Fusion Finance Limited has informed the Exchange regarding Outcome of Board Meeting held on Jun 10, 2025.
FUSION · price
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The Board of Directors of Fusion Finance Limited met on June 10, 2025 and approved three key items. First, it appointed M/s BK Khare & Co. as the new Statutory Auditor for a 3-year term (from the 31st AGM to the 34th AGM), subject to shareholder approval. Second, it appointed M/s Navneet K Arora & Co LLP as Secretarial Auditor for a 5-year term (from the 31st AGM to the 36th AGM), also subject to shareholder approval. Third, the Board approved an amendment to Article 35 of the Articles of Association, raising the maximum amount that can be called in a single call on shares from one-fourth (25%) to one-half (50%) of the nominal value of the shares. All three items require shareholder approval. The meeting ran from 6:00 PM to 7:30 PM IST.
The appointment of well-known audit firms is a routine governance item. However, the amendment to the Articles of Association is notable as it gives the company greater flexibility to demand up to 50% of share value in a single call from shareholders, potentially enabling faster capital raises from existing shareholders if needed in the future.