Fusion Finance Limited Secures IRDAI License as Corporate Insurance Agent

Fusion Finance Limited has taken a significant step towards expanding its service offerings by obtaining a Certificate of Registration from the Insurance Regulatory and Development Authority of India (IRDAI). This development allows the company to operate as a Corporate Agent (Composite) under the Insurance Act, 1938.

Key Details of the License

Type of License: Corporate Agent (Composite)
Issuing Authority: Insurance Regulatory and Development Authority of India (IRDAI)
Validity Period: Three years
Scope: Allows solicitation of insurance products to customers

Implications for Fusion Finance Limited

The acquisition of this license marks a strategic move for Fusion Finance Limited, enabling the company to:

Diversify its service portfolio beyond its current business operations
Offer insurance products to its existing customer base
Potentially increase revenue streams through insurance-related activities

Regulatory Compliance

As per the disclosure made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Fusion Finance Limited has duly informed the stock exchanges about this development. The company's commitment to regulatory compliance is evident in its prompt and transparent communication with stakeholders.

Market Response

The immediate market response to this news is not provided in the available data. However, the expansion into insurance services could potentially enhance Fusion Finance Limited's competitive position in the financial services sector.

Looking Ahead

As Fusion Finance Limited ventures into the insurance domain, it will be interesting to observe how this new capability integrates with its existing financial services and impacts its overall business strategy. The company's ability to leverage this license effectively could play a crucial role in its growth trajectory.

Investors and market watchers may keep a close eye on how Fusion Finance Limited capitalizes on this opportunity to expand its service offerings and potentially boost its revenue in the insurance sector.

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Fusion Finance Limited has announced the successful approval of four significant resolutions through a postal ballot voting process, marking a pivotal moment in the company's governance structure.

Board Composition Changes

The shareholders of Fusion Finance have given their nod to the following appointments:

Mr. Sanjay Garyali (DIN:11046442) as Director and Whole-time Director
Mr. Rajeev Sardana (DIN:06648276) as Non-Executive Independent Director
Mr. Hemant Omprakash Mundra (DIN:08192978) as Non-Executive Director

These appointments, along with the fixation of remuneration for Mr. Garyali and Mr. Sardana, were passed with overwhelming support from the shareholders.

Voting Process and Results

The postal ballot was conducted through remote e-voting, with a total of 86,402 shareholders on the record date of September 12, 2025. The voting process concluded on October 19, 2025, and the results were scrutinized by CS Harish Kumar of Harish Popli And Associates.

Here's a breakdown of the voting results:

Resolution	Type	Votes in Favor (%)	Votes Against (%)
Appointment of Sanjay Garyali as Director	Ordinary	99.998	0.002
Appointment of Sanjay Garyali as Whole-time Director	Special	96.357	3.643
Appointment of Rajeev Sardana as Non-Executive Independent Director	Special	99.998	0.002
Appointment of Hemant Omprakash Mundra as Non-Executive Director	Ordinary	99.998	0.002

Shareholder Participation

The e-voting saw active participation from shareholders across different categories:

Promoter and Promoter Group: 99.9986% of their votes were polled
Public Institutions: 79.8738% of their votes were polled
Public Non-Institutions: 1.3393% of their votes were polled

Compliance and Transparency

Fusion Finance Limited has ensured compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Companies Act, 2013. The company has submitted the voting results and the scrutinizer's report to the stock exchanges, maintaining transparency in its corporate governance practices.

The successful passing of these resolutions indicates strong shareholder confidence in the proposed changes to Fusion Finance's board structure. These appointments are expected to bring fresh perspectives and expertise to guide the company's future strategies and operations.

As Fusion Finance moves forward with its new leadership appointments, stakeholders will be keen to observe how these changes may influence the company's direction and performance in the evolving financial services landscape.