Meeting Details

The 29th Annual General Meeting was held on Wednesday, September 16, 2026, at 04:30 P.M. (IST) through Video Conferencing (VC) or Other Audio Visual Means (OAVM). The meeting was conducted in compliance with circulars issued by the Ministry of Corporate Affairs (MCA) and the provisions of the Companies Act, 2013. The live webcast of the proceedings was provided by MUFG Intime India Private Limited (Formerly known as Link Intime India Private Limited).

Attendees

The following Directors and Key Managerial Personnel were present through VC:

  • Mrs. Aneesha Baid (Whole-time Director)
  • Mrs. Prem Devi Baid (Whole-time Director)
  • Mr. Surendra Mehta (Independent Director and Chairman of the Nomination & Remuneration Committee and Stakeholders' Relationship Committee)
  • Mr. Brijmohan Sharma (Independent Director)
  • Mr. Anil Balkrishna Patwardhan (Independent Director and Chairman of the Audit Committee)
  • Mr. Kalyanaraman Chandrachoodan (Independent Director)
  • Mr. Sourabh Mishra (Company Secretary & Chief Compliance Officer)
  • Mr. Gopal Krishan Sain (Chief Financial Officer)

The meeting was attended by 65 members including authorized representatives. The Statutory Auditors (M/s S.C. Bapna & Associates, represented by Ms. Deepika Nalwaya) and Secretarial Auditors (M/s V.M. & Associates, represented by Mr. Manoj Maheshwari) also joined the meeting.

Chairman's Address and Business Highlights

Mr. Deepak Baid, Managing Director, was elected as Chairman of the Meeting. The Chairman highlighted the company's significant milestone of listing its equity shares on NSE and BSE on August 05, 2025. He presented key financial and operational achievements for FY 2025-26:

  • Assets under Management (AUM) grew by 27.35% to ₹1,626.26 Crore
  • Disbursements increased by 14% to ₹821 Crore
  • Branch network expanded to 176 branches across six states
  • Total income increased by 29% to ₹319.6 Crore
  • Profit after tax grew by 38% to ₹49.68 Crore
  • Capital Adequacy Ratio stood at 26.12%
  • Gross Stage-3 assets were at 2.13%
  • Cost of borrowing improved from 11.48% to 10.80%
  • Credit rating upgraded to ACUITE A (Stable) by Acuité Ratings & Research Limited

Proposed Resolutions

The Company Secretary apprised shareholders of the four agenda items set forth in the Notice of the AGM dated August 12, 2026:

Ordinary Business:

1. To adopt the audited financial statements of the Company for the financial year ended March 31, 2026, together with the Report of the Board of Directors and Auditors thereon (Ordinary Resolution)

2. To appoint a director in place of Mrs. Aneesha Baid (DIN: 07117678) who retires by rotation and being eligible, has offered herself for re-appointment (Ordinary Resolution)

Special Business:

3. To approve the limit for issuance of Non-Convertible Debentures on private placement basis (Special Resolution)

4. To consider and approve the appointment of M/s V.M. & Associates, Company Secretaries as Secretarial Auditors of the Company (Ordinary Resolution)

Voting Process and Scrutinizer Appointment

The remote e-voting period commenced on Saturday, September 12, 2026 at 09:00 A.M. (IST) and ended on Tuesday, September 15, 2026 at 05:00 P.M. (IST). Members who had not cast their vote through remote e-voting were given an opportunity to vote during the AGM through e-voting facility.

CS Manoj Maheshwari, Practicing Company Secretary (Membership FCS - 3355), was appointed as scrutinizer by the Board of Directors to scrutinize the remote e-voting process and e-voting during the AGM in a fair and transparent manner.

The statutory registers, certificates, and other documents required under various laws were made available electronically for inspection by members.

Compliance and Reporting

The voting results (remote e-voting and e-voting at the AGM) along with the Scrutinizer's report were to be communicated to NSE, BSE and MUFG Intime India Private Limited within two working days of the conclusion of the meeting (on or before September 18, 2026). The same was to be uploaded on the company's website (www.lifc.co.in), NSE, BSE and MUFG Intime India Private Limited's platforms as per statutory provisions and guidelines.

Shareholder Interaction

Registered speaker shareholders were provided opportunity to ask questions or express their views on various issues relating to future business plans, financial performance, asset quality, customer services, and existing products. The Chairman responded to the queries raised and addressed concerns to their satisfaction.

Conclusion of Meeting

An e-voting period of 15 minutes was provided to shareholders during the meeting, and the requisite quorum remained present throughout. All business items were duly transacted. The meeting concluded at 05:23 P.M. (IST). The recorded transcript was to be made available on the company's website.