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Sunday Proptech Calls EGM to Approve ₹3,500 Crore Borrowing Plan and Capital Expansion
Sunday Proptech Calls EGM to Approve ₹3,500 Crore Borrowing Plan and Capital Expansion
Sunday Proptech EGM tomorrow below are the key points:
1. Purpose of the EGM -To seek shareholder approval for capital restructuring, enhanced borrowing capacity, asset security authorization, and expanded inter-corporate investment limits to support future growth.
2. Increase in Authorised Share Capital - Proposal to increase authorised share capital from ₹55 crore to ₹200 crore to enable future capital raising and expansion plans.
3. Amendment to Memorandum of Association - Clause V of the MOA to be amended to reflect the revised authorised share capital.
4. Enhancement of Borrowing Limits (Section 180(1)(c)) - Approval sought to allow the Board to borrow up to ₹3,500 crore, over and above existing statutory limits, for business expansion and corporate purposes.
5. Planned Expansion Strategy - Borrowings intended to support acquisition of up to 30 properties in India and/or overseas, along with general corporate requirements.
6. Authority to Create Charges on Assets (Section 180(1)(a)) - Board authorization to mortgage, pledge, hypothecate, or otherwise encumber company assets to secure borrowings up to ₹3,500 crore.
7. Inter-Corporate Loans, Investments & Guarantees (Section 186) - Approval to increase limits for loans, investments, guarantees, and securities to ₹3,500 crore, beyond prescribed statutory thresholds.
8. Mode of Conducting Meeting - EGM to be conducted via Video Conferencing (VC/OAVM) in compliance with MCA circulars; no physical attendance.
9. E-Voting Framework - Remote e-voting through CDSL from February 10–12, 2026; cut-off date for voting eligibility: February 6, 2026.
10. Governance & Compliance Mechanisms - Appointment of a Scrutinizer for transparent voting, quorum via VC, shareholder query process, and regulatory compliance under Companies Act, 2013.
Source: EGM Notice
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