Frontline Financial Services Limited held a Board of Directors meeting on Tuesday, 1 September 2026 at the Registered Office of the Company. The meeting commenced at 03:30 PM and concluded at 05:30 PM.
Key Matters Approved and Noted:
1. Annual General Meeting Approval
The Board approved the draft Notice convening the Annual General Meeting (AGM) of the Members of the Company to be held on Wednesday, 30 September 2026 at 3:00 PM at the Registered Office of the Company.
2. Annual Report Approval
The Board approved the draft Annual Report along with the Directors' Report of the Company for the financial year ended 31 March 2026.
3. Company Name Change
The Board approved the proposal to change the company name from "Frontline Financial Services Limited" to "Aaryavart Enterprise Limited". This approval is subject to availability of the proposed name and compliance with applicable provisions of the Companies Act 2013, SEBI Listing Regulations, and other applicable laws.
The Board further approved consequential alteration and adoption of a new set of Memorandum of Association, subject to approval of Members by way of Special Resolution, approval of the Registrar of Companies, and compliance with Regulation 45 of the SEBI Listing Regulations.
4. Promoter Reclassification Request
The Board considered a request from Mr. Tushar Shashikant Shah, currently classified as part of the Promoter/Promoter Group, seeking reclassification to Public category under Regulation 31A of the SEBI Listing Regulations.
Promoter Details:
- Name: Mr. Tushar Shashikant Shah
- Current Category: Promoter/Promoter Group
- Proposed Category: Public
- Equity Shares Held: 1,07,400 Equity Shares
- Percentage of Shareholding: 1.82%
The Board noted that the reclassification shall not take effect merely by virtue of Board approval and shall be subject to completion of the process prescribed under Regulation 31A, including satisfaction of eligibility conditions, receipt of requisite no-objection from Recognised Stock Exchange(s), and Members' approval within the prescribed timeline.
5. Resignation of Independent Director
The Board noted the resignation of Ms. Sejal Shah (DIN: 07489588), Independent Director of the Company, via resignation letter dated 27 August 2026. Her resignation took effect from 27 August 2026.
The Board noted the detailed reasons for resignation furnished by the Independent Director and confirmed that there are no other material reasons for the resignation other than those stated in the resignation letter.
6. E-Voting Facility Approval
The Board approved the proposal to provide e-voting facility to Members for the ensuing Annual General Meeting scheduled for 30 September 2025. The e-voting facility will commence from 27 September 2025 at 09:00 AM and remain open until 29 September 2025 at 05:00 PM.