Panafic Investment and Finance Limited , formerly known as Panafic Industrials Limited, has approved filing an application with the Reserve Bank of India (RBI) for the appointment of Ankit Sharma as an Additional Director. The decision was taken during a board meeting held on October 19, 2026.

Regulatory Compliance and Approval Process

The Board of Directors considered and approved the proposal to seek prior written approval from the RBI for the proposed appointment. This step is necessary to comply with applicable provisions of the Companies Act, 2013, the Articles of Association of the company, and relevant RBI directions and regulatory requirements.

The company stated that the proposed appointment will be implemented in accordance with statutory and regulatory norms. It will only proceed upon receipt of the requisite prior written approval from the RBI.

Board Authorization Details

The Board authorised any director of the company to sign, execute, and submit the application along with declarations, undertakings, and supporting documents. Directors are also empowered to furnish additional information or clarifications as required by the regulator.

The meeting commenced at 3:30 pm and concluded at 4:00 pm. The outcome was submitted to BSE Limited for information and records.

Panafic Industrials Limited concluded its 41st Annual General Meeting on September 11, 2026, with shareholders approving the adoption of audited financial statements for FY26 and a special resolution to change the company’s name. The meeting was held in Delhi and chaired by Ms. Sarita Gupta, Chairperson and Managing Director.

A total of 64 members attended physically, establishing the requisite quorum. The proceedings commenced at 10:00 am and concluded at 11:00 am. Remote e-voting was facilitated from September 8 to September 10, 2026.

Key Resolutions Passed

The resolutions were scrutinized by M/s JVP & Associates Company Secretaries LLP. All six items of business transacted were passed with requisite majority.

Voting Results

The consolidated report from scrutinizer Ms. Jayanti Sharma details the voting outcomes. As on the record date of September 4, 2026, there were 54,371 shareholders. A total of 278,410,925 votes were polled, representing 56.50% of outstanding shares.

Promoters and promoter group held 80,816,294 shares and voted in favor of all resolutions. Public institutions held 2,500,000 shares and also voted fully in favor. Public non-institutional shareholders held 409,433,706 shares, with 195,094,510 votes polled.

For the ordinary resolutions (adoption of financials, re-appointment of director, appointment of secretarial auditors), 278,405,152 votes (99.99%) were cast in favor, while 5,773 votes (0.00%) were against. No invalid votes were recorded.

For the special resolutions regarding the name change and alterations to the Memorandum and Articles of Association, support remained near-universal. Votes in favor ranged between 278,402,967 and 278,402,972, constituting 99.99% of polled votes. Votes against ranged from 7,953 to 7,958.

Management Commentary

Ms. Gupta highlighted the company’s focus on operational excellence and efficiency building during FY26. She noted that Panafic Industrials maintained a competitive market position despite challenges arising from inflation, intense competition, and regulatory pressures.

The Chairperson provided a summary of the Annual Report, including remarks from the Statutory and Secretarial Auditors for the financial year ended March 31, 2026. Members were informed that statutory registers are available for inspection upon request.

Board Presence

The following directors and key managerial personnel attended the meeting:

• Ms. Sarita Gupta (Chairperson/Managing Director)
• Mr. Duraiswamy Basuvaiah (Non-Executive Independent Director)
• Mr. Chandan (Non-Executive Independent Director)
• Ms. Aarushi Gupta (Chief Financial Officer)
• Mr. Dharmender Kumar (Company Secretary & Compliance Officer)

CA Apoorv Aggarwal represented the statutory auditors, M/s Sudhir Agrawal & Associates.