NRB Bearings Limited has issued a clarification regarding Agenda Item No. 4 of the Notice convening the 61st Annual General Meeting (AGM) of the Company to be held on Wednesday, July 29, 2026.
The clarification specifically addresses the Special Resolution relating to approval for giving loans or providing guarantees or security under Section 185 of the Companies Act, 2013.
The Company clarifies that the approval sought is an enabling approval intended to provide the Company with flexibility to extend loans, guarantees, or security, as and when required, exclusively in favour of:
- Its subsidiaries
- Associates
- Joint ventures
- Other group entities
Eligibility for such financial assistance is restricted to entities in which the Company holds, directly or indirectly, 51% or more of the equity share capital or otherwise exercises a controlling interest.
The Company explicitly states that the proposed approval is not intended to facilitate the extension of any loan, guarantee, or security in favour of any promoter or promoter group entity.
Any transaction undertaken pursuant to this approval shall be in compliance with:
- Applicable provisions of the Companies Act, 2013
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Other applicable laws
The clarification was issued to provide additional context and clarity to shareholders regarding the proposed resolution.
The document is signed by Khyati Hemang Danani, Company Secretary & Compliance Officer (Membership no. A21844), on July 24, 2026, at 17:42:57 IST.