NECC Passes All Resolutions in Postal Ballot
North Eastern Carrying Corporation Limited successfully passed all seven resolutions during its postal ballot conducted through remote e-voting, which concluded on May 16, 2026. The resolutions, approved with a majority vote, encompass increasing the authorised share capital from Rs. 100 Crore to Rs. 110 Crore, altering the objects clause, and raising funds up to INR 50 Crore via secured or unsecured loans convertible to equity. Additionally, shareholders approved investments and loans exceeding Section 186 limits, conversion of unsecured loans into equity shares for the promoter group, and material related party transactions with Shreyans Logistics Private Limited for FY 2026-27 up to Rs. 50 Crore.
*this image is generated using AI for illustrative purposes only.
North Eastern Carrying Corporation Limited concluded its postal ballot through remote e-voting on May 16, 2026, at 05:00 P.M. (IST), with all seven resolutions receiving the requisite majority. Based on the Scrutinizer's Report dated May 18, 2026, submitted by Ashish Kumar Friends, Practicing Company Secretary, the results were formally declared on May 19, 2026. The results were communicated to BSE Limited and the National Stock Exchange of India Limited by Rakesh, Company Secretary and Compliance Officer, in compliance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Dates in the Postal Ballot Process
| Event | Date / Details |
|---|---|
| Cut-off / Record Date | April 10, 2026 |
| Total Shareholders on Record Date | 43,752 |
| Remote E-Voting Commenced | April 17, 2026, at 09:00 A.M. |
| Remote E-Voting Closed | May 16, 2026, at 05:00 P.M. |
| Scrutinizer's Report Date | May 18, 2026 |
| Results Declared | May 19, 2026 |
Resolutions Placed Before Members
The following seven resolutions were presented to members for approval via remote e-voting:
| Sr. No. | Resolution | Type |
|---|---|---|
| 1 | Increase in Authorised Share Capital and consequent Alteration to the Capital Clause of the Memorandum of Association | Ordinary Resolution |
| 2 | Alteration and addition of Objects Clause of Memorandum of Association | Special Resolution |
| 3 | Raising of funds through Secured/Unsecured Loan with an option to Conversion into Equity Shares | Special Resolution |
| 4 | Advance of Loan, Guarantee, or Security in connection with Loans/Debentures/Bonds raised by Subsidiary/Body Corporate(s) in whom any Director is interested, up to Rs. 100 Crore | Special Resolution |
| 5 | Investments, Loans, Guarantees, and Security in excess of limits under Section 186 of the Companies Act, 2013 | Special Resolution |
| 6 | Conversion of Unsecured Loans into Equity Shares | Special Resolution |
| 7 | Material Related Party Transactions with Shreyans Logistics Private Limited | Ordinary Resolution |
Voting Results Summary
All seven resolutions were passed with the requisite majority. The detailed voting outcomes as reported by the Scrutinizer are presented below:
| Resolution | Votes in Favour | % in Favour | Votes Against | % Against | Invalid Votes | Result |
|---|---|---|---|---|---|---|
| Resolution 1 (Ordinary) – Increase in Authorised Share Capital | 5,68,71,636 | 99.99% | 10,870 | 0.01% | — | Passed |
| Resolution 2 (Special) – Alteration of Objects Clause of MoA | 5,68,71,637 | 99.99% | 10,869 | 0.01% | — | Passed |
| Resolution 3 (Special) – Raising of Funds via Secured/Unsecured Loan with Conversion Option | 5,68,71,637 | 99.99% | 10,869 | 0.01% | — | Passed |
| Resolution 4 (Special) – Loan/Guarantee/Security for Subsidiary/Body Corporates up to Rs. 100 Crore | 3,61,62,886 | 99.97% | 10,969 | 0.03% | 2,07,08,651 | Passed |
| Resolution 5 (Special) – Investments/Loans/Guarantees in Excess of Section 186 Limits | 5,68,71,564 | 99.99% | 10,942 | 0.01% | — | Passed |
| Resolution 6 (Special) – Conversion of Unsecured Loans into Equity Shares | 3,61,62,533 | 99.97% | 11,322 | 0.03% | 2,07,08,651 | Passed |
| Resolution 7 (Ordinary) – Material Related Party Transactions with Shreyans Logistics Pvt. Ltd. | 3,61,61,156 | 99.96% | 12,699 | 0.04% | 2,07,08,651 | Passed |
Key Highlights of Approved Resolutions
The approved resolutions carry significant implications for the Company's capital structure and business operations. Resolution 1 authorises an increase in Authorised Share Capital from Rs. 100,00,00,000/- (Rupees One Hundred Crores only) divided into 10,00,00,000 equity shares of Rs. 10/- each, to Rs. 110,00,00,000/- (Rupees One Hundred Ten Crores only) by creation of an additional 1,00,00,000 equity shares of Rs. 10/- each. Resolution 3 permits the raising of funds through secured/unsecured loans up to INR 50,00,00,000/- (Indian Rupees Fifty Crores Only) with an option for lenders to convert such loans into fully paid-up equity shares. Resolution 6 authorises the allotment, on a preferential basis, of up to 45,00,000 (Forty Five Lakhs) equity shares of face value Rs. 10/- each to persons belonging to the Promoter and Promoter Group, towards conversion of outstanding unsecured loans up to Rs. 6,83,10,000/- (Rupees Six Crore Eighty Three Lakhs Ten Thousand Only). Resolution 7 approves Material Related Party Transactions with Shreyans Logistics Private Limited for Financial Year 2026-27 for a value of up to Rs. 50,00,00,000/- (Rupees Fifty Crores Only).
Dissemination of Results
The Scrutinizer's Report and voting results have been made available on the Company's website at www.neccgroup.com , on the NSDL e-voting website at www.evoting.nsdl.com , on the notice board at the Registered Office of North Eastern Carrying Corporation Limited, and submitted to the Stock Exchanges. All electronic data and relevant records of e-voting have been handed over to the Company Secretary for safe keeping.
Historical Stock Returns for North Eastern Carrying Corp.
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.77% | +2.80% | -2.28% | -22.94% | -37.42% | +64.92% |
How will the conversion of up to 45 lakh equity shares to promoter group members impact the public shareholding pattern and potential dilution for minority investors?
What specific expansion plans or strategic initiatives is North Eastern Carrying Corporation likely to pursue following the approval to raise up to Rs. 50 crore through secured/unsecured loans?
How might the Material Related Party Transactions worth up to Rs. 50 crore with Shreyans Logistics Private Limited affect the company's operational efficiency and revenue outlook for FY 2026-27?
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