News ArticleCentum Electronics Proposes to Double Borrowing Limit to Rs. 1,000 Crore and Secure Loans by Creating Charges on Assets
Shareholders to vote remotely from November 10 to December 9, 2026, on proposals to raise debt and create security charges
Centum Electronics Limited proposes to increase its borrowing limit from Rs. 500 crore to Rs. 1,000 crore and authorize creation of charges on movable and immovable properties as security for these borrowings. The company plans to raise funds via bank and financial institution loans. Shareholders will vote via remote e-voting from Nov 10 to Dec 9, 2026.
Centum Electronics Limited
Corporate Action
Centum Electronics Limited has issued a postal ballot notice seeking shareholder approval to increase its borrowing limit from Rs. 500 crore to Rs. 1,000 crore and to create charges on its movable and immovable properties to secure borrowings.
The company intends to borrow additional funds for its business operations and may raise loans from banks, financial institutions, and other entities in India or abroad.
The resolutions will be passed as special resolutions through remote e-voting starting from 9:00 a.m. IST on November 10, 2026, until 5:00 p.m. IST on December 9, 2026.
Centum Electronics plans to secure the borrowings by creating mortgages, hypothecations, pledges, or liens on present and future movable and immovable assets of the company, as deemed appropriate by the Board of Directors.
The Board is authorized to decide all terms and conditions of the borrowings and the creation of charges, including interest rates, fees, and other costs related to these loans.
The remote e-voting process is managed by KFin Technologies Limited, and the results will be announced within two working days after voting concludes.
Highlights
- Borrowing limit proposed to increase from Rs. 500 crore to Rs. 1,000 crore.
- Funds may be borrowed in any currency from banks, financial institutions, or other entities in India or abroad.
- Creation of charges on movable and immovable properties as security for borrowings.
- E-voting period from November 10, 2026, 9:00 a.m. IST to December 9, 2026, 5:00 p.m. IST.
- Scrutinizer appointed to ensure fair and transparent remote voting process.
Key Data Snapshot
What happened
- Centum Electronics Limited has issued a Postal Ballot Notice for shareholders to approve two special resolutions.
- The first resolution seeks to increase the company's borrowing limit from Rs. 500 crore to Rs. 1,000 crore.
- The second resolution proposes authorizing the Board to create charges on the company's movable and immovable properties as security for borrowings.
- These resolutions enable the company to raise additional funds through debt for business purposes.
Key details
- Borrowings may be obtained in Indian or foreign currency from banks, financial institutions, and other entities.
- The total borrowings, including existing loans but excluding temporary bank loans, will not exceed Rs. 1,000 crore.
- Charges may include mortgages, hypothecations, pledges, and liens on present and future assets.
- The Board is empowered to finalize all terms and conditions relating to borrowings and charges.
- Remote e-voting will be conducted from November 10, 2026, to December 9, 2026, managed by KFin Technologies Limited.
- Results will be announced within two working days of the conclusion of remote e-voting.
Regulatory and governance context
- The postal ballot is conducted pursuant to Sections 108 and 110 of the Companies Act, 2013, and applicable rules.
- The voting complies with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- The Ministry of Corporate Affairs General Circulars permit sending notices electronically and conducting e-voting.
- Mr. S.P. Nagarajan has been appointed as Scrutinizer to oversee the fairness of the voting process.
Highlights
- Borrowing limit proposed to increase from Rs. 500 crore to Rs. 1,000 crore.
- Funds may be borrowed in any currency from banks, financial institutions, or other entities in India or abroad.
- Creation of charges on movable and immovable properties as security for borrowings.
- E-voting period from November 10, 2026, 9:00 a.m. IST to December 9, 2026, 5:00 p.m. IST.
- Scrutinizer appointed to ensure fair and transparent remote voting process.
Disclosures
- Companies Act, 2013 Sections 108, 110, 180(1)(a), 180(1)(c)
- Companies (Management and Administration) Rules, 2014
- SEBI Listing Regulations 2015
- MCA General Circular Nos. 14/2020, 17/2020, 03/2025
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