Secmark Consultancy Ltd's board has approved the incorporation of a wholly owned subsidiary to enter the financial services sector as an Account Aggregator. The new entity, Secmark Financial Aggregation Private Limited, will operate as a Non-Banking Financial Company (NBFC) subject to regulatory approvals. This strategic move aims to leverage the Reserve Bank of India's framework for financial data aggregation, enabling the retrieval and consolidation of financial information for customers based on their explicit consent.

The board's decision, taken on July 03, 2026, authorizes 100% subscription to the initial paid-up share capital of the subsidiary through cash consideration. The total investment amounts to ₹1,00,000, divided into 10,000 equity shares of ₹10 each. Secmark Consultancy Ltd will hold complete control over the new entity, classifying it as a holding and subsidiary relationship.

Business Operations and Regulatory Framework

The proposed subsidiary will function as an Account Aggregator, facilitating the flow of financial information between Financial Information Providers and Financial Information Users. Its operations will align with the Reserve Bank of India (Non-Banking Financial Companies – Account Aggregator) Directions, 2025. The company's mandate includes retrieving financial data specified by the RBI, organizing it, and presenting it to users strictly in accordance with accountholder consent.

Key Details of the Incorporation

Approvals and Compliance

The commencement of operations is contingent upon obtaining and maintaining the requisite Certificate of Registration from the Reserve Bank of India. The company has stated that necessary approvals will be sought from the RBI to ensure compliance with the regulatory framework governing NBFC-Account Aggregators. The filing was submitted to the exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Secmark Consultancy Ltd has confirmed that its promoters and persons acting in concert did not create any encumbrance, directly or indirectly, on the company's shares during the financial year 2025-2026. This disclosure was submitted to the stock exchanges in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The declaration was made on behalf of the promoters, promoter group, and persons acting in concert, including SecMark Holdings Private Limited and Mrs. Ilaben Jaswantlal Shah.

The filing, dated April 03, 2026, was addressed to BSE Limited and the National Stock Exchange of India Limited. It serves as an annual declaration regarding the shareholding status as on March 31, 2026. The company stated that the promoters have not pledged or encumbered any shares during the specified period.

Promoter and PAC Details

The disclosure included a detailed list of individuals and entities classified as promoters and the promoter group. The list was submitted as Annexure-A to the regulatory filing. The table below outlines the names and categories of the stakeholders involved.

The submission was signed by Indira Vijay Ramaiya, Director of SecMark Holdings Private Limited, and Ilaben Jaswantlal Shah, both identified as promoters of Secmark Consultancy Ltd. The document was subsequently forwarded to the exchanges by Sunil Kumar Bang, the Company Secretary and Compliance Officer, on April 07, 2026.