Announcement under Regulation 30 (LODR) for appointment of Secretarial Auditor and Non Executive Independent Director
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Banas Finance Ltd's board, at a meeting on 29 August 2025, approved three key items. First, M/s. HRU & Associates was appointed as Secretarial Auditor for a 5-year term, running from the current AGM until the AGM in FY 2030-31. Second, Mr. Mayank Borana, a qualified Chartered Accountant with over 8 years of experience in taxation, audit and financial reporting (currently at Cupid Limited), was appointed as an Additional Non-Executive Independent Director for 5 years, subject to shareholder approval. Third, the company approved a near-doubling of its authorised share capital from Rs. 103.3 crore (10.33 crore equity shares) to Rs. 203.3 crore (20.33 crore equity shares of Rs. 10 each), also subject to shareholder approval.
These are largely governance housekeeping steps for retail shareholders. The capital hike creates headroom for potential future fundraising or share issuance, which could dilute existing shareholders if the new shares are eventually issued. The new independent director with a CA background adds financial expertise to the board.