Veefin Solutions will hold its 6th Annual General Meeting on September 29, 2026, to seek shareholder approval for significant corporate governance and financial restructuring measures. The meeting will be conducted via video conference or other audio-visual means.

The board, in a meeting held on September 2, 2026, approved several resolutions requiring special and ordinary resolutions. Key items include increasing borrowing and guarantee limits to ₹500 crore, expanding the employee stock option pool, and approving material related-party transactions for FY27.

Key Board Approvals

The board sanctioned limits under the Companies Act, 2013, subject to member approval at the AGM:

• Section 185: Limits for loans or guarantees to subsidiaries up to ₹500 crore.
• Section 186: Limits for loans, investments, or guarantees up to ₹500 crore (increased from ₹200 crore).
• Section 180(1)(a): Limits for creating charges or mortgages on property up to ₹500 crore.
• Section 180(1)(c): Limits for borrowings in excess of paid-up capital and reserves up to ₹500 crore (increased from ₹200 crore).

ESOP Scheme Expansion

The company approved an increase in the aggregate number of employee stock options under the Veefin – Employee Stock Option Plan, 2023. The limit rose from 38 lakh options to 48 lakh options, adding 10 lakh new options. These are convertible into equity shares of face value ₹10 each.

Related-Party Transactions

Shareholders will vote on material related-party transactions for FY27 involving promoters, directors, and subsidiaries. These include:

• Loans and guarantees with Managing Director Raja Debnath and Whole-time Director Gautam Udani.
• Transactions with subsidiaries including Estorifi Solutions Limited, Infini Systems Limited, Veefin Capital Private Limited, FE Ventures Private Limited, White Rivers Media Solutions Private Limited, Nityo Tech Private Limited, and GlobeTF Solutions Limited.
• A proposed transfer of 854 equity shares (5.77% stake) of White Rivers Media Solutions Private Limited from Nityo Tech Private Limited to Infini Systems Limited for ₹20 crore.

The Audit Committee approved these transactions, stating they are in the ordinary course of business and at arm’s length. Promoters and interested directors will abstain from voting on these resolutions.

Other Corporate Actions

Mr. Ajay Rajendran (DIN: 03565312) retires by rotation and offers himself for re-appointment as director. The board appointed M/s. Mittal & Associates as internal auditor for FY27.

The board noted a fine of ₹5,900 levied by BSE for delayed disclosure of related-party transactions, attributing the delay to a technical error. The fine has been paid.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0Q0M01015/7b835630-c975-48c6-adc1-5529cf9266bb.pdf

Veefin Solutions promoters Gautam Udani and Raja Debnath released pledges on their shareholdings on August 31, 2026. The disclosure was filed with stock exchanges on September 2, 2026, under SEBI takeover regulations. The release reduces the encumbered portion of their stakes held against loans from Piramal Finance Limited.

Pledge Release Details

The promoters released pledges pursuant to the pledge deed. Piramal Trusteeship Services Private Limited acted as the trustee for the encumbrance. The release affects the diluted promoter holding, which includes equity shares underlying outstanding warrants.

Diluted Shareholding Pattern

The total share capital calculation includes shares underlying outstanding warrants and ESOPs as disclosed in the June 2026 quarter filing. The diluted promoter holding reflects the conversion of convertible warrants into equity shares.

What the Numbers Show

Raja Debnath retains a significantly higher proportion of encumbered shares relative to his total holding compared to Gautam Udani. While Udani’s encumbered stake drops to 2.73% of total capital, Debnath’s remains at 13.69%, indicating a continued reliance on pledged collateral for financing despite the partial release.