In compliance with Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform Stock Exchange that the ....
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The board of Banas Finance approved several items at its meeting on 29th August 2025, including the Director's Report and Secretarial Audit Report for FY 2024-25, the notice for the 42nd Annual General Meeting to be held via video conferencing, and the re-appointment of a director retiring by rotation. A new Non-executive Independent Director, Mr. Mayank Borana (a Chartered Accountant with over 8 years of experience, currently at Cupid Limited), was appointed for a five-year term starting 29th August 2025. M/s. HRU & Associates was re-appointed as Secretarial Auditors for a five-year term until FY 2030-31, and M/s. HRU & Associates was also named as the scrutinizer for the upcoming AGM. Notably, the board approved increasing the authorized share capital from Rs. 103.30 crore to Rs. 203.30 crore (equity shares rising from 10.33 crore to 20.33 crore shares of Rs. 10 each), subject to shareholder approval, which will also require amending the Memorandum of Association.
The nearly doubling of authorized share capital gives the company significant headroom to raise fresh equity in the future, which could lead to potential dilution for existing shareholders depending on how it is utilized. The induction of a qualified CA with listed-company experience strengthens board expertise, while the routine nature of the other items signals standard governance activity.