Standard Capital Markets Limited has announced a significant update to its debt management strategy with the partial redemption of its non-convertible debentures (NCDs).

Redemption Details

The Board of Directors has approved the partial redemption of 273 secured non-convertible debentures (NCDs). Here are the key details of the redemption:

Redemption Process

The partial redemption was conducted following requests from debenture holders. The original debentures were allotted in July 2024.

Impact on Outstanding Debentures

Following this partial redemption, the balance of secured non-convertible debentures stands at 1,165 debentures.

This partial redemption demonstrates Standard Capital Markets Limited's commitment to managing its debt obligations and responding to debenture holders' requests. It also reflects the company's ability to meet its financial commitments as per the terms and conditions laid down at the time of issuing these secured non-convertible debentures.

Standard Capital Markets Limited held its 38th Annual General Meeting (AGM) on September 30, marking significant changes in its management structure and corporate governance practices. The company, headquartered in Delhi, made several important announcements during the virtual meeting.

Director Reappointments

The shareholders approved the reappointment of two key directors:

1. Ram Gopal Jindal (DIN: 06583160): Reappointed as a director retiring by rotation. Mr. Jindal brings extensive experience in general administration and the corporate sector, with a particular focus on Non-Banking Financial Companies (NBFCs).

2. Anshita Sharma (DIN: 09706011): Also reappointed as a director retiring by rotation. Mrs. Sharma contributes expertise in statutory compliance, secretarial practices, and legal affairs, playing a vital role in the company's governance and regulatory framework.

New Secretarial Auditor

In a move to strengthen its corporate governance, Standard Capital Markets appointed a new Secretarial Auditor:

• Virender Kumar & Associates (C.P. No. 25458): The firm was appointed for a five-year term, effective from the conclusion of the 38th AGM until the 43rd AGM. Virender Kumar & Associates brings rich experience in corporate laws, governance, and compliance management.

Key Meeting Details

• The AGM was conducted through Video Conferencing (VC) on September 30, from 12:30 PM to 12:53 PM IST.
• A total of 177 public shareholders attended the meeting virtually.
• The meeting addressed both ordinary and special business items, including the adoption of financial statements and the appointment of directors and auditors.

Financial Statements and Auditor's Report

The AGM agenda included the consideration and adoption of:

• Audited Standalone Financial Statements for the financial year ended March 31
• Audited Consolidated Financial Statements for the same period
• Reports of the Board of Directors and Auditors

It was noted that the Statutory Auditors' Report and Secretarial Audit Report did not contain any qualifications, providing a clean slate for the company's financial reporting.

Corporate Governance

Standard Capital Markets Limited emphasized its commitment to transparency and compliance:

• The company provided e-voting facilities before and during the AGM, supervised by an independent scrutinizer.
• Results of the e-voting, along with the scrutinizer's report, will be disclosed to the Stock Exchanges and displayed on the company's website.

Insider Trading Regulations

In a separate announcement, the company informed that the trading window for dealing in the company's securities would remain closed for designated persons and their immediate relatives from October 1, until 48 hours after the declaration of financial results for the quarter and half-year ended September 30. This move aligns with SEBI regulations on insider trading.

Standard Capital Markets Limited continues to adapt its corporate structure and practices to meet regulatory requirements and enhance shareholder value. The reappointment of experienced directors and the engagement of a new Secretarial Auditor reflect the company's focus on strong governance and compliance in the dynamic financial services sector.