Consolidated Scrutinizer Report EGM Held on January 16, 2026
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PMC Fincorp held its 1st Extraordinary General Meeting (EGM) of FY2025-26 on January 16, 2026 via video conferencing. Two resolutions were passed with overwhelming majority — about 99.9997% votes in favour on both. Resolution 1 (Ordinary) approved the appointment of M/s Sunil K. Gupta & Associates as the new Statutory Auditor to fill the casual vacancy caused by the resignation of M/s Pankaj Gupta & Co. Resolution 2 (Special Resolution) approved the issuance of up to 9,00,00,000 (9 crore) Fully Convertible Warrants to persons/entities belonging to the non-promoter category on a preferential basis. Promoters holding 14.87 crore shares voted 100% in favour, and only 630 shares were voted against each resolution out of around 18.97 crore votes polled (26.64% of total share base of 71.21 crore shares).
The auditor change is routine, but the approved preferential issue of 9 crore convertible warrants to non-promoters is a meaningful capital-raise plan that, upon conversion, could dilute existing shareholders' stake by roughly 12-13% of current equity. Shareholders should watch for the issue price, allotment terms and eventual conversion timing.