NRB Bearing Limited clarifies approval request for loans and guarantees at upcoming AGM
NRB Bearing Limited has provided clarification regarding Agenda Item No. 4 of the notice for its 61st Annual General Meeting (AGM), scheduled for Wednesday, July 29, 2026. The resolution concerns the company's enabling approval to provide loans, guarantees, or security under Section 185 of the Companies Act, 2013.The proposed Special Resolution is intended solely to grant NRB Bearing Limited the flexibility required to extend such financial assistance when necessary. This includes granting loans, providing guarantees, or offering security in favor of its subsidiaries, associates, joint ventures, and other group entities.
To qualify for this enabling approval, the company must hold a direct or indirect equity share capital interest of 51% or more in the concerned entity or exercise a controlling interest. The funds are intended to be used for legitimate business purposes and must comply with all applicable laws.
NRB Bearing Limited has also explicitly clarified that the sought-after approval is not designed or intended to facilitate the extension of any loan, guarantee, or security in favor of any promoter or promoter group entity. This clarification aims to provide additional context and clarity to shareholders regarding the proposed resolution.
NRBBEARING Stock Price Movement
Shares of NRB Bearing Limited closed up today, gaining 1.03% and settling at ₹397.65 in post-market trading. The stock traded within a solid range during the session, bouncing from a low of ₹382.40 to hit an intraday high of ₹399.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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