SBFC Finance Limited has informed the Exchange regarding Appointment of Mr Leroy James Langeveld as Non- Executive Nominee Director of the company w.e.f. April 26, 2025.
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SBFC Finance's board, meeting on April 26, 2025, approved the appointment of Mr. Leroy James Langeveld as an Additional Non-Executive Nominee Director, representing promoter SBFC Holdings Pte. Ltd, subject to shareholder approval. The board also appointed M/s. Parikh & Associates as the secretarial auditor for five years (FY 2025-26 to FY 2029-30) and approved amendments to two ESOP stock option policies. Additionally, the board recommended raising up to Rs. 3,000 Crore through Non-Convertible Debentures on a private placement basis, subject to shareholder approval. Three existing employees were designated as Senior Management Personnel. BSE levied a Rs. 5,000 fine on the company for a compliance lapse under Regulation 50(1)(d), for which the company has requested withdrawal.
The Rs. 3,000 Crore NCD fundraising plan could slightly dilute existing debtholders' seniority but supports the company's growth lending capacity. The new promoter-nominee director strengthens promoter representation, and the ESOP policy amendments may improve employee retention. The BSE fine is immaterial at Rs. 5,000.