Northern Arc Capital AGM Approves ESOP Increase, Director Reappointments

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Northern Arc Capital Limited convened its 17th Annual General Meeting (AGM) on August 25, 2025, via video conferencing, with 58 shareholders in attendance. Key resolutions included the reappointment of directors and approval for an increase in employee stock options.

Mr. P.S. Jayakumar, Chairman and Independent Director, presided over the meeting, welcoming the attendees. The Company Secretary confirmed the availability of all relevant documents for electronic inspection.

The AGM addressed several key items:

• Adoption of the audited annual standalone and consolidated financial statements for the year ended March 31, 2025.
• Reappointment of Mr. Michael Jude Fernandes as a director.
• Appointment of Secretarial Auditors for the Company.
• Approval for the creation of charges on the company's assets under Section 180(1)(a) of the Companies Act, 2013.
• Approval for increasing borrowing powers beyond the paid-up share capital, free reserves, and securities premium under Section 180(1)(c) of the Companies Act, 2013.
• Approval for the offer and issue of Non-Convertible Debentures on a private placement basis.
• Approval for increasing ESOP Options under the Northern Arc Employee Stock Option Plan 2016.
• Revision of remuneration for Mr. P S Jayakumar as a Non-Executive Independent Director and Chairman.
• Revision of managerial remuneration for Mr. Ashish Mehrotra, Managing Director & Chief Executive Officer.

During the Question & Answer session, four registered shareholders sought clarifications, which were addressed by Mr. Ashish Mehrotra, Managing Director & CEO.

The meeting commenced at 11:00 A.M. and concluded at 11:47 P.M. E-voting was extended for an additional 15 minutes post-AGM.

Prakash Chandra Panda, Company Secretary & Compliance Officer, confirmed the proceedings.