Submission of disclosure for change in designation of Mr. Sarfaraz Mallick w.e.f 29th March, 2025.
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Regency Fincorp Ltd informed shareholders of four key items approved at an EGM on 24th April 2025. First, Mr. Sarfaraz Mallick (DIN: 10255433) was redesignated from Non-Executive Non-Independent Director to Executive Director, effective 29th March 2025, with a fixed remuneration of Rs. 12 lakh per annum. Second, shareholders approved the issuance of secured/unsecured, listed/unlisted redeemable non-convertible debentures (NCDs) of up to Rs. 200 crore via private placement during FY 2025-26. Third, revisions to existing loan agreements with various entities were approved. Fourth, the company ratified the contents of an earlier EGM notice dated 3rd October 2024 after BSE flagged that the valuation report link was missing and beneficial owner details for allottee Vibhor Garg HUF were wrongly marked as 'Not Applicable' in the original notice.
The designation change strengthens the executive leadership at a relatively small NBFC and adds a fixed salary commitment of Rs. 12 lakh annually. The Rs. 200 crore NCD approval gives the company significant fundraising headroom in FY 2025-26, which could boost lending capacity. The EGM notice ratification highlights a minor compliance lapse that was corrected, with no material penalty, but investors should note past disclosure weaknesses.