Golden Legand Leasing & Finance Limited announced the incorporation of a wholly owned subsidiary following board approval on March 13, 2026. The board meeting, held from 03:00 P.M. to 04:30 P.M., approved the establishment of Gullakkart Private Limited to expand into digital payments services.

Subsidiary Incorporation Details

The board approved the incorporation of Gullakkart Private Limited under the Companies Act, 2013, with an initial investment of Rs. 5,00,00,000. The subsidiary will operate in the digital payments and prepaid payment instruments (PPI) services sector.

Investment Structure

The company will subscribe to 50,00,000 equity shares at Rs. 10 per share, totaling Rs. 5,00,00,000 as the paid-up share capital of the new subsidiary. Golden Legand Leasing and Finance Limited will hold 100% of the share capital, making it a wholly owned subsidiary.

Business Operations

Gullakkart Private Limited will focus on digital payments and prepaid payment instruments services, marking the parent company's entry into the fintech sector. The subsidiary will carry on business activities related to digital payment solutions and PPI services.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company provided detailed disclosures as required under various SEBI circulars, including the Master Circular dated January 30, 2026. The incorporation will proceed subject to approval of the proposed name by the Registrar of Companies, Mumbai.

Key Highlights

• Cash consideration for the subsidiary incorporation
• No specific governmental or regulatory approvals required for incorporation
• Strategic expansion into digital payments sector
• Complete ownership and control retained by the parent company

The board meeting outcome and related documents are available on the company's website at gllfl.com for stakeholder reference.

Golden Legand Leasing & Finance Limited has successfully completed its Extra-Ordinary General Meeting (EGM) held on March 10, 2026, with shareholders unanimously approving a special resolution for issuing convertible share warrants on preferential basis. The meeting was conducted through video conferencing at 04:30 PM IST, in compliance with applicable provisions of the Companies Act, 2013.

EGM Participation and Voting Results

The company reported significant shareholder participation in the voting process. A total of 28 public shareholders attended the meeting through video conferencing, while no promoter or promoter group members were present. The voting was conducted through both remote e-voting and e-voting during the EGM, with the remote e-voting facility remaining open from March 06, 2026 (9:00 AM IST) to March 09, 2026 (5:00 PM IST).

Resolution Voting Breakdown

The special resolution for issuing convertible share warrants on preferential basis received overwhelming support from shareholders. The detailed voting results demonstrate strong confidence in the company's strategic direction.

Scrutinizer's Report and Compliance

CS Hemant Maheshwari, Proprietor of M/s H. Maheshwari & Associates, served as the appointed scrutinizer for the EGM voting process. The scrutinizer was appointed by the Board of Directors in their meeting held on February 09, 2026. The comprehensive scrutinizer's report, dated March 11, 2026, confirmed that the resolution passed with requisite majority and no invalid votes were recorded.

The e-voting system was provided by Central Depository Services (India) Limited (CDSL), ensuring secure and transparent voting procedures. All shareholders holding shares as of the cut-off date of March 03, 2026, were entitled to participate in the voting process.

Regulatory Compliance and Documentation

The company has fulfilled its obligations under Regulation 30 and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The voting results and scrutinizer's report have been submitted to BSE Limited and are also hosted on the company's website at gllfl.com for stakeholder access.

The successful completion of this EGM marks an important milestone for Golden Legand Leasing & Finance Limited, with the unanimous shareholder approval providing a strong foundation for the company's planned convertible share warrant issuance on preferential basis.