Richfield Financial Services Limited has announced the successful completion of its postal ballot process, with three special resolutions receiving overwhelming shareholder support. The company submitted the scrutinizer's report and voting results to BSE Limited on March 30, 2026, in compliance with regulatory requirements under Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Postal Ballot Process Overview

The postal ballot was conducted exclusively through remote e-voting facilitated by National Securities Depository Limited (NSDL). The voting process was open to all members whose names appeared on the Register of Members as of the record date of February 13, 2026. The company issued advertisements in Financial Express and Duranta Barta on February 27, 2026, announcing the dispatch of the postal ballot notice.

The e-voting period commenced on Saturday, February 28, 2026, at 9:00 a.m. IST and concluded on Sunday, March 29, 2026, at 5:00 p.m. IST. S. Adithya Sri Hari, Practicing Company Secretary from Adithya Sri Hari & Co., served as the appointed scrutinizer for the voting process.

Voting Results Summary

The postal ballot witnessed participation from 42 members representing a total of 2328438 shares. All three special resolutions on the agenda received remarkable approval rates of 99.99%.

Resolution 1: Appointment of Independent Director

Resolution 2: Managing Director Remuneration

Resolution 3: Articles of Association Amendment

Regulatory Compliance and Documentation

The postal ballot process was conducted in accordance with Section 110 read with Section 108 of the Companies Act 2013, Rule 22 and 20 of the Companies (Management and Administration) Rules 2014, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The company also complied with various MCA circulars and Secretarial Standards on General Meetings issued by the Institute of Company Secretaries of India.

The scrutinizer's report was digitally signed by S. Adithya Sri Hari (Membership No: 76375, CoP No: 28106) and submitted on March 30, 2026, confirming the validity and accuracy of the e-voting process. Managing Director Vadasseril Chacko Georgekutty signed the submission letter to BSE Limited, formally communicating the results for regulatory records.

Richfield Financial Services Limited has successfully completed its preferential allotment of equity shares following the board meeting held on March 10, 2026. The company allotted 21,56,000 equity shares at ₹25 per share to 78 allottees, raising ₹5.39 crores through this preferential issue.

Preferential Allotment Details

The board approved the allotment of equity shares to both promoter and non-promoter categories based on the special resolution passed by members at the Extra-ordinary General Meeting held on December 03, 2025, and in accordance with in-principal approval granted on February 25, 2026.

Major Allottees and Investment Distribution

Among the significant allottees, Ente Naadu Multi State Agro Cooperative Society Ltd received the largest allocation of 8,00,000 shares worth ₹2,00,00,000. The allotment included 77 non-promoter investors and one promoter, V C Georgekutty, who received 21,600 shares.

Post-Allotment Shareholding Pattern

The preferential allotment has resulted in significant changes to the company's shareholding structure. Ente Naadu Multi State Agro Cooperative Society Ltd emerges as a major shareholder with 8.29% stake post-allotment, while existing shareholders like Elen Elu Shibu and Erin Lizabeth Shibu have increased their holdings.

Additional Board Decisions

The board meeting, which commenced at 7:30 p.m. and concluded at 9:15 p.m., also addressed several other significant matters. The board approved the issue of subordinated debts up to ₹75 crores for the financial year 2026-27 within the company's borrowing powers.

Key Personnel Changes

The board noted and approved the resignation of Vishnu Sivan as the Chief Financial Officer of the company effective April 1, 2026. Sivan submitted his resignation due to personal reasons and not because of any official matters.

Regulatory Compliance

The preferential allotment was conducted in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018 and other applicable laws. Company Secretary and Compliance Officer Roopamol K S (ACS76256) digitally signed all regulatory communications, ensuring proper compliance with SEBI Listing Regulations.