Summary Proceeding of 40th AGM held on Saturday 30th August 2025.
Awaiting price reaction for this filing.
Shri Niwas Leasing and Finance held its 40th AGM on Saturday, August 30, 2025 via video conferencing, lasting about 26 minutes (2:09 PM to 2:35 PM) with 11 shareholders attending remotely. Members adopted the FY2024-25 financial statements and approved the reappointment of Non-Executive Director Surendra Kumar Jain, along with the appointment of VRSK & Associates as the new statutory auditor for a 5-year term. Two new Independent Directors — Ravindra Dilip Davrung and Rekhaben Sanjay Bhanushali — were regularised, and B Kaushik & Associates was named as the secretarial auditor for FY2025-26. The meeting also approved an increase in authorised share capital and amendments to a loan agreement. The most significant resolution was a special business item approving the issuance of up to 4 crore equity shares on a preferential basis to non-promoter category holders against conversion of outstanding unsecured loans.
The 4 crore share preferential allotment will dilute existing shareholders but converts unsecured debt into equity, potentially improving the company's balance sheet. The increase in authorised capital and new auditor/independent director appointments suggest upcoming governance and capital structure changes worth monitoring closely.