Notice of Postal Ballot dated February 13, 2026
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Awaiting price reaction for this filing.
Richfield Financial Services Ltd (BSE: 539435) has issued a Postal Ballot Notice dated February 13, 2026, seeking shareholder approval via remote e-voting (February 28 to March 29, 2026). Three special resolutions are proposed: (1) appointment of Mr. Peeyus A Kottam (BA LLB, President of Kerala High Court Advocates' Association) as Non-Executive Independent Director for 3 years from February 9, 2026; (2) approval of annual remuneration up to Rs. 30 Lakhs for Mr. Vadasseril Chacko Georgekutty, the Managing Director and promoter (holding 15.84% stake), effective April 1, 2026; and (3) alteration of Articles of Association to add a clause allowing debenture trustees to nominate a director, as required under SEBI norms for the company's upcoming public issue of Non-Convertible Debentures. For FY25, the company reported total income of Rs. 5.03 crore (up from Rs. 1.97 crore in FY24) but profit after tax dropped sharply to Rs. 12.54 lakh from Rs. 64.78 lakh in FY24. The Scrutinizer is CS Adithya Sri Hari, and results will be declared on or before March 30, 2026.
Shareholders should review the director appointment, MD remuneration (which applies even in case of inadequate profits), and the AOA amendment that gives debenture trustees a right to nominate a director if the company defaults on NCD payments. The resolutions are administrative in nature and unlikely to materially affect stock price, but indicate the company is preparing to raise funds via NCDs.