Appointment of CS Raujesh Khandelwal, Qualified Company Secretary and member of ICSI having Membership No. ACS-49419 as the Company Secretary and Compliance Officer of the Company.
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Fundviser Capital's board, meeting on 24th April 2025, approved several key changes. CS Raujesh Khandelwal was appointed as the new Company Secretary and Compliance Officer. Separately, 7,62,500 convertible warrants were converted into equity shares at Rs. 10 face value with a Rs. 48.25 premium. Two appointments raise governance concerns: Mrs. Kriti Jain, wife of CFO Mohit Jain and daughter-in-law of Chairman Prem Krishan Jain, was made Executive Director, and Mrs. Renu Prem Krishan Jain, the Chairman's wife and the CFO's mother, was appointed Deputy General Manager (Business Development). Three existing promoters are also being reclassified from the promoter group to public shareholders.
The promoter reclassification could reduce promoter holding and overhang on the stock, while the conversion of warrants into equity will dilute existing shareholders by about 7.6 lakh shares. The appointment of multiple family members to senior positions may draw governance scrutiny from minority investors.