Please find enclosed Notice of Postal Ballot
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Golden Legand Leasing & Finance Ltd is seeking shareholder approval via postal ballot (e-voting from April 8 to May 7, 2025) for three items. First, it proposes to increase the authorized share capital from Rs. 35 crore to Rs. 50 crore (divided into 5 crore equity shares of Rs. 10 each), to provide headroom for future funding and expansion. Second, it seeks to re-appoint Ms. Divya Singh Kushwaha (DIN: 07286908) as Managing Director for another 5 years from March 28, 2025; she drew Rs. 80 lakhs in FY24 and is the daughter of Whole-Time Director Mr. Lalit Singh. Third, it proposes to appoint Ms. Neha Kargeti (DIN: 10940282) as a Non-Executive Independent Director for 5 years (Feb 14, 2025 to Feb 13, 2030). The company is in digital lending and fintech with FY24 revenue of Rs. 6.46 lakh and a loss after tax of Rs. 1.73 crore.
For shareholders, the authorized capital hike does not dilute existing holdings immediately but creates room for a future share issue that could dilute equity. The MD re-appointment (a related party of the Whole-Time Director) and the new Independent Director appointment are governance matters; the Independent Director addition is a positive step for board composition, while results are expected by May 9, 2025.