The Board has considered and approved Adoption of Memorandum of Association and Articles of Association of the company as per Companies Act, 2013 and amendments in the main object clause of the MOA
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Regency Fincorp's board, at its September 17, 2025 meeting, approved several key changes including the adoption of a new Memorandum and Articles of Association aligned with the Companies Act, 2013. Significantly, the company is altering its main objects clause to enter the digital payments business — covering Prepaid Payment Instruments (PPIs), electronic wallets, prepaid cards, UPI/QR-based payments, payment aggregation, merchant gateways, and allied fintech services. The board also approved the conversion of existing company loans into equity shares, which will dilute current shareholdings once members approve via postal ballot. Mr. Abhimanyu was appointed as both Company Secretary/Compliance Officer and Internal Auditor. All major items, including the MOA/AOA overhaul, change in business objects, and loan-to-equity conversion, require shareholder approval through a postal ballot (e-voting from September 20 to October 19, 2025).
This is a material strategic pivot for investors — the company is repositioning from a traditional finance entity into fintech/digital payments, which could change its growth trajectory but also brings new regulatory risks (RBI oversight for PPI business). The loan-to-equity conversion may dilute existing shareholders' stakes, and all key decisions are pending postal ballot approval, so investors should participate in the voting process.