North Eastern Carrying Corporation Limited Issues Corrigendum to Postal Ballot Notice

north eastern carrying corp. has issued a corrigendum to its postal ballot notice dated April 16, 2026, announcing several important revisions to Item No. 6 of the original notice. The corrigendum was issued on April 30, 2026, and addresses rectifications, additions, clarifications, and modifications to the ongoing postal ballot process for which e-voting is available from April 17, 2026, to May 16, 2026.

Rectification of Relevant Date and Issue Price

The company has rectified the relevant date for determining the minimum issue price of equity shares to April 16, 2026, which is 30 days prior to the date of the general meeting or postal ballot. This replaces the earlier record date of April 14, 2026. Pursuant to Regulation 164 of the SEBI (ICDR) Regulations, 2018, and in view of this revision, the issue price has been re-computed based on the 90/10-day Volume Weighted Average Price (VWAP). The revised issue price stands at Rs. 15.18 per equity share, compared to the earlier issue price of Rs. 14.91 per share.

Revision of Consideration Amount

Due to the rectification in the relevant date and the revision of the issue price, the value of the outstanding loan proposed to be converted has been revised. The consideration amount is now Rs. 6,83,10,000 (Rupees Six Crores Eighty Three Lakhs Ten Thousand Only), as against the earlier consideration amount of Rs. 8,00,00,000 (Rupees Eight Crores Only).

Revised Shareholding Pattern

The corrigendum provides the revised shareholding pattern of the company before and after the proposed preferential issue of 45,00,000 equity shares:

Category Pre Issue Shares Pre Issue % Addition/Issue Post Issue Shares Post Issue % Promoters' Holdings Individuals/HUF 2,07,08,651 20.71 45,00,000 2,52,08,651 24.12 Bodies Corporates 3,34,82,620 33.48 - 3,34,82,620 32.04 Sub Total (A) 5,41,91,271 54.19 45,00,000 5,86,91,271 56.16 Public Holdings Individual/HUF 3,05,73,024 30.57 - 3,05,73,024 29.26 Body Corporates 1,47,31,842 14.73 - 1,47,31,842 14.10 Non Resident 4,70,287 0.47 - 4,70,287 0.45 Any Others 33,576 0.03 - 33,576 0.03 Sub Total (B) 4,58,08,729 45.81 - 4,58,08,729 43.84 Grand Total 10,00,00,000 100.00 45,00,000 10,45,00,000 100.00

Additional Undertakings and Valuation Report

The company has included an additional undertaking stating that the issuer shall re-compute the price of the specified securities in terms of the provisions of applicable regulations where required. Furthermore, the company has obtained a valuation report from an independent registered valuer to ensure good corporate governance, compliance with regulatory requirements, fair and transparent determination of the issue price, and protection of shareholder interests.

Shareholders who have already cast their votes in the ongoing postal ballot but wish to modify their votes in light of the information provided in the corrigendum may do so by writing an email from their registered email address to the scrutinizer at akfriends38@yahoo.co.in on or before 5:00 P.M. on May 16, 2026. The corrigendum has been uploaded on the company's website and the websites of BSE Limited and National Stock Exchange of India Limited.

North Eastern Carrying Corporation Limited has issued a comprehensive postal ballot notice for shareholder approval on multiple corporate actions, including authorised share capital increase, preferential equity issue, and material related party transactions. The company has completed the newspaper publication process on April 17, 2026, with the e-voting period commencing the same day and concluding May 16, 2026.

Newspaper Publication and Regulatory Compliance

The company has fulfilled its regulatory obligations by publishing the postal ballot notice in Financial Express (English) and Jansatta (Hindi) newspapers on April 17, 2026. This publication was communicated to BSE Limited and National Stock Exchange of India Limited under Regulation 30, confirming compliance with disclosure requirements.

Publication Details: Information Publication Date: April 17, 2026 English Newspaper: Financial Express Hindi Newspaper: Jansatta Regulatory Filing: BSE and NSE notification completed

Authorised Share Capital Enhancement

The company proposes to increase its authorised share capital from Rs. 100.00 crores to Rs. 110.00 crores by creating additional 1.00 crore equity shares of Rs. 10.00 face value each. This expansion will facilitate future capital requirements and business growth initiatives.

Parameter: Current Structure Proposed Structure Authorised Capital: Rs. 100.00 crores Rs. 110.00 crores Total Shares: 10.00 crore shares 11.00 crore shares Face Value: Rs. 10.00 per share Rs. 10.00 per share

Preferential Issue for Debt Conversion

The board has approved issuing up to 45.00 lakh equity shares at Rs. 14.91 per share to promoter Mr. Sunil Kumar Jain for converting outstanding unsecured loans worth Rs. 8.00 crores into equity. This strategic move will strengthen the company's balance sheet by reducing debt obligations.

Issue Details: Specifications Maximum Shares: 45.00 lakh equity shares Issue Price: Rs. 14.91 per share Conversion Amount: Rs. 8.00 crores Allottee: Mr. Sunil Kumar Jain (Promoter)

Loan Conversion Framework

Shareholders will vote on enabling the company to raise loans up to Rs. 50.00 crores with conversion options into equity shares. The framework provides flexibility for various lenders to convert outstanding loans into fully paid equity shares at predetermined terms and conditions.

Investment and Guarantee Authorisation

The postal ballot seeks approval for the company to provide loans, guarantees, and securities exceeding statutory limits under Section 186 of the Companies Act 2013, up to Rs. 100.00 crores. Additionally, approval is sought for advancing loans to subsidiary companies where directors have interests, also up to Rs. 100.00 crores.

Material Related Party Transaction

Shareholders will approve material related party transactions with Shreyans Logistics Private Limited for the financial year 2026-27, valued at Rs. 50.00 crores. These transactions encompass vehicle hiring, commercial vehicle sales and purchases, and related logistics services.

Transaction Details: Information Related Party: Shreyans Logistics Private Limited Transaction Value: Rs. 50.00 crores Nature: Vehicle hiring, sales, logistics services Financial Year: 2026-27

Voting Process and Timeline

The e-voting facility operates from 9:00 AM on April 17, 2026, to 5:00 PM on May 16, 2026, exclusively through NSDL's electronic platform. Results will be announced within two working days after voting concludes, by May 19, 2026. Mr. Ashish Kumar Friends has been appointed as the scrutinizer for ensuring fair and transparent voting procedures.

Voting Schedule: Timeline E-voting Start: April 17, 2026 (9:00 AM) E-voting End: May 16, 2026 (5:00 PM) Cut-off Date: April 12, 2026 Results Declaration: By May 19, 2026 Scrutinizer: Mr. Ashish Kumar Friends

The postal ballot notice is available on the company's website, stock exchange platforms, and NSDL's e-voting portal for shareholder reference and participation.

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