Parikh & Associates serving as the scrutinizer. The meeting concluded at 12:15 pm, with voting results disseminated to stock exchanges within statutory timelines.

Jet Freight Logistics Limited has confirmed the schedule for its 20th Annual General Meeting (AGM), set to commence at 11:30 am on Wednesday, September 23, 2026. The company will transact ordinary and special business via Video Conferencing or Other Audio-Visual Means (VC/OAVM).

The disclosure was issued on August 28, 2026, with a subsequent newspaper advertisement published on August 31, 2026, in compliance with Regulation 30 and Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Anmol Ashvin Patni, Company Secretary and Compliance Officer, signed the communications.

Meeting Details

Members can participate in the meeting remotely through the VC/OAVM facility. The company has dispatched the notice of the AGM along with the Annual Report for FY26 electronically to members whose email addresses are registered with their depository participants or the company.

Shareholders holding shares in physical mode are requested to furnish their email addresses to the Registrar and Share Transfer Agent, Bigshare Services Private Limited. Those who have not registered email addresses will receive a letter with a web-link to access the Annual Report.

Agenda Items

The AGM will address the following business items:

Ordinary Business

• Receive, consider, and adopt the Annual Audited Standalone Financial Statements for FY26 along with Board and Statutory Auditor reports.
• Receive, consider, and adopt the Annual Audited Consolidated Financial Statements for FY26 along with Statutory Auditor reports.
• Reappoint Mr. Richard Theknath (DIN: 01337478), who retires by rotation and offers himself for reappointment.

Special Business

Shareholders will vote on three special resolutions:

1. Increase in borrowing limit: Approval under Section 180(1)(c) of the Companies Act, 2013, to increase the overall borrowing limit to ₹250 crore. This supersedes the previous limit of ₹100 crore approved in 2019.
2. Creation of mortgage/charge: Approval under Section 180(1)(a) to create mortgages or charges on assets to secure loans up to ₹250 crore.
3. Investment and loan limits: Approval under Section 186 to increase the limit for investments, loans, and guarantees to ₹150 crore.

Voting Process

Jet Freight Logistics has engaged Bigshare Services Private Limited to provide remote e-voting facilities. M/s Parikh & Associates has been appointed as the scrutinizer for the e-voting process. Members may cast their votes remotely or during the AGM. The specific timeline for e-voting is as follows:

Members who have cast their votes by remote e-voting prior to the AGM may attend the meeting but shall not be entitled to cast their votes again.