Fusion Finance Limited has published newspaper advertisements on April 03, 2026, confirming the dispatch of its postal ballot notice for director appointments under Regulation 30 of SEBI regulations. The company sent a formal communication to stock exchanges regarding the advertisement publication in Financial Express (English) and Jansatta (Hindi) newspapers.

Postal Ballot Process and Timeline

The postal ballot notice dated April 02, 2026, seeks shareholder approval for two director appointments through remote e-voting process. The company has engaged MUFG Intime India Private Limited to provide the e-voting facility.

Director Appointment Proposals

The postal ballot covers two key resolutions for director appointments requiring shareholder approval:

Director Profiles and Compensation

Mr. Brahmanand Hegde brings over 30 years of experience in microfinance, rural banking, and financial inclusion. He is the founder and key promoter of Vistaar Finance and previously served as Director – Microfinance at Fullerton India. His appointment includes annual remuneration of Rs 7.50 lacs for three financial years from April 1, 2026 to March 31, 2029.

Ms. Remika Agarwal serves as Director and Country Head – India at Creation Investments since January 2020. She represents Creation Investments Fusion, LLC and Creation Investments Fusion II, LLC, possessing extensive experience in NBFCs and credit markets. She will not receive any remuneration or sitting fees.

Shareholder Participation Guidelines

Shareholders whose names appear in the Register of Members or Register of Beneficial Owners as on the cut-off date are eligible to vote. The postal ballot notice has been dispatched electronically to members whose email addresses are registered with the company, RTA, NSDL, or CDSL. The company has confirmed that all communication will be conducted through electronic mode only, with no physical postal ballot forms being sent.

Fusion Finance Limited announced significant board changes following its meeting held on March 31, 2026. The company informed stock exchanges about the resignation of one director and the appointment of a new board member, both representing Creation Investments Fusion entities, pursuant to Regulations 30 and 51 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Director Resignation Details

Kenneth Dan Vander Weele resigned from his position as Non-Executive Director of the company, effective March 31, 2026. His resignation was attributed to retirement after serving on the board since 2016.

In his resignation letter, Vander Weele confirmed there were no other material reasons for stepping down beyond retirement. He expressed gratitude for the opportunity to serve and contribute to the company's governance and transformation over his tenure since 2016.

New Director Appointment

The board approved the appointment of Remika Agarwal as Non-Executive Non-Independent Director, subject to shareholder approval. The appointment ensures continued representation from Creation Investments Fusion entities.

Professional Background of New Director

Remika Agarwal brings extensive experience in Non-Banking Financial Companies and credit markets. She joined Creation Investments in January 2020 and currently serves as Director and Country Head – India. Her professional background includes previous board positions at Sonata Finance Private Limited, Kissandhan Agri Financial Services Private Limited, and North End Foods Marketing Private Limited.

Currently, she serves on the boards of CISV India Private Limited and Desiderata Impact Ventures Private Limited. She previously headed Structured Finance & Products at Northern Arc Capital and worked with ICRA Ratings covering the financial services sector.

Educational Qualifications

Agarwal holds a Master of Business Administration from the Management Development Institute and a Bachelor of Science in Economics, Statistics, and Mathematics from St. Xavier's College, Kolkata.

Meeting Details and Compliance

The board meeting commenced at 05:15 PM IST and concluded at 05:40 PM IST on March 31, 2026. The decisions were made pursuant to Regulations 30 and 51 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The appointment was recommended by the Nomination and Remuneration Committee and requires shareholder approval to become effective. The board placed on record its appreciation for Vander Weele's valuable contribution during his association with the company.