Interactive Financial Services Limited concluded its first Extra Ordinary General Meeting (EGM) for the fiscal year 2026-27 on August 08, 2026, addressing critical structural changes including an increase in authorized share capital and borrowing limits. The meeting, held from 04:00 P.M. to 04:10 P.M. (IST) via video conference on the ZOOM platform, allowed shareholders to vote on four key resolutions through remote e-voting. These moves aim to strengthen the company’s balance sheet flexibility and operational framework.

The proceedings were conducted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Pradip Sandhir, Managing Director and CFO, chaired the session, while Jaini Jain, Company Secretary, managed the procedural aspects. The quorum was present throughout the meeting, which was live-webcasted for shareholder accessibility.

Key Resolutions Transacted

Shareholders voted on four specific agendas during the EGM. The resolutions required varying levels of approval, with three designated as special resolutions and one as an ordinary resolution.

The inclusion of a resolution regarding the potential sale or disposal of the undertaking indicates a significant strategic consideration, though no immediate transaction was finalized during this meeting. The alteration of both the Memorandum and Articles of Association is necessary to accommodate the increased capital structure and borrowing capacity.

Attendees and Oversight

The Board and Key Managerial Persons (KMPs) present included Mayur Parikh (Executive Director), Rutu Sanghvi (Non-Executive Independent Director), Raghav Jobanputra (Non-Executive Independent Director), and Monil Shah (Non-Executive Independent Director).

Independent oversight was provided by M/s. B. T. Vora & Co. as Statutory Auditor, M/s S. J. Bhesaniya & Co. as Internal Auditor, and Ms. Insiya Nalawala as Secretarial Auditor and Scrutinizer. Ms. Nalawala was appointed by the Board to scrutinize the e-voting process, ensuring compliance with regulatory standards.

Procedural Compliance

The Company Secretary confirmed that the meeting adhered to circulars issued by the Ministry of Corporate Affairs and SEBI regarding virtual meetings. Shareholders who had not cast their votes via remote e-voting were given the opportunity to vote during the live session. The final results are pending the Scrutinizer’s report and will be disclosed on the company’s website and submitted to stock exchanges upon receipt.

Interactive Financial Services Limited has scheduled its first Extraordinary General Meeting (EGM) of FY 2026-27 for August 08, 2026, to seek shareholder approval for increasing its authorized share capital and borrowing limits. The meeting will be held via video conferencing at 04:00 P.M. IST. The Board approved the alteration of the Articles of Association and the notice for the EGM during its meeting on July 15, 2026.

The company proposes to increase the authorized share capital from ₹8 crore to ₹70 crore by creating 6.20 crore additional equity shares of ₹10 each. This expansion aims to broaden the capital structure and enable future issuances. Additionally, shareholders will vote on a special resolution to increase the borrowing limits to ₹50 crore, excluding temporary loans, up from the previous limit of ₹10 crore authorized in 2017.

Key Resolutions

The EGM will also consider a special resolution to alter Article 6 of the Articles of Association to align with the Companies Act, 2013, providing greater flexibility regarding capital restructuring. Another special resolution seeks approval to sell, lease, or dispose of the whole or substantially the whole of the company's undertaking, subject to Section 180(1)(a) of the Companies Act, 2013.

Remote e-voting will be available from August 05, 2026, at 09:00 A.M. IST to August 07, 2026, at 05:00 P.M. IST. The record date for determining eligibility is August 01, 2026. The filing was submitted to BSE Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.