We are hereby intimating the extra ordinary general meeting of the Company scheduled to be held on Thursday, 12th March, 2026 at 12:00 P.M. through video conferencing and other audio visual means.
Awaiting price reaction for this filing.
Pasupati Fincap Ltd has called an Extra-Ordinary General Meeting on 12 March 2026 (12:00 PM, via video conference) to seek shareholder approval on four major items. First, the company proposes to change its name from "Pasupati Fincap Limited" to "Harmanshi Appliances Co Limited," hinting at a pivot from financial services to the appliances business. Second, it plans a steep capital reduction — cancelling 44,65,000 equity shares (about 95% of the 47,00,000 shares) and bringing paid-up capital down from Rs. 4.70 crore to Rs. 23.50 lakh, to write off accumulated losses of Rs. 5.35 crore (Rs. 4.465 crore to be adjusted). Third, it seeks approval under Section 180(1)(c) to borrow up to Rs. 100 crore beyond paid-up capital and free reserves. Fourth, it wants a Rs. 100 crore cap on loans, investments, guarantees and securities under Section 186. The cut-off date for e-voting eligibility is 6 March 2026, with remote e-voting from 9–11 March 2026.
Existing shareholders will see their shareholding reduced to roughly 5% of current levels due to the massive capital cancellation, though this is being done to clean up accumulated losses rather than return cash. The proposed name change signals a complete shift in business identity from finance to appliances, and the new Rs. 100 crore borrowing/investment limits suggest the company may take on significantly more debt or make large investments going forward. Stock price reaction on approval is likely to be volatile given the scale of these structural changes.