North Eastern Carrying Corporation Limited (NSE:NECCLTD) filed a notice on 14 August 2026 informing shareholders that its 41st Annual General Meeting will be held on Thursday, 10 September 2026 at 12:30 PM IST via Video Conferencing or Other Audio Visual Means.
Key Highlights
- The 41st AGM is scheduled for 10 September 2026 at 12:30 PM IST, conducted through VC/OAVM in accordance with applicable Companies Act and SEBI LODR provisions.
- The cut-off date for determining shareholder eligibility to vote is Thursday, 3 September 2026, with book closure running from 3 September to 10 September 2026.
- Remote e-voting will be open from 9:00 AM on Monday, 7 September 2026 to 5:00 PM on Wednesday, 9 September 2026.
- Shareholders will be asked to vote on five resolutions, including re-appointment of two key managerial personnel and re-appointment of statutory auditors for a five-year term.
About the Company
North Eastern Carrying Corporation Limited (NSE:NECCLTD) is a Delhi-headquartered logistics and surface transport company incorporated in 1984 under CIN L49231DL1984PLC019485. Operating under the brand NECC, the company provides cargo transportation and carrying services, with its registered office located at 9062/47, Ram Bagh Road, Azad Market, Delhi-110006. It is listed on the National Stock Exchange under the ticker NECCLTD and falls within the logistics and transportation sector.
Announcement in Detail
The AGM notice sets out five resolutions for shareholder consideration. The three ordinary business items are: adoption of audited financial statements for the financial year ended 31 March 2026; re-appointment of Mr. Utkarsh Jain (DIN: 05271884) as a director liable to retire by rotation; and re-appointment of M/s Nemani Garg Agarwal & Co., Chartered Accountants (Firm Registration No. 010192N) as statutory auditors for a fresh five-year term from the 41st AGM to the conclusion of the 46th AGM.
The two special business resolutions seek shareholder approval for the re-appointment of Mr. Sunil Kumar Jain (DIN: 00010695) as Chairman and Managing Director for a five-year term from 1 October 2026 to 30 September 2031, with remuneration of up to Rs. 85,00,000 per annum, and re-appointment of Mr. Utkarsh Jain as Whole Time Director for the same five-year period at remuneration of up to Rs. 60,00,000 per annum.
Impact on Investors
Investors will note that the two special resolutions require shareholder approval by special majority, as they pertain to managerial remuneration under Sections 196, 197 and 198 of the Companies Act, 2013 read with Schedule V. The filing shows that remuneration caps of Rs. 85 lakh per annum for the CMD and Rs. 60 lakh per annum for the Whole Time Director apply for the five-year tenure starting October 2026. The notice also confirms that if profits are inadequate in any financial year, the approved remuneration will serve as minimum remuneration under Schedule V.
Shareholders will observe that the cut-off date of 3 September 2026 is the relevant date for determining voting eligibility, and those holding shares as of that date may cast votes electronically during the e-voting window. This is a notice filing only; the resolutions have not yet been passed or rejected, and outcomes will be known after the meeting on 10 September 2026.
Sector / Market Context
India's logistics sector continues to attract policy attention following the introduction of the National Logistics Policy in 2022, which targets reducing logistics costs as a share of GDP. Surface transport and cargo carrying remain foundational segments within this framework, with the Ministry of Commerce and Industry tracking efficiency metrics across road, rail, and multimodal freight corridors. Companies operating in this space are subject to SEBI LODR compliance requirements for shareholder communication, including the conduct of AGMs through virtual or physical modes as prescribed.