Event Overview
The 64th Annual General Meeting of Mangal Credit and Fincorp Limited was held on Tuesday, September 22, 2026, from 12:30 PM to 13:04 PM IST through Video Conferencing/Other Audio Visual Means. The meeting was conducted in compliance with the Companies Act, 2013 and SEBI Listing Regulations.
Meeting Proceedings
Mr. Chirag Narendra Parmar, Company Secretary and Compliance Officer, welcomed members. Mr. Meghraj Sohanlal Jain, Chairman and Managing Director, chaired the meeting and confirmed quorum was present. The Chairman introduced board members, statutory auditors, and secretarial auditors present at the meeting.
The Company Secretary provided updates on:
- E-voting process and participation mechanisms
- Appointment of Scrutinizer Vijay S. Tiwari & Associates for the AGM
- Availability of combined e-voting results on company website and stock exchanges
- Distribution of Annual Report web-links to shareholders without registered email addresses
Management Presentations
Mr. Meghraj Sohanlal Jain delivered a speech covering:
- Company's operational highlights and recent expansions
- Positive future outlook
- Commitment to inclusive growth and community development
- Registration as Corporate Agent with IRDAI to offer health, life, and general insurance products
Mr. Hardik Meghraj Jain, Executive Director, briefed about the company's financial and operational performance for FY 2025-26 and up to the notice date.
Business Items Approved
Ordinary Business:
1. Adoption of Annual Audited Financial Statements for FY ended March 31, 2026, with reports of Board of Directors and Statutory Auditors
2. Declaration of final dividend of ₹0.75 per equity share of face value ₹10 each for FY 2025-26
3. Re-appointment of Mr. Hardik Meghraj Jain (DIN: 07871480) who retired by rotation
Special Business:
4. Approval of Material Related Party Transactions with Mr. Meghraj Sohanlal Jain for availment of loan up to ₹250,00,00,000 (Two Hundred Fifty Crore) in one or more tranches for FY 2026-27 and up to the date of 65th AGM
5. Approval of Material Related Party Transactions with Mr. Hardik Meghraj Jain for availment of loan up to ₹50,00,00,000 (Fifty Crore) in one or more tranches for FY 2026-27 and up to the date of 65th AGM
6. Increase in Authorised Share Capital from ₹25,00,00,000 (Twenty Five Crore) divided into 2,50,00,000 equity shares of ₹10 each to ₹30,00,00,000 (Thirty Crore) divided into 3,00,00,000 equity shares of ₹10 each, with consequential alteration of Capital Clause of Memorandum of Association
7. Creation, offer, issue and allotment of up to 25,00,000 (Twenty Five Lakh) Convertible Equity Warrants on preferential basis to Promoters and Non-Promoters at price determined in accordance with Regulation 164 of SEBI ICDR Regulations
8. Increase in Borrowing Limits from ₹750 Crore to ₹1,500 Crore under Section 180(1)(c) of Companies Act, 2013
9. Creation of Charge on Assets of the Company under Section 180(1)(a) of Companies Act, 2013
Voting and Results
Shareholders who did not cast votes through remote e-voting were allowed electronic voting facility provided by NSDL. Voting ended 15 minutes after conclusion of AGM. E-voting results along with consolidated Scrutinizer's Report will be disseminated to stock exchanges within two working days and made available on company website and stock exchange websites.
Meeting Conclusion
The AGM concluded at 13:04 PM IST with quorum present throughout. The document specifies it does not constitute the official minutes of the 64th AGM proceedings.