Cura Technologies appoints new managing director, lifts borrowing cap
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Cura Technologies has installed a veteran managing director and cleared a borrowing ceiling boost to ₹25 crore, with an immediate ₹4 crore unsecured loan facility.
- Leadership change: Mr. Saraswathula Sivaramakrishna Mohan Babu appointed Managing Director and Additional Director for a 3‑year term (effective 27 Mar 2026), holding 2,44,702 Cura shares.
- Financing authorisations: Board approved an unsecured loan facility of up to ₹4 crore from directors, NBFCs or inter‑corporate sources, and a proposal to raise overall borrowing limits to ₹25 crore (subject to shareholder approval).
- Section 186 ceiling: A separate ceiling of ₹10 crore for loans, guarantees, securities or investments will be sought at the upcoming extraordinary general meeting.
- Governance updates: New Articles of Association adopted under the Companies Act, 2013; an extraordinary general meeting scheduled for 24 Apr 2026 (video‑conference) to obtain member approvals.
- Asset review: Board launched a review of assets and liabilities of Catalog IT Solutions Pvt Ltd (Transferor Company).
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