Voting Results for AGM held on 29th September, 2025
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Banas Finance Ltd held its 42nd AGM on 29 September 2025 via video conferencing, with all 7 resolutions approved by shareholders with the requisite majority. The total voting turnout was around 49.61% of the 8.95 crore outstanding shares, with 37,983 shareholders on record. Key resolutions included adoption of financial statements, appointment of a rotating director, regularisation of Mr. Mayank Borana as Non-Executive Independent Director, appointment of HRU & Associates as Secretarial Auditor, and alteration of the capital clause. Two notable items: an increase in authorised share capital passed with 98.01% support (1.99% dissent from public shareholders), and a special resolution approving material related party transactions up to Rs. 200 crores, in which the promoter group (holding 2.38 crore shares) abstained from voting. E-voting and AGM voting results were combined and scrutinised by HRU & Associates, Practising Company Secretary.
Routine corporate housekeeping with no adverse surprises. The Rs. 200 crore related-party transaction approval is the most material item and should be monitored for actual execution. The authorised share capital increase signals potential future fundraising, which could lead to dilution down the line.