Mufin Green Finance Limited has informed the Exchange regarding Board meeting held on August 28, 2025.
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Mufin Green Finance's board approved raising up to ₹50 crore through listed, secured, non-convertible debentures on a private placement basis. The previous statutory auditor, M/s. Tattvam & Co., resigned, and M/s. Gaur & Associates was appointed to fill the resulting casual vacancy, with a further recommendation for a full 3-year term (9th AGM to 12th AGM in 2028), subject to shareholder approval. M/s. Abhay K & Associates was also appointed as secretarial auditor for a 5-year term spanning FY2025-26 to FY2029-30, pending shareholder nod. The board approved the notice for the 9th Annual General Meeting scheduled for September 29, 2025.
The ₹50 crore NCD raise will bolster the NBFC's lending capital, potentially supporting growth in its green finance book. However, the midterm resignation of the prior statutory auditor is a mild governance red flag worth watching, even though a replacement has been promptly appointed.