Outcome of 41st Annual General Meeting of the company
Price
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Awaiting price reaction for this filing.
Karnavati Finance Limited held its 41st AGM on September 30, 2025, at 3:30 PM IST via video conferencing on Zoom, chaired by Mr. Ashish Batavia. Shareholders approved four resolutions, including adoption of audited financial statements for FY 2024-25, re-appointment of Mr. Raman Morzaria as Whole-Time Director (retiring by rotation), and appointment of M/s. Jitendra Parmar and Associates as secretarial auditor. A special resolution was also passed to increase the company's borrowing powers under Section 180(1)(c) of the Companies Act, 2013, up to INR 250 crores. Remote e-voting was conducted via NSDL from September 27-29, 2025, with no questions raised by shareholders during the meeting. The meeting concluded at 3:59 PM IST, and final voting results are awaited from the scrutinizer's report.
The raise in borrowing ceiling to INR 250 crores meaningfully expands the company's debt-raising capacity, potentially signalling future fundraising, lending expansion, or acquisitions. Routine approvals like director re-appointment and financial statement adoption are procedural and unlikely to move the stock on their own; investors should watch for the scrutinizer's voting results in the next filing.