Corrigendum to the Notice of Extra-ordinary General Meeting dated 29th March, 2025
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Regency Fincorp has issued a corrigendum to fix a typo in its EGM notice — the year 2024 was mistakenly written as 2025 in Item No. 4 (related to ratification of a prior EGM notice dated 3rd October 2024). No other changes have been made. The 1st EGM for FY 2025-26 is scheduled for 24th April 2025 at 12:30 PM via video conferencing. Key items on the agenda include: (1) changing Mr. Sarfaraz Mallick's designation from Non-Executive to Executive Director with a remuneration of Rs. 12 lakh per annum, (2) approval to issue secured/unsecured redeemable non-convertible debentures (NCDs) of up to Rs. 200 crore on a private placement basis, and (3) revision of terms of loan agreements with various entities, including possible conversion of loans into equity shares. Regency Fincorp is a non-banking financial company (NBFC) that reported revenue of Rs. 15.19 crore and profit of Rs. 1.97 crore in FY 2023-24.
The corrigendum itself is a minor administrative correction with no material impact. However, the underlying EGM items are more significant — shareholders will vote on a Rs. 200 crore NCD borrowing plan and on allowing loan-to-equity conversion, which could dilute existing shareholders' stake and alter the company's capital structure.