The required scrutinizers report is attached herewith.
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Kumbhat Financial Services held its 32nd Annual General Meeting on 20 August 2025 via video conferencing, lasting from 10:00 AM to 10:48 AM. A total of 9 resolutions were put to vote, and all 9 were passed with overwhelming support — each receiving over 99.99% votes in favour. Key items approved include adoption of the audited financial statements for FY ending March 2025, reappointment of Sanjay Kumbhat as Managing Director (he retires by rotation), appointment of M/s Joseph and Rajaram as statutory auditors for five years, and reappointment of S. Ramabadran as Independent Director for five years. Shareholders also cleared special resolutions allowing the company to borrow beyond paid-up capital and free reserves, create charges on assets up to Rs.37 crore, raise funds via private placement of secured redeemable non-convertible debentures (NCDs), and increase the managerial remuneration of the Managing Director. Voting turnout was modest at about 22.86% of outstanding shares (12.18 lakh out of 53.28 lakh shares), with promoters voting in full and only a small slice of institutional shareholders participating.
The approvals to borrow beyond existing limits, create charges on assets up to Rs.37 crore, and privately place secured NCDs indicate the company is gearing up for significant fund-raising — likely to support lending growth or refinance existing debt, which could expand the balance sheet. Shareholders should note that the MD's remuneration increase was passed in a meeting where promoter group was interested, though turnout from non-promoter shareholders was very thin, limiting the breadth of independent approval.