Fone4 Board Approves AGM Notice and Authorizes Limits for Borrowing and Lending
Fone4 Communications (India) Ltd held its Board of Directors meeting on August 07, 2026. During the meeting, the company approved several key matters related to its future financing and corporate governance structure.The Board reviewed and sanctioned the notice for the 12th Annual General Meeting (AGM), which is scheduled to take place on Monday, August 31, 2026. The AGM will be conducted through Video Conferencing (VC) or Other Audio-Visual Means (OAVM). Furthermore, the Board approved the Director's Report and all applicable annexures for the financial year ended March 31, 2026.
Resolutions on Financial Powers
The meeting saw significant resolutions passed regarding the company's borrowing and lending capacities. The Directors approved a proposal requiring members' approval under Section 180(1)(c) of the Companies Act, 2013, to authorize the Board to borrow monies from time to time in excess of the aggregate of paid-up share capital, free reserves, and securities premium. This borrowing activity is conditional on the total outstanding borrowings not exceeding Rs. 100 Crores at any given point.Additionally, the Board approved a proposal seeking members' consent under Section 186 of the Companies Act, 2013. This resolution authorizes the Board of Directors to grant loans, provide guarantees, offer securities, and make investments from time to time, up to an aggregate limit not exceeding Rs. 100 crores.
Appointment of Scrutinizer Confirmed
To ensure a transparent process for the upcoming AGM, the meeting approved the appointment of Mr. Amit Saxena from M/s Amit Saxena & Associates, Practicing Company Secretaries, based in New Delhi. He has been appointed as the Scrutinizer for the remote e-voting that will be conducted during the Annual General Meeting.The Board meeting commenced at 10:30 A.M. and concluded by 11:00 A.M., covering these operational and financial decisions for Fone4 Communications (India) Ltd.
Stock Price Movement
Fone4 Communications (India) Ltd settled on Tuesday at ₹5.24, declining 0.38% in post-market trading. The shares traded completely flat throughout the session, with the intraday high and low both registered at that single price point.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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