North Eastern Carrying Corporation Limited disclosed that Promoter and Managing Director Sunil Kumar Jain acquired 45,00,000 equity shares through a preferential allotment on June 06, 2026. The acquisition, valued at ₹6.83 crore, increases Jain's stake in the company to 8.09%.

The disclosure was submitted to the stock exchanges on June 08, 2026, under Regulation 7(2)(b) read with Regulation 6(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The company confirmed that the allotment was executed off-market, with no exchange trade involved.

Prior to this transaction, Jain held 39,55,062 equity shares, representing a 3.96% stake in the company. Following the preferential allotment, his total holding has risen to 84,55,062 shares. The intimation regarding the acquisition was received by the company on June 08, 2026.

Transaction Details

The following table outlines the changes in Sunil Kumar Jain's shareholding:

The company stated that there were no derivative trades executed by the acquirer on the securities of the company during the relevant period.

North Eastern Carrying Corporation Limited secured shareholder approval to increase its authorised share capital and raise funds through secured or unsecured loans, following a postal ballot concluded on May 16, 2026. The company received consent to alter its memorandum of association and approve material related party transactions, impacting its capital structure and operational scope for the financial year 2026-27.

The postal ballot, conducted via remote e-voting from April 17, 2026, to May 16, 2026, sought consent on seven resolutions. Mr. Ashish Kumar Friends, Practicing Company Secretary, served as the Scrutinizer. The results were declared based on the Scrutinizer's Report dated May 18, 2026, and the minutes were submitted to the exchanges on June 08, 2026.

Capital and Memorandum Alterations

Shareholders approved an ordinary resolution to increase the authorised share capital from ₹100 crore to ₹110 crore by creating an additional 1 crore equity shares of ₹10 each. Consequently, Clause V of the Memorandum of Association was altered to reflect the new capital structure.

A special resolution was passed to alter the Objects Clause of the Memorandum of Association. This included modifications to Clause III (A) (2) to trade in various transport means and the addition of Clause III (A) (5) to establish and operate warehouses, cold storage facilities, and distribution centres.

Fund Raising and Financial Approvals

The company approved raising funds through secured or unsecured loans up to ₹50 crore, with an option for lenders to convert the debt into fully paid-up equity shares. The conversion price will be determined at the time of conversion, complying with applicable regulations.

Shareholders also authorised the Board to provide loans, guarantees, or security to subsidiaries or associate companies where directors are interested, up to an aggregate amount of ₹100 crore. Furthermore, the company received approval to make investments, give loans, and provide guarantees exceeding the limits specified under Section 186 of the Companies Act, 2013, up to ₹100 crore.

Conversion of Unsecured Loans and Related Party Transactions

A special resolution allowed the conversion of outstanding unsecured loans amounting to ₹6.83 crore into 45 lakh equity shares on a preferential basis to persons belonging to the Promoter and Promoter Group. The relevant date for determining the minimum issue price was fixed as April 16, 2026.

Finally, shareholders approved an ordinary resolution for material related party transactions with Shreyans Logistics Private Limited for the financial year 2026-27, up to a value of ₹50 crore.