Amarnath Securities Board Approves ₹47.43 Lakh Loan Conversion to Equity Shares
Amarnath Securities Limited's board meeting on March 11, 2026, resulted in approval of significant corporate restructuring including conversion of ₹47.43 lakh unsecured loan into 3,16,200 equity shares at ₹10 face value each through preferential allotment to 13 non-promoter group investors. The board also approved postal ballot proposals for statutory auditor appointment of M/s. H K Shah & Co. for five years and director designation changes, with March 20, 2026 set as cut-off date for e-voting eligibility.
*this image is generated using AI for illustrative purposes only.
Amarnath Securities Limited's board of directors concluded their meeting on March 11, 2026, approving significant corporate restructuring measures including loan conversion to equity and postal ballot proposals. The meeting, which commenced at 2:30 PM and concluded at 4:30 PM, addressed multiple agenda items requiring shareholder approval and regulatory compliance under SEBI regulations.
Loan Conversion Approval
The board approved the conversion of unsecured loans totaling ₹47,43,000 into equity shares, subject to shareholder approval through special resolution via postal ballot.
| Parameter | Details |
|---|---|
| Total Equity Shares | 3,16,200 shares |
| Face Value per Share | ₹10.00 |
| Loan Amount Converting | ₹47,43,000 |
| Issue Basis | Preferential allotment |
| Tranches | One or more tranches |
Allottee Distribution
The preferential issue will benefit 13 investors from the non-promoter group, with varying shareholding percentages post-allotment.
| Key Allottees | Shares Allocated | Post-Allotment % |
|---|---|---|
| Shakti Parekh | 65,000 | 1.96% |
| Munish A. T | 50,000 | 1.51% |
| Pritam Dham | 50,000 | 1.51% |
| Gunjan Singh | 50,000 | 1.51% |
| Awadesh Kumar Gupta | 30,000 | 0.90% |
Postal Ballot Matters
The board approved the postal ballot notice seeking member approval for multiple corporate actions with March 20, 2026, set as the cut-off date for shareholder determination and e-voting eligibility.
Key Proposals
- Auditor Appointment: M/s. H K Shah & Co., Chartered Accountants as statutory auditors for five years (FY 2025-26 to FY 2029-30)
- Director Designations: Change of Mr. Rajendrabhai Ramanbhai Patel (DIN: 08981646) from Additional Director to Whole-time Director (Executive)
- Independent Director: Change of Mr. Kaustubh Pramod Joshi (DIN: 08467458) from Additional Director to Independent Director (Non-Executive)
Regulatory Framework
The preferential issue complies with Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and Companies Act, 2013. Mr. Shravan Gupta, Practicing Company Secretary, has been appointed as scrutinizer for the postal ballot process through e-voting to ensure fair and transparent proceedings.
The company has made all relevant information available on its website and BSE platform for stakeholder access, maintaining compliance with listing obligations and disclosure requirements.
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