Haryana Financial Corporation has received regulatory compliance declarations from its key stakeholders regarding share encumbrance for the Financial Year 2025-26. The declarations, filed under SEBI regulations, confirm that no encumbrance activities occurred during the fiscal period.

Promoter Declaration Details

The Governor of Haryana, acting through the Department of Industries and Commerce, Government of Haryana, submitted a formal declaration on April 07, 2026. The promoter, along with persons acting in concert, confirmed no encumbrance of shares was made directly or indirectly during Financial Year 2025-26 ended on March 31, 2026.

SIDBI Shareholding Declaration

Small Industries Development Bank of India (SIDBI) filed a separate declaration confirming compliance with the same regulatory requirements. SIDBI holds a substantial equity position in the company and submitted detailed shareholding information.

Regulatory Compliance Framework

Both declarations were submitted pursuant to Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation requires promoters and substantial shareholders to disclose any encumbrance activities during the financial year. The filings were directed to BSE Limited's Listing Compliance Monitoring Team for official records.

The declarations serve as formal compliance documents ensuring transparency in shareholding patterns and encumbrance activities. Both the promoter entity and SIDBI confirmed adherence to regulatory disclosure requirements for the completed financial year.

Corporate Communication

The company's communication was coordinated through its registered office at 30 Bays Building, Sector 17-C, Chandigarh. SIDBI's declaration was issued from its Mumbai headquarters at Bandra Kurla Complex. Both entities maintained proper documentation and signatory protocols as required under corporate governance standards.

Haryana Financial Corporation successfully conducted its 58th Annual General Meeting on March 25, 2026, at The Haryana State Cooperative Apex Bank Ltd premises in Chandigarh. The meeting commenced at 3:30 PM and concluded at 4:30 PM, with Sh. Sushil Sarwan, IAS, Managing Director, presiding as Chairman due to the pre-occupation of the Corporation's Chairman.

Meeting Attendance and Participation

The Annual General Meeting achieved the requisite quorum with total attendance of 12 members across different categories. The attendance breakdown demonstrates active shareholder participation in the corporation's governance processes.

The meeting was attended by key officers including Shri Sanjay Garg (General Manager), Shri H. S. Rana (Company Secretary), Ms. Richa Garg (Chief Financial Officer), and other senior management personnel. Statutory auditor Shri Ravinder Garg, CA, and company law consultant Shri P. D. Sharma, FCS, were also present.

Financial Statements and Audit Appointments

The shareholders unanimously approved the adoption of audited Balance Sheet as of March 31, 2025, and the Statement of Profit and Loss for the year ended on that date, together with the Board of Directors' Report for 2024-25 and the Auditor's Report. This resolution was proposed by Shri M. K. Chopra and seconded by Shri Chandan Kumar Mukherjee.

For the financial year 2025-26, the meeting appointed M/s AARSH & Associates, Chartered Accountants, Chandigarh, as statutory auditors from the Reserve Bank of India's approved panel. The audit fee was set at Rs.57,200/- plus applicable GST and admissible TA/DA.

Secretarial Audit and Compliance Measures

In compliance with SEBI regulations, the shareholders appointed Shri Vishal Arora, Practicing Company Secretary, as Secretarial Auditor for a five-year term commencing from financial year 2025-26. The appointment carries a lump-sum fee of Rs.25,000/- plus GST, with provisions for the Managing Director to modify terms as deemed appropriate.

Board Appointments and Governance

The meeting approved the re-appointment of six directors through a single resolution as permissible under the Companies Act, 2013. The re-appointed directors include representatives from various government and financial institutions.

A special resolution was passed unanimously for the appointment of Shri M. K. Chopra as Non-Executive Director representing shareholders for three years, notwithstanding his age of seventy-five years. This appointment aligns with Section 10(e)(i) of the State Financial Corporations Act, 1951, and SEBI listing regulations.

Formal Director Appointment Confirmation

Following the AGM approval, Haryana Financial Corporation formally issued the appointment letter to Shri M.K. Chopra on March 30, 2026. The corporation notified BSE Limited under Regulation 30 of SEBI (LODR) Regulations, 2015, confirming his appointment as Shareholders Director.

Corporate Structure and Compliance

Haryana Financial Corporation operates as a Public Sector Company with 97.28% shareholding held by the State Government of Haryana. The corporation maintains its registered office at 30 Bays Building, Sector 17-C, Chandigarh. All resolutions were passed unanimously, reflecting strong shareholder confidence in the corporation's governance and strategic direction.