We hereby intimate the non-receipt of requisite majority on the special businesses as set before the members of the Company at its EGM held on March 12, 2026.
Awaiting price reaction for this filing.
Pasupati Fincap Ltd held an Extra Ordinary General Meeting on March 12, 2026, via video conferencing, where all four special resolutions on the agenda failed to secure the required majority from shareholders through e-voting. The rejected proposals included: (1) changing the company's name and amending the Memorandum and Articles of Association, (2) a scheme of arrangement for reduction of share capital, (3) borrowing powers exceeding paid-up capital and free reserves under Section 180(1)(c), and (4) authorization for loans, investments, guarantees, and security under Section 186 of the Companies Act. The company stated it will not pursue these resolutions at this time and may re-introduce them at a later date with prior intimation to the stock exchange.
Shareholders have collectively rejected key corporate proposals, including a possible share capital reduction and expanded borrowing powers, signalling dissent with management's restructuring plans. This could delay or derail the company's planned capital and strategic changes, adding uncertainty for investors.