Appointment of Ms. Shifaly Duggal as Company Secretary and Compliance Officer of Regency Fincorp Limited w.e.f. 23rd May, 2025
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Regency Fincorp's board, meeting on 23rd May 2025, approved the appointment of Ms. Shifaly Duggal (ICSI Membership No. A62298) as Company Secretary and Compliance Officer. Ms. Duggal was additionally appointed as Internal Auditor and as an Authorized Person for determining materiality of events. Separately, the board decided to call the 75% balance amount from remaining warrant-holders (allotted convertible warrants on 28th December 2024) to convert them into equity shares. The board also approved the issuance and allotment of 50 Series-B secured, redeemable, non-convertible debentures of Rs. 10 lakh each, aggregating to Rs. 5 crore.
The Rs. 5 crore NCD issuance will increase the company's debt, while the warrant conversion will lead to equity dilution for existing shareholders. Investors should note that the same individual holding the Company Secretary, Compliance Officer, and Internal Auditor roles may raise questions around independence in internal audit oversight.