Coffers Finvest Limited announced the resignation of Vivek Kumar Singhal from the position of Chief Financial Officer (CFO), effective close of business hours on September 23, 2026. The move stems from a diversification of roles and responsibilities within the company.

Despite stepping down as CFO, Singhal clarified that his resignation is restricted solely to that role. He will continue to serve as the Managing Director of the company and remain a member of the Board of Directors. The company stated it would separately intimate the appointment of a new CFO once finalized, in compliance with SEBI Listing Obligations and Disclosure Requirements (SEBI LODR) Regulations.

Regulatory disclosure details

The resignation was reported to BSE Limited under Regulation 30 of the SEBI LODR Regulations. The filing included specific disclosures regarding the cessation of the CFO role, noting that the change does not affect his directorship or MD position.

Governance structure implications

The retention of Singhal as Managing Director suggests a strategic realignment of leadership duties rather than a departure from the company's core management team. By separating the CFO function from the MD role, the company may be aiming to distribute financial oversight responsibilities more broadly, although no successor has been named yet.

The company’s registered office is located in Mumbai, with a corporate office in Raipur. The filing was signed by Akshat Sharma, Company Secretary, confirming the procedural compliance with SEBI circulars dated September 9, 2015, and July 13, 2023.

Coffers Finvest Limited filed an appeal with the Securities Appellate Tribunal on September 8, 2026, challenging alleged outstanding fines linked to its preferential allotment application.

The company, formerly known as GSB Finance Limited, initiated the legal process in response to remarks received from the BSE regarding its 'in-principle' application for the proposed preferential allotment.

Regulatory Context

The appeal targets a specific portion of the total alleged penalties imposed by the exchange. The company is contesting a fine amount of ₹1,61,70,000 plus applicable GST.

This contested amount forms part of larger alleged fines aggregating to ₹1,62,90,000 plus applicable GST. The remaining difference between the total alleged fines and the specific amount under appeal was not detailed in the filing as part of this specific SAT challenge.

Corporate Action

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Akshat Sharma, Company Secretary, signed the intimation letter addressed to the BSE.

The company stated it is taking appropriate steps to pursue the matter before the tribunal. Further disclosures will be made as required under applicable laws and regulations.