Geetanjali Credit and Capital Ltd has restructured its board following the resignation of Ashok Kumar Mathur and the subsequent appointment of Pradeep Kumar Agrawal as an independent director. These changes, effective July 17, 2026, were approved during a board meeting held on the same date, subject to regulatory and shareholder approvals.

Ashok Kumar Mathur resigned from the post of Executive Director due to pre-occupancy, effective from the close of business hours on July 17, 2026. In his resignation letter, Mathur confirmed there were no material reasons for his departure other than those stated. He currently holds a directorship at Saumya Capital Limited.

To fill the vacancy, the board appointed Pradeep Kumar Agrawal as an Additional Director in the category of Non-Executive Independent Director for a term of five years. This appointment is valid from July 17, 2026, to July 16, 2031, contingent upon approval by shareholders at the ensuing Annual General Meeting. Agrawal brings over eight years of experience in accounting and taxation.

The board also approved the reconstitution of various committees. The meeting was convened in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Geetanjali Credit and Capital Ltd approved raising funds up to ₹90 crore through a rights issue of equity shares to bolster its financial structure. The board, meeting on July 16, 2026, also sanctioned an increase in the company's authorised share capital from ₹10 crore to ₹100 crore, divided into 1 crore equity shares of ₹10 each. This capital augmentation is subject to shareholder approval at the upcoming Annual General Meeting (AGM).

The rights issue involves the issuance and allotment of equity shares with a face value of ₹10 each to eligible shareholders as on a record date to be notified later. The board authorised a "Right Issue Committee" to finalise the terms and conditions, including the number of shares to be issued. The fund-raising initiative complies with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the Companies Act, 2013.

In addition to the financial proposals, the board approved the Director's Report for FY26 and fixed the 36th AGM for August 21, 2026, at 1:00 PM IST via video conferencing. The meeting also addressed governance changes, including the reconstitution of various board committees.

A significant development included the resignation of Mr. Mukesh Gupta, Non-Executive Independent Director, effective July 16, 2026, due to pre-occupancy. Gupta confirmed there were no other material reasons for his departure. The board appointed intermediaries for the proposed rights issue as per SEBI regulations.