Ms. Saloni Srivastav has tendered her resignation from the position of Independent Director of the company.
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Regency Fincorp's board on 25th March 2026 accepted the resignation of Independent Director Ms. Saloni Shrivastav, effective the close of business the same day. To fill the vacancy, the board appointed Mr. Sanjay Mittal, a banking and financial services professional with nearly three decades of experience at Bank of Punjab, IndusInd Bank, and ICICI Bank, as a new Non-Executive Independent Director. The board also approved raising up to ₹500 crore through secured/unsecured, listed/unlisted non-convertible debentures on a private placement basis in one or more tranches during FY 2026-27, subject to shareholder approval. Additionally, the Articles of Association will be amended to allow debenture trustees to appoint a nominee director on the board in case of defaults on interest, security, or redemption. An EGM has been scheduled for 22nd April 2026 to seek member approval for the NCD issuance and the AoA amendment.
The director swap keeps the board's independent director count unchanged. The proposed ₹500 crore NCD issuance represents a sizeable debt raise for this small company, which will increase leverage and interest obligations; the AoA amendment signals the NCD issue is actively being prepared. Retail investors should watch the EGM outcome and the final terms of the NCD tranche.