Money Masters Leasing & Finance Ltd (MMLF) has successfully secured shareholder approval for increasing its authorized share capital through a postal ballot conducted via electronic voting. The resolution, which required ordinary majority, received near-unanimous support from shareholders, marking a significant step for the company's potential future growth plans.

Voting Details

The e-voting process ran from July 24 to August 22, with 6,704 shareholders eligible to participate as of the cut-off date of July 18. The results of the postal ballot were as follows:

The resolution received overwhelming support with 99.9997% of votes cast in favor and only 0.0003% against. A total of 35,356,437 shares participated in the voting process, representing 100% of the company's outstanding shares.

Scrutinizer's Report

HRU & Associates, represented by Hemanshu Upadhyay (Membership Number 46800), acted as the scrutinizer for the postal ballot. The scrutinizer confirmed that the resolution passed with the requisite majority, as detailed in the report dated August 23.

Management Statement

Hozef Darukhanawala, Managing Director of Money Masters Leasing & Finance Ltd, stated in the company's BSE filing, "The Ordinary Resolution as per Postal Ballot Notice dated 22nd July stands passed with requisite majority. The resolution is deemed to have been passed on the last date of the remote E-voting, i.e., on 22nd August."

Implications

The approval to increase the authorized share capital provides MMLF with the flexibility to potentially issue new shares in the future, which could be used for various corporate purposes such as raising additional capital, funding expansion plans, or other strategic initiatives. However, it's important to note that this approval does not necessarily mean an immediate issuance of new shares.

The strong shareholder support for this resolution may be seen as a vote of confidence in the company's management and future prospects. Investors and market watchers will likely be keen to see how MMLF utilizes this expanded capital base to drive growth and create value for shareholders.

For more detailed information, shareholders can access the full voting results and scrutinizer's report on the company's website at https://moneymasterscc.in/ .

Money Masters Leasing & Finance Limited has announced plans to increase its authorized share capital, a move that requires shareholder approval through a postal ballot. The company is taking this step to support its long-term business requirements and facilitate potential future capital issuances.

Proposed Capital Increase

The Board of Directors, in a meeting held on July 22, 2025, approved a recommendation to increase the company's authorized share capital from Rs. 34.00 crore to Rs. 60.00 crore. This significant boost represents a 76.47% increase in the authorized capital base.

Details of the Proposed Change

The current authorized share capital structure of Money Masters Leasing & Finance is as follows:

The proposed new structure would be:

This change would increase the number of authorized equity shares by 26 crore while maintaining the same number of preference shares.

Voting Process

The company has initiated a postal ballot process to seek shareholder approval for this capital increase. The key dates for the voting process are:

• Cut-off date for eligible voters: July 18, 2025
• E-voting period: July 24, 2025 (9:00 a.m. IST) to August 22, 2025 (5:00 p.m. IST)
• Results declaration: On or before August 26, 2025

The company has engaged National Securities Depository Limited (NSDL) to provide the e-voting facility to its shareholders.

Implications and Next Steps

If approved, this increase in authorized share capital would require an amendment to Clause V of the company's Memorandum of Association. The move could potentially allow Money Masters Leasing & Finance to raise additional capital in the future, which could be used for various purposes such as expansion, debt reduction, or other strategic initiatives.

Shareholders are advised to carefully review the postal ballot notice and cast their votes before the deadline. The outcome of this vote could have significant implications for the company's future capital structure and growth strategies.

Money Masters Leasing & Finance Limited's move to increase its authorized share capital reflects the company's proactive approach to ensuring it has the financial flexibility to pursue its long-term business objectives. Shareholders will play a crucial role in determining whether this strategic decision moves forward.