Lakshmi Finance & Industrial Corporation Limited has informed the Exchange regarding Change in Director(s) of the company.
LFIC · price
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On the reaction day the stock moved 6.7 pts more than Nifty Microcap 250 and 7.0 pts more than its Investment Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The board of Lakshmi Finance & Industrial Corporation, at its meeting on August 11, 2025, approved the re-appointment of Shri. K. Harishchandra Prasad (DIN: 00012564) as Managing Director effective April 1, 2026, subject to shareholder approval. Harishchandra Prasad, aged 72, has been serving as MD since May 11, 1985 — nearly four decades — and his current term ends March 31, 2026. He holds 90,000 equity shares in the company. The re-appointment is being made in line with the Companies Act, 2013 and SEBI LODR Regulations, and he is the father of existing director Sri Kapil Prasad.
This is a routine continuity event with the long-serving MD getting another term, so it is unlikely to materially move the stock. Shareholders will need to approve the re-appointment at a general meeting before it takes effect.