Please find attached the Postal Ballot Notice dated March 27, 2025, for seeking approval of the Members for special business, as set out in the Notice.
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Som Datt Finance Corporation Ltd has issued a Postal Ballot Notice dated March 27, 2025, seeking shareholder approval for three special resolutions. The first resolution proposes amending the Articles of Association by inserting a new Article 35A to authorize the issuance of various securities including rights issues, preferential allotments, QIPs, and GDRs. The second and third resolutions seek to raise the company's borrowing limit and the limit for creating charges/mortgages on assets, both up to INR 50 crore (from the existing threshold under Section 180 of the Companies Act). E-voting is open from April 9, 2025 to May 8, 2025, with results to be declared by May 10, 2025, via NSDL's e-voting platform.
If approved, these resolutions give the board wide flexibility to raise equity capital through multiple instruments and to borrow up to INR 50 crore, which could dilute existing shareholders if equity is issued. For a small NBFC, this signals intent to scale operations or fund growth, though actual fundraising will depend on future board decisions and market conditions.