Outcome of Board Meeting held today on Friday, 29th day of August 2025
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The board of My Money Securities Ltd met on August 29, 2025 and approved several key items. It recommended re-appointing Mrs. Rajni Seth as director (retiring by rotation) and Mr. Vikas Seth as Managing Director. It also approved the continuation of Mrs. Rajni Seth as Non-Executive Non-Independent Director beyond the age of 75 years. M/s. Sarika Jain and Associates were appointed as Secretarial Auditors. The board recommended entering into multiple material related party transactions with promoter group companies, with companies sharing the same director/promoter, and a lease and rent agreement specifically with promoter Mr. Sanjai Seth and his wife Mrs. Renu Seth, all subject to shareholder approval. The 34th Annual General Meeting was fixed for September 28, 2025 via video conferencing, with the e-voting window from September 25 to 27, 2025.
The concentration of promoter family members on the board, the continuation of a director past age 75, and the breadth of related party transactions involving the promoter family may raise corporate governance concerns for minority shareholders. Investors should watch how these RPTs are structured and voted on at the upcoming AGM, as they directly benefit the promoter group.