We hereby intimate the appointment of Mrs. Rakhi Sharma as Non-Executive and Independent Director with effect from 26th March, 2026.
Awaiting price reaction for this filing.
Pasupati Fincap Ltd's board approved a scheme to cancel 44,65,000 equity shares (out of 47,00,000), reducing paid-up capital from ₹4.70 crore to ₹23.50 lakh — a roughly 95% cut — to write off ₹4.46 crore of accumulated business losses. The cancellation will be done on a pro-rata basis, so each shareholder's percentage ownership stays the same, just with far fewer shares. A similar proposal was rejected by shareholders at an EGM on 12th March 2026, and the board is now re-submitting it for approval at a new EGM on 24th April 2026. The board also approved renaming the company 'Harmanshi Appliances Co. Limited' and appointed Mrs. Rakhi Sharma (DIN: 00333120) as an Additional Non-Executive Independent Director for a 5-year term.
The 95% capital reduction is a balance sheet cleanup, not a value transfer — shareholders will own the same proportional stake in a much smaller share base, and accumulated losses on the books will drop sharply, improving future financial ratios. The name change to 'Harmanshi Appliances' hints at a possible shift in business focus away from the current 'Fincap' identity. Shareholders should watch the 24th April 2026 EGM closely, as the capital reduction needs their fresh approval after the earlier rejection.