We hereby submit the outcome of Board Meeting held today i.e., Thursday, 26th March, 2026.
Awaiting price reaction for this filing.
The Board of Directors of Pasupati Fincap Ltd met on 26th March 2026 and approved several key items. First, it recommended a Scheme of Capital Reduction to cancel 44,65,000 equity shares (about 95% of the existing 47,00,000 shares) on a pro-rata basis to set off accumulated losses of about ₹5.35 crore. After the reduction, paid-up capital will shrink from ₹4.70 crore to ₹23.50 lakh. Second, the Board approved changing the company name from Pasupati Fincap Limited to Harmanshi Appliances Co. Limited. Third, Mrs. Rakhi Sharma (DIN: 00333120) was appointed as an Additional Independent Director for a 5-year term. An EGM has been scheduled for 24th April 2026 to seek shareholder approval for all these items. Notably, a similar capital reduction proposal was rejected by shareholders at an earlier EGM on 12th March 2026, and the Board is now re-submitting the same plan.
Shareholders face a near-95% reduction in the number of shares they hold, though their percentage ownership stays the same. While the move cleans up the balance sheet by writing off accumulated losses, it also signals that the company is loss-making and undergoing a significant restructuring. The name change to Harmanshi Appliances suggests a potential pivot in business focus. Shareholders should review the scheme carefully and vote at the EGM on 24th April 2026.