Proceedings of 31st Annual General Meeting of the Company held on 30th September, 2025.
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Prism Finance Ltd held its 31st AGM on 30th September 2025 via video conferencing from 12:00 noon to 12:15 PM, chaired by Independent Director Ms. Rajkumari Udhwani. Two ordinary resolutions were transacted: adoption of audited financial statements for FY 2024-25, and appointment of M/s Nishant Pandya & Associates as Secretarial Auditor for five years (FY 2025-26 to 2029-30). Members were informed that statutory auditors M/s H.K. Shah & Co. issued a qualified opinion, flagging that the company holds Rs. 100 lakh in unquoted shares of a company whose net worth was negative as per its FY23 audited financials, and no impairment has been recognized. The Secretarial Auditor also flagged that the company does not have a Managing Director, as required under Section 203 of the Companies Act, 2013. E-voting and remote e-voting facilities were provided to shareholders.
Shareholders should note the qualified audit opinion and the undisclosed potential impairment of a Rs. 100 lakh investment, along with the ongoing non-compliance on appointment of a Managing Director — these are governance and asset-quality red flags that could weigh on investor confidence.