News Corporate Actions East West Freight Carriers Files NCLT Petition for Share Consolidation with Hearing Set for April 8, 2026East West Freight Carriers Files NCLT Petition for Share Consolidation with Hearing Set for April 8, 2026
East West Freight Carriers Limited has filed a petition with NCLT Mumbai for share consolidation, seeking to convert 12,75,75,000 equity shares of Rs. 2 each into 2,55,15,000 shares of Rs. 10 each. The petition was admitted on February 24, 2026, with hearing scheduled for April 8, 2026. The consolidation was approved by the Board on February 14, 2025, and by shareholders through postal ballot on March 26, 2025.
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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.
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.
| Parameter | Details |
|---|---|
| Petition Number | CP/143(MB)2025 |
| Filing Date | June 27, 2025 |
| Admission Date | February 24, 2026 |
| Hearing Date | April 8, 2026 |
| Venue | NCLT Mumbai Bench - Court V |
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.
| Current Structure | Post-Consolidation |
|---|---|
| Number of Shares | 12,75,75,000 |
| Face Value per Share | Rs. 2 |
| Total Paid-up Capital | Rs. 25,51,50,000 |
| Consolidation Ratio | 5:1 |
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.
Regulatory Compliance Requirements
The NCLT has directed the company to complete several compliance requirements within seven days of the February 24, 2026 order:
- Serve notices to Ministry of Corporate Affairs, Central Government, stock exchanges, and SEBI
- Publish hearing notices in "Free Press Journal" (English) and "Navshakti" (Marathi)
- File affidavit of service confirming dispatch and publication of notices
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.
Historical Stock Returns for East West Holdings Freight Carriers
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.53% | +1.84% | +14.48% | -39.42% | -43.82% | -71.60% |
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