Outcome of Board Meeting held on 15th day of January, 2026.
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The board approved the regularization and appointment of Mr. Rama Nand Gupta (DIN: 03397154) as a Director and Whole Time Director of the company, subject to shareholder approval at an upcoming Extraordinary General Meeting. Gupta is a Delhi University graduate (SRCC) with 32 years of experience at a PSU bank, specializing in credit, risk management, and business profitability. The board also approved increasing the authorized share capital from Rs. 20 crore (4 crore equity shares of Rs. 5 each) to Rs. 35 crore (7 crore equity shares of Rs. 5 each). An EGM has been scheduled for February 9, 2026 to seek shareholder approval for these resolutions, with February 4, 2026 as the e-voting cut-off date.
The appointment brings in an experienced banking and credit management professional into an executive leadership role, which may strengthen the company's financial and operational decisions. The hike in authorized share capital creates headroom for potential future fundraising or stock issuances, though any actual share issuance would require further board/regulatory approvals and could lead to dilution for existing shareholders.