Dear Sir/Madam, Pursuant to 108 of the Companies Act, 2013 read with Rule 20 of of Companies (Management and administration) Rules, 2014 as amended and regulation 44 od SEBI (LODR) Regulations, ....
Awaiting price reaction for this filing.
Avasara Finance Limited (formerly TRC Financial Services Limited) conducted a Postal Ballot with remote e-voting from July 2 to July 31, 2025. Four resolutions were passed with overwhelming majority. The Ordinary Resolution approved an increase in Authorised Share Capital and amendment to the Capital Clause of the Memorandum of Association. Three Special Resolutions approved the appointment of new Non-Executive Independent Directors: Mr. Vivek Ravindra Kakati, Mr. Nityanand Shankar Nayak, and Ms. Jaya Janardhan. Out of 2,042 shareholders on record date (cut-off June 27, 2025), total votes polled were 32,94,955 (65.89% of outstanding shares), with 99.997% in favour and just 103 votes against across all resolutions. Promoters (holding 32,94,426 shares) voted 100% in favour; only 529 public non-institution votes were polled, of which 80.53% favoured and 19.47% opposed.
Shareholders have greenlit an increase in the company's authorised share capital, giving the board flexibility to issue more shares in the future (possible dilution risk for existing holders). The company has also strengthened its board by adding three new independent directors. The near-unanimous approval suggests strong promoter and shareholder confidence, with negligible public dissent.