Change in Directors pursuant to appointment and resignation
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Regency Fincorp's board, at its meeting on 25 March 2026, approved the appointment of Dr. Sanjay Mittal (DIN: 11548754) as an Additional Non-Executive Independent Director. He brings nearly three decades of experience in banking, NBFC operations, investment banking and wealth management, with prior senior roles at Bank of Punjab, IndusInd Bank and ICICI Bank. The board also accepted the resignation of Ms. Saloni Shrivastav (DIN: 07746707) as Non-Executive Independent Director, effective close of business on 25 March 2026, with her letter citing removal from the Remuneration Committee and Stakeholders Relationship Committee. Separately, the board cleared the issuance of secured/unsecured, listed/unlisted redeemable non-convertible debentures of up to ₹500 crore on a private placement basis in FY 2026-27, subject to shareholder approval. To facilitate this, the Articles of Association will be amended to allow debenture trustees to nominate a director on the board. An EGM has been scheduled for 22 April 2026 to seek member approval.
For shareholders, the key takeaways are a planned debt raise of up to ₹500 crore via NCDs in the coming financial year and a director-level shake-up at the independent director level. The debt plan could expand the company's borrowing capacity but also adds to leverage, while the AOA amendment gives debenture trustees direct board influence in case of defaults. The stock impact is likely to be neutral to mildly negative, given the resignation of an independent director and the scale of the proposed debt issuance.