U.Y. Fincorp shareholders approve FY26 financials and new auditor
- Shareholders approved audited financial statements for FY26 with no audit qualifications
- M/s. Praveen K Srivastava & Co. appointed as Statutory Auditors for a five-year term
- Dinesh Burman re-appointed as Whole-time Director for three years effective May 2027
- Material related party transactions for FY27 approved via ordinary resolution
*this image is generated using AI for illustrative purposes only.
U.Y. Fincorp Limited shareholders approved the audited financial statements for the fiscal year ended March 31, 2026, during the 33rd Annual General Meeting held on September 30, 2026. The meeting also ratified the appointment of new statutory auditors and re-appointed key directors.
The statutory auditors' report and secretarial auditor report for FY26 contained no qualifications or adverse remarks, indicating a clean audit outcome for the fiscal year. All items of business contained in the Notice were approved by shareholders through remote e-voting and e-voting at the meeting.
Key Governance Appointments
The shareholders passed several critical resolutions regarding governance and leadership:
- Statutory Auditor Appointment: M/s. Praveen K Srivastava & Co., Chartered Accountants, were appointed as Statutory Auditors for a five-year term, effective from the conclusion of this AGM until the 38th AGM. This appointment fills a casual vacancy caused by the resignation of the previous auditor, M/s. B. Nath & Co.
- Director Re-appointment: Udai Kothari was re-appointed as a Director retiring by rotation.
- WTD Re-appointment: A special resolution approved the re-appointment of Dinesh Burman as Whole-time Director for three years, effective May 30, 2027.
Related Party Transactions
An ordinary resolution was passed to approve material related party transactions for the financial year 2026-27 and up to the date of the AGM to be held in 2027, ensuring compliance with regulatory requirements for such dealings.
Voting Outcome Details
The voting was conducted under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The total number of shareholders on the record date was 19,920. Since the AGM was held through Video Conferencing, physical attendance was dispensed with, and 78 shareholders attended via VC.
| Resolution | Type | Votes in Favour | Votes Against | Result |
|---|---|---|---|---|
| Adoption of FY26 Financials | Ordinary | 14,07,10,688 | 123 | Passed |
| Re-appointment of Udai Kothari | Ordinary | 46,89,882 | 1,123 | Passed |
| Appointment of Statutory Auditors | Ordinary | 14,07,09,688 | 1,123 | Passed |
| Re-appointment of Dinesh Burman | Special | 14,07,09,688 | 1,123 | Passed |
| Approval of Related Party Trans. | Ordinary | 46,85,382 | 5,623 | Passed |
Meeting Proceedings
The meeting commenced at 11:30 am and concluded at 11:52 am. Udai Kothari presided over the session, noting that the quorum was met through video conferencing. Remote e-voting facilities were utilized prior to the meeting, with results scrutinized by Udit Agarwal of Kamalia Associates. The final voting results have been communicated to stock exchanges.
Historical Stock Returns for UY Fincorp
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.76% | -10.05% | +20.68% | +61.67% | +60.00% | -32.64% |
How will the new five-year audit term with Praveen K Srivastava & Co. influence U.Y. Fincorp's future financial reporting standards and compliance strategy?
What specific strategic initiatives is Dinesh Burman expected to lead during his renewed three-year tenure as Whole-time Director starting in 2027?
How might the approved material related party transactions for FY26-27 impact the company's capital allocation and liquidity position in the coming fiscal year?
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