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Shareholders of Som Datt Finance Corporation Ltd approved three special resolutions via postal ballot (e-voting held April 9 to May 8, 2025; results declared May 9, 2025). First, the Articles of Association were amended by inserting new Article 35A, giving the company broad flexibility to issue further shares or financial instruments through rights issues, preferential allotments, private placements, QIPs, GDRs, ESOPs, sweat equity, and other modes permitted under the Companies Act. Second, the company's borrowing limit under Section 180(1)(c) was raised to ₹50 crore. Third, the limit under Section 180(1)(a) for creating charges, mortgages, and pledges on the company's movable and immovable assets was also raised to ₹50 crore.
These approvals give the company significantly expanded firepower to raise fresh capital and borrow up to ₹50 crore each through equity or debt routes. Shareholders should watch for potential equity dilution if new shares are issued, but the changes also signal management's intent to grow the business or strengthen its balance sheet.