The board has considered and approved revision in terms of loan agreements with various entities
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Regency Fincorp's board, meeting on 17 September 2025, appointed Mr. Abhimanyu as both Company Secretary & Compliance Officer and Internal Auditor, effective the same day. It approved altering the main objects clause of the Memorandum of Association to add Prepaid Payment Instruments (PPIs), digital wallets, prepaid cards, UPI/QR payments, payment aggregation, and merchant payment gateways, alongside existing general and housing finance activities. The board also approved adopting a new MOA and Articles of Association aligned with the Companies Act 2013, replacing the older Act 1956 versions. Importantly, the board cleared converting existing company loans into equity shares, subject to shareholder approval. A postal ballot has been scheduled, with e-voting from 20 September to 19 October 2025 and results expected by 22 October 2025.
The loan-to-equity conversion will dilute existing shareholders and change the company's capital structure, requiring shareholder approval via postal ballot. The MOA amendment signals a strategic pivot toward digital payments and fintech, which could reshape the business but also faces RBI regulatory requirements for PPI licensing. The dual role for the new Company Secretary as Internal Auditor may raise governance concerns about audit independence.