Notice of Extra-Ordinary General Meeting dated April 24, 2026.
Awaiting price reaction for this filing.
Pasupati Fincap Ltd has called an EGM on April 24, 2026, to seek shareholder approval on five special business items. The first is a proposed change of company name from 'Pasupati Fincap Limited' to 'Harmanshi Appliances Co Limited,' suggesting a possible business pivot into the appliances sector. The second is a major capital reduction, where the company plans to cancel 44,65,000 equity shares (95% of existing shares) to set off Rs. 4.46 crore of accumulated losses out of total losses of Rs. 5.35 crore, bringing paid-up capital down from Rs. 4.70 crore to Rs. 23.50 lakh. The third and fourth items seek approval to borrow up to Rs. 100 crore and to make loans, investments, or provide guarantees up to Rs. 100 crore under Sections 180(1)(c) and 186 of the Companies Act. The fifth item is the appointment of Mrs. Rakhi Sharma (DIN: 00333120) as a Non-Executive Independent Director for a 5-year term.
Existing shareholders will see their holdings reduced by approximately 95% as 44.65 lakh shares get cancelled, though the move is aimed at cleaning up the balance sheet by writing off accumulated losses. The proposed name change signals a potential shift in business focus toward appliances, and the Rs. 100 crore borrowing/investment limits give the board significant financial flexibility going forward.