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.

East West Freight Carriers Limited has announced the resignation of Ms. Suman Jhawar as Non-Executive Independent Director, effective from the close of business hours on February 28, 2026. The resignation was communicated to stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Resignation Details

Ms. Suman Jhawar (DIN-10233890) submitted her resignation letter on February 27, 2026, citing health issues as the primary reason for her departure. In her resignation letter, she stated that due to health concerns, she would not be able to fulfill her responsibilities and duties towards the company.

Board Committee Memberships

Ms. Jhawar held significant positions within the company's governance structure. She served as a member of three key board committees:

• Audit Committee
• Nomination and Remuneration Committee
• Stakeholder Relationship Committee

According to the company's disclosure, apart from East West Freight Carriers Limited, the resigning director does not hold directorships in any other listed entities nor is she a member on the board of any other committees.

Regulatory Compliance

The company has fulfilled its regulatory obligations by informing the relevant stock exchanges about this board change. The intimation was sent to BSE Limited (Scrip Code: 540006) and The Calcutta Stock Exchange Limited (Scrip Code: 028105) as required under SEBI regulations.

Mohammed Ajaz Shafi, Managing Director & CEO (DIN: 00176360), signed the official communication to the exchanges. The company provided all necessary details as required under Regulation 30(6) read with Schedule III of the Listing Regulations and SEBI Circular dated July 13, 2023.

Company Background

East West Freight Carriers Limited, formerly known as East West Holdings Ltd, operates as authorized clearing and freight forwarding agents. The company is registered with CIN No.: L74110MH1981PLC298496 and maintains its registered office at 62, Adarsh Industrial Estate, Sahar Road, Chakala, Andheri (East), Mumbai - 400 099.