Jet Freight Logistics Approves Financials, Director Re-appointment, and Borrowing Limits at 20th AGM
Jet Freight Logistics Limited's 20th AGM on September 23, 2026, saw the approval of FY26 standalone and consolidated financial statements. Members re-appointed Mr. Richard Francis Theknath as Director. Approvals were also granted for increased borrowing limits, creation of charges on assets, and enhanced investment/lending powers.
The re-appointment of a director and approval of financial statements are routine, but the approvals for increased borrowing limits and charges on assets have potential medium-term financial implications for the company's expansion or operational flexibility.
The announcement details the successful passing of all resolutions at the AGM, including financial statement approvals and director re-appointment, indicating smooth governance and shareholder confidence.
Jet Freight Logistics Limited held its 20th Annual General Meeting (AGM) on September 23, 2026, through video conferencing. The company announced that all resolutions presented to the members were passed with the requisite majority. Key approvals included the adoption of the Annual Audited Standalone and Consolidated Financial Statements for the Financial Year ended March 31, 2026. The members also re-appointed Mr. Richard Francis Theknath as a Director, who retired by rotation. Additionally, the company received approval for an increase in its overall borrowing limit under section 180(1)(c) of the Companies Act, 2013, and for the creation of mortgages or charges on the company's assets under section 180(1)(a). Approval was also granted to increase the limit for making investments, providing loans, and giving guarantees in excess of the limits prescribed under section 186 of the Companies Act, 2013.
Mr. Richard Francis Theknath brings over 30 years of experience in the logistics and supply chain industry and has been instrumental in the company's growth and industry leadership. He holds an FMBA from Narsee Monjee Institute of Management Studies and an Executive MBA from IIT Bombay in collaboration with Washington University in St. Louis. The voting results and the Scrutinizer's Report on e-voting for the AGM have been submitted to the stock exchanges.
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