SBFC Finance approves resolutions at 19th AGM
SBFC Finance held its 19th Annual General Meeting on July 14, 2026, approving audited financial statements for the year ended March 31, 2026. Shareholders re-appointed Mr. Aseem Dhru and Mr. Jonathan Tatur as Directors and passed special resolutions to increase borrowing limits, create charges on assets, and issue debt securities. All resolutions were approved with a strong majority, as detailed in the Scrutinizer’s Report dated July 15, 2026.
*this image is generated using AI for illustrative purposes only.
SBFC Finance held its 19th Annual General Meeting on July 14, 2026, through video conferencing to approve its audited financial statements and authorize key corporate actions. Shareholders approved the financial results for the year ended March 31, 2026, which were unqualified by the statutory and secretarial auditors. The meeting, chaired by Mr. Neeraj Swaroop, Independent Director & Chairman of the Board, commenced at 3:00 p.m. IST and concluded at 4:08 p.m. IST.
The Board of Directors and other key personnel attended the meeting from various locations. Mr. Aseem Dhru, Executive Vice-Chairman, and Mr. Mahesh Dayani, Managing Director & CEO, attended from the company's Registered Office. Independent Directors Ms. Surekha Marandi, Mr. Ravi Venkatraman, and Mr. Koni Uttam Nayak joined from Navi Mumbai, Mumbai, and Florida, USA, respectively. Nominee Directors Mr. John Mescall, Mr. Jonathan Tatur, and Mr. Leroy James Langeveld participated from Dubai and France.
Resolutions Passed
Shareholders voted on six resolutions, including ordinary business items and special business proposals. The ordinary resolutions included the adoption of audited financial statements and the re-appointment of Mr. Aseem Dhru and Mr. Jonathan Tatur as Directors. The special resolutions focused on expanding the company's financial flexibility.
| Sr No | Particulars | Type of Resolution |
|---|---|---|
| 1 | Adopt Audited Financial Statements for the year ended March 31, 2026 | Ordinary Resolution |
| 2 | Re-appointment of Mr. Aseem Dhru, Executive Vice-Chairman | Ordinary Resolution |
| 3 | Re-appointment of Mr. Jonathan Tatur, Nominee Director | Ordinary Resolution |
| 4 | Increase in the borrowing limits of the Company | Special Resolution |
| 5 | Increase in the limit of creation of charges on the assets of the Company | Special Resolution |
| 6 | Issuance of debt securities including Non-Convertible Debentures | Special Resolution |
Voting Results
The combined voting results of remote e-voting and e-voting conducted during the AGM were disclosed on July 15, 2026. Ms. Jigyasa Ved of M/s. Parikh & Associates, Practicing Company Secretaries, issued the Scrutinizer’s Report. All resolutions were passed with the requisite majority.
For the adoption of financial statements, 93,67,85,686 votes were cast in favour and 1,307 against. The re-appointment of Mr. Aseem Dhru received 88,78,65,930 votes in favour and 1,57,96,233 against. The re-appointment of Mr. Jonathan Tatur secured 93,26,89,505 votes in favour and 40,97,492 against.
The special resolutions regarding borrowing limits, creation of charges, and issuance of debt securities were also approved. The borrowing limit resolution received 93,67,85,678 votes in favour and 1,319 against. The creation of charges resolution received 93,67,85,430 votes in favour and 1,567 against. The debt securities issuance resolution received 93,67,85,385 votes in favour and 1,612 against.
Procedural Compliance
Ms. Namrata Sajnani, Company Secretary & Chief Compliance Officer, confirmed compliance with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Remote e-voting was facilitated by KFin Technologies Limited from July 10, 2026, to July 13, 2026. The combined results of remote e-voting and e-voting during the AGM were disclosed on the company's website and stock exchanges within two working days.
Historical Stock Returns for SBFC Finance
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.15% | +0.74% | +0.38% | -8.27% | -20.63% | +1.05% |
What specific capital allocation strategies does SBFC Finance plan to pursue following the approval to increase borrowing limits?
How will the newly authorized issuance of Non-Convertible Debentures impact the company's debt-to-equity ratio and cost of capital?
What are the intended use of proceeds for the proposed debt securities, and will they be directed toward expansion or refinancing existing liabilities?
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