Appointment of Company Secretary and Compliance Officer
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Awaiting price reaction for this filing.
Regency Fincorp's board, at its meeting on 17th September 2025, approved the appointment of Mr. Abhimanyu (CS membership no. A49176) as both Company Secretary & Compliance Officer and Internal Auditor, effective the same day. Mr. Abhimanyu is a qualified Company Secretary with 7 years of experience and an M.Com degree. The board also approved altering the company's main objects to add businesses around Prepaid Payment Instruments (PPIs), digital wallets, UPI/QR-based payments, payment gateways and allied fintech activities, alongside existing finance and advisory services. Additionally, the board adopted a new set of Memorandum and Articles of Association aligned with the Companies Act, 2013, replacing the older 1956-era versions. The board also proposed converting outstanding loans into equity shares, subject to shareholder approval. All key resolutions will be put to members via postal ballot, with e-voting open from 20th September to 19th October 2025 and results expected by 22nd October 2025.
Shareholders should watch the postal ballot closely: a YES vote will pivot the company into the digital payments/fintech space, while the loan-to-equity conversion will dilute existing shareholdings. The dual role of CS and Internal Auditor for the same person may raise governance eyebrows among investors.