North Eastern Carrying Corporation Limited held its 41st Annual General Meeting on September 10, 2026. Shareholders approved several special resolutions, including an increase in authorized share capital and the issuance of convertible warrants to the promoter.

The meeting was conducted via video conferencing or other audio-visual means (VC/OAVM). The proceedings were deemed to have taken place at the company's registered office in Delhi. Mr. Utkarsh Jain, Executive Director, chaired the meeting.

Capital Structure Changes

Members approved increasing the authorized share capital from ₹110 crore to ₹150 crore. This involves creating 4 crore additional equity shares of ₹10 face value each. The resolution also mandates amending Clause V of the Memorandum of Association accordingly.

Promoter Warrant Allotment

The AGM approved the preferential allotment of 1 crore convertible warrants to Mr. Sunil Kumar Jain, the promoter. Each warrant entitles the holder to one equity share of ₹10 face value. The issue price is set at ₹18.51 per warrant, aggregating to ₹18.51 crore.

Debt Conversion Option

Shareholders granted approval to convert loans from various lenders into equity-linked securities. This facility covers loans up to ₹50 crore. Lenders may opt to convert debt into convertible warrants, preference shares, debentures, or non-convertible debentures with conversion rights.

Management Re-appointments

The meeting approved the re-appointment of key management personnel for five-year terms starting October 1, 2026:

Mr. Utkarsh Jain was also re-appointed as a director retiring by rotation.

Audit Appointment

M/s Nemani Garg Agarwal & Co. were re-appointed as statutory auditors for five years, from April 1, 2026, to March 31, 2031. The company secretary informed members that the audited financial statements for FY26 were adopted during the meeting.

North Eastern Carrying Corporation disclosed that its promoter group entity, NECC Securities Private Limited, sold 5,00,010 equity shares on September 2, 2026. The transaction was valued at ₹84,50,169.

The sale reduced NECC Securities' holding in the company from 1,40,48,072 shares (13.44%) to 1,35,48,062 shares (12.96%). The trade was executed on the market.

Transaction Details

The disclosure was made under Regulation 29(2) read with Regulation 29(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company received the intimation on September 3, 2026.

No derivatives trading was reported in the disclosure. The remaining stake of 12.96% continues to be held by the promoter group entity.