Smart Finsec Limited has entered into a loan agreement with Bajaj Housing Finance Limited (BHFL) to avail a financial facility of ₹15.60 crore for business expansion activities.

The board approved the transaction during a meeting held on October 14, 2026. The company disclosed the execution of the agreement under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Loan terms and security

The facility is structured as a Loan Against Property (LAP) with a maximum tenure of 144 months. The interest rate is fixed at 8.75% per annum, subject to floating rate revisions. To secure the borrowing, Smart Finsec has provided a first charge over its property located at B-10/13 DLF Phase 1, Gurugram-122003.

As of the date of execution, the total amount outstanding under this specific facility is nil, marking the commencement of the new borrowing arrangement.

Regulatory disclosures

The filing confirms that the parties are not related to the promoter or promoter group, and the transaction does not fall within the category of related party transactions. Consequently, arm's length pricing considerations for related entities were not applicable. The company also disclosed that there are no nominee directors on its board arising from this agreement and no potential conflicts of interest exist.

What the numbers show

The disclosed interest rate of 8.75% is notably lower than typical unsecured corporate debt rates in the Indian market, reflecting the security provided by the first charge on the Gurugram real estate asset. This suggests that the company is leveraging its tangible assets to access cheaper capital for expansion, rather than relying on equity dilution or higher-cost unsecured borrowing. The 12-year maximum tenure aligns with long-term infrastructure or operational growth needs, allowing for manageable amortization schedules relative to the ₹15.60 crore principal.

Smart Finsec Limited shareholders approved all four resolutions at its 31st Annual General Meeting held on September 21, 2026. The meeting, conducted via video conferencing, saw a strong mandate with 99.99% of valid votes cast in favour of each resolution.

The board secured approval for special business items, including an increase in borrowing limits under Section 180(1)(c) of the Companies Act, 2013, and the creation of charges or providing security pursuant to Section 180(1)(a). Members also adopted the audited standalone financial statements for FY26 and approved the re-appointment of Ms. Vimmi Sachdev as a director retiring by rotation.

Voting Results Breakdown

The scrutinizer’s report confirmed that the resolutions were passed with the requisite majority. The promoter and promoter group voted unanimously in favour, holding 22,495,560 shares. Public non-institutional investors cast 158,186 votes, with 156,703 in favour and 1,483 against across all items.

Meeting Proceedings

Mr. Sachit Khera, Chairman of the Meeting, presided over the proceedings. The deemed venue was the company's registered office in New Delhi. Key attendees included Mr. Arun Khera, Managing Director; Mr. Vishesh Chaturvedi, Independent Director; Ms. Parul Pathak, Independent Director; and Mr. Jayant Kumar, Chief Financial Officer.

Ms. Vimmi Sachdev, Independent Director, was absent due to personal reasons. However, she retires by rotation and offered herself for re-appointment, a resolution that was part of the ordinary business agenda and subsequently approved by shareholders.

Governance and Auditors

A total of 73 members attended the meeting physically or virtually during the session, which commenced at 11:40 am and concluded at 12:28 pm. The remote e-voting period remained open from September 18, 2026, to September 20, 2026. Voting lines were open for 15 minutes after the conclusion of the AGM.

Mr. Ashwani Mohan, Partner at A. Mohan & Co., Chartered Accountants, served as the Statutory Auditor. Mr. Pawan Kumar Mishra, Proprietor of PK Mishra and Associates, acted as the Secretarial Auditor and Scrutinizer for the remote e-voting process. Members were provided the facility to cast votes via e-voting during the meeting and for 15 minutes post-conclusion.