Disclosure under SEBI Listing Regulations
1. Default Loss Guarantee Arrangements
Key Details:
- Guarantee Amount: Up to ₹90 crore (Indian Rupees Ninety Crores) with each lending partner
- Lending Partners: Muthoot Fincorp Limited and Kisetsu Saison Finance (India) Private Limited
- Nature of Business: The company operates a loan distribution business, earning revenue through sourcing fees and collection fees on loans disbursed by lending partners
- Guarantee Mechanism: Will be provided in the form of Fixed Deposits or Bank Guarantee
- Financial Impact: Financial guarantee expenses of up to ₹90 crore to each lending partner over a period of time, net of invocations
- Transaction Nature: The company confirmed that group companies have no interest in this transaction and it is conducted at arm's length
2. Independent Director Resignation
The company disclosed that Mr. Ashit Ranjit Lilani (DIN: 00766821) has withdrawn his consent for reappointment as Non-Executive Independent Director.
Key Details:
- Current Term End Date: July 04, 2026 (from close of business hours)
- Withdrawal Date: June 03, 2026 via formal letter
- Reason for Withdrawal: Other professional commitments undertaken subsequent to Board approval on May 06, 2026
- Confirmation: Mr. Lilani confirmed no other material reasons for withdrawal
- Committee Roles: He will cease as Chairperson of Nomination and Remuneration Committee and Stakeholders' Relationship Committee, and as member of Audit Committee and Investment Committee
- Board Action: The Board noted the withdrawal via circulation resolution on June 04, 2026 at 5:42 PM IST and placed on record appreciation for his services