The required scrutinizers report is attached herewith.
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Kumbhat Financial Services Limited held its 32nd Annual General Meeting on 20 August 2025 via video conferencing, with 165 shareholders attending (6 promoters and 159 public). All 9 resolutions were passed with overwhelming support of over 99.99% of votes polled. Key items approved include adoption of audited financial statements for FY ending 31 March 2025, re-appointment of Sanjay Kumbhat as Managing Director along with an increase in his remuneration, re-appointment of S. Ramabadran as Independent Director, appointment of Joseph and Rajaram as statutory auditors for five years, and appointment of Mundhara & Co as secretarial auditors. On the borrowing side, shareholders cleared three important special resolutions: allowing the company to borrow beyond its paid-up capital and free reserves, creating charges on company assets up to Rs. 37 crores, and raising funds through private placement of secured, redeemable non-convertible debentures (NCDs). Voting turnout was about 22.86% of total shares, with promoters voting their entire 92.80% stake and public institutions casting over 98.8% in favour of most resolutions.
No material surprises for shareholders — all resolutions sailed through with near-unanimous support. The approval to raise funds via NCDs and to create charges up to Rs. 37 crores gives the company meaningful headroom for future borrowings, which signals potential expansion or refinancing plans ahead. The increase in Managing Director remuneration is a governance point worth noting, though it was backed by shareholders.