AGM Details

  • Date: Friday, 11th September 2026
  • Time: 11:30 AM (IST)
  • Mode: Video Conferencing (VC) / Other Audio-Visual Means (OAVM)
  • Record Date: 4th September 2026

Ordinary Business Items

Item 1: Adoption of Audited Financial Statements

To receive, consider and adopt the Audited Financial Statements for FY ended 31st March 2026, including Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, and Reports of Board and Statutory Auditors.

Item 2: Re-appointment of Mrs. Bindu Gilada (DIN: 00392976)

Director liable to retire by rotation, offering herself for re-appointment. Age 59 years, holds 440,000 shares, appointed on 2nd March 2015.

Item 3: Appointment of Statutory Auditors

Appointment of M/s Venkatesh & Raghavendra, Chartered Accountants, Bangalore (Firm Registration No. 019367S) as Statutory Auditors for five years from conclusion of this AGM until FY 2030-31 AGM. Remuneration to be determined by Board.

Special Business Items

Item 4: Regularization of Mr. Sarvesh Gilada (DIN: 08968185)

Appointed as Additional Director on 14th November 2025, now proposed for regularization as Director liable to retire by rotation.

Item 5: Increase in Authorized Share Capital

Proposed increase from ₹10,00,00,000 (2,00,00,000 equity shares of ₹5 each) to ₹30,00,00,000 (6,00,00,000 equity shares of ₹5 each) by creation of 4,00,00,000 new equity shares. Requires alteration of Clause V of Memorandum of Association.

Financial Highlights FY 2025-26

  • Total Income: ₹7,43,59,412.76 (Previous: ₹7,10,05,007.80)
  • Total Expenditure: ₹4,50,49,694.36 (Previous: ₹4,20,42,505.17)
  • Profit Before Tax: ₹2,93,09,718.40 (Previous: ₹2,89,62,502.63)
  • Profit After Tax: ₹2,17,42,200.40 (Previous: ₹2,12,96,195.63)
  • EPS: ₹1.55 basic and diluted (Previous: ₹1.52)
  • Assets Under Management: ₹32.35 crores (Previous: ₹29.68 crores)
  • Capital Adequacy Ratio: 59.08% (against RBI norm of 15%)
  • Gross NPA: 6.42%
  • Net NPA: 5.56%

Capital Structure

  • Paid-up Capital: ₹7.02 crores as of 31st March 2026
  • Authorized Capital: ₹10 crores (proposed to increase to ₹30 crores)
  • No dividend declared for the year
  • Transfer to Reserves: ₹43.48 lakhs to Statutory Reserve under RBI Act

Director and Key Managerial Personnel Changes

  • Mrs. Bindu Gilada retires by rotation
  • Mr. Sarvesh Gilada appointed Additional Director on 14th November 2025
  • Mrs. Chaitra G S appointed as Company Secretary and Compliance Officer from 30th May 2025

Auditor Matters

  • M/s Bennur Nagaraja & Co, Chartered Accountants conclude their term at this AGM
  • No fraud reported by auditors during the year
  • Qualifications in audit report regarding:
  • Disputed income tax liability of ₹20,51,022 for AY 2017-18 under appeal
  • Pending registration with employees State Insurance department
  • Non-compliance with SEBI LODR Regulation 29 for Board meeting on 18/08/2025
  • Pending compliance with Rule 18(c) of Companies Rules for ₹81 lakhs debenture issuance

Compliance and Regulatory Matters

  • Received notices from Registrar of Companies for violations of Sections 134 and 203 of Companies Act
  • Order of Adjudication received for violation of Section 134 on 4th November 2025
  • Appeal filed with Regional Director, Southern Region against ROC order
  • SEBI fine of ₹56,640 imposed for non-compliance, under waiver request

Other Material Information

  • Credit Rating: ACUITE BB- assigned to long-term facilities (quantum rated: ₹5.00 crores)
  • Branches: Operational in Bangalore, Kalaburgi, Bidar, Sindagi, Vijayapur
  • Listing: Shares listed on BSE, listing fees paid for 2025-26
  • e-Voting: Remote e-voting through NSDL from 8th to 10th September 2026
  • Related Party Transactions: All transactions at arm's length, details provided in financial statements

Corporate Governance

  • Board met 6 times during FY 2025-26
  • Audit Committee met 4 times
  • Nomination and Remuneration Committee met 3 times
  • Stakeholders Relationship Committee met once
  • Independent Directors meeting held on 30th May 2025

Forward-looking Statements

The company plans to grow its loan portfolio focusing on Business loans to SMEs, Mortgage loans, Working capital loans and Vehicle loans through existing infrastructure.

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