Ashika Credit Capital Limited has successfully completed the distribution of fractional share proceeds to eligible shareholders of Yaduka Financial Services Limited, marking the final step in their amalgamation process. The company submitted reports from both its Audit Committee and Independent Directors to BSE Limited on February 05, 2026, certifying the completion of this regulatory requirement.

Amalgamation Background

The amalgamation scheme between Yaduka Financial Services Limited and Ashika Credit Capital Limited received approval from the National Company Law Tribunal, Kolkata Bench on November 04, 2025. The scheme became operative from November 18, 2025, with an appointed date of October 01, 2024.

Share Allotment Details

On December 01, 2025, Ashika Credit Capital allotted 6534507 fully paid equity shares of ₹10 each to eligible shareholders of Yaduka Financial Services. The share exchange ratio was set at 1445:1000, meaning 1,445 equity shares of the transferee company were issued for every 1,000 equity shares held in the transferor company.

The allotment included one additional equity share arising from the consolidation of fractional share entitlements of eligible Yaduka shareholders. This consolidated fractional share was allotted to Catalyst Trusteeship Limited, which was appointed as the Corporate Trustee on November 07, 2025.

Fractional Share Distribution Process

The Corporate Trustee sold the consolidated fractional share in the secondary market on January 28, 2026, within the stipulated 90-day period from the allotment date. The distribution process was completed according to the scheme's provisions and SEBI Master Circular requirements.

Regulatory Compliance

Both the Audit Committee and Independent Directors have provided certification reports confirming the proper distribution of proceeds. The Audit Committee, chaired by Mr. Ajay Pratapray Shanghavi, includes Mr. Daulat Jain as Managing Director and Ms. Pinki Kedia as Independent Director members.

The Independent Directors' report was signed by Ms. Pinki Kedia on behalf of all Independent Directors, which include Mr. Ajay Pratapray Shanghavi, Ms. Pinki Kedia, Mr. Praveen Kutumbe, and Mr. Supratim Bandyopadhyay.

Completion Certification

The reports confirm that eligible shareholders have been compensated for their fractional entitlements in accordance with Clause 11.4 of the amalgamation scheme. The net sale proceeds, after deduction of expenses, were distributed to eligible shareholders' bank accounts in proportion to their fractional entitlements, completing the final regulatory requirement of the amalgamation process.

Ashika Credit Capital Limited has announced the resignation of Ms. Ishita Jain from her position as Chief Business Officer (CBO) and Key Managerial Personnel, effective from the close of business hours on January 28, 2026. The company informed the BSE about this development on January 29, 2026, in compliance with regulatory disclosure requirements.

Resignation Details

Ms. Ishita Jain tendered her resignation from the post of Chief Business Officer due to personal reasons. As a Key Managerial Personnel appointed under Section 2(51) of the Companies Act, 2013, her departure represents a significant change in the company's leadership structure.

Regulatory Compliance

The company has fulfilled its obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure includes comprehensive details as required under the SEBI Master circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Ms. Jain provided a confirmation letter dated January 28, 2026, stating that there are no material reasons for her resignation other than those mentioned in her resignation letter. This confirmation ensures transparency and addresses any potential concerns regarding the circumstances of her departure.

Professional Acknowledgment

In her resignation letter, Ms. Jain expressed gratitude for the opportunities for professional growth and the trust placed in her during her tenure. She acknowledged the collaborative experiences and described serving the company in her capacity as a privilege.

The resignation letter was submitted to the Board of Directors, requesting relief from duties effective from the close of business hours on January 28, 2026. Ms. Jain also requested the company to file necessary forms with the Registrar of Companies and provide intimations to the Stock Exchange and other relevant authorities as required by regulations.

Corporate Communication

The formal intimation was signed by Anju Mundhra, Company Secretary & Compliance Officer (F6686), ensuring proper authorization and compliance with corporate governance standards. The company has provided all required annexures and supporting documentation to maintain transparency with stakeholders and regulatory authorities.