Mahindra & Mahindra Financial Services Limited has informed the Exchange about Outcome of 35th Annual General Meeting - Re-appointment of Independent Director and Appointment of Secretarial Auditor
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Mahindra & Mahindra Financial Services Limited has informed exchanges that all resolutions at its 35th Annual General Meeting (held on 22nd July 2025) were passed by shareholders, including a proposal to raise the company's borrowing limit under Section 180(1)(c) of the Companies Act, 2013 to Rs. 1,50,000 crore. Shareholders also approved the re-appointment of Dr. Rebecca Nugent as an Independent Director for a second term of 5 years, effective 5th March 2026 to 4th March 2031. Additionally, M/s. Makarand M. Joshi & Co., Company Secretaries, has been appointed as the Secretarial Auditor for a 5-year term covering FY 2025-26 to FY 2029-30. The firm had previously served as the company's Secretarial Auditor for FY 2023 and FY 2024.
This is a routine governance update with no negative signals. The sharp increase in the borrowing limit to Rs. 1,50,000 crore signals potential fundraising activity ahead, which is significant for an NBFC but subject to future execution. Re-appointment of an existing independent director and continuity of the secretarial auditor suggest board stability and no governance concerns.