Crest Ventures Limited , a prominent player in the financial services sector, has initiated a postal ballot process to seek shareholder approval for the appointment of Jagdish Mohan Kirpalani as Independent Director. The company announced the postal ballot notice under Regulation 30, with e-voting scheduled from December 31, 2025, to January 29, 2026.

Postal Ballot Process Details

The company has engaged National Securities Depository Limited (NSDL) to provide remote e-voting facility to all shareholders. The postal ballot notice, dated December 18, 2025, has been dispatched electronically to shareholders whose email addresses are registered with the company.

Director Appointment Details

The postal ballot seeks shareholder approval through a special resolution for the appointment of Jagdish Mohan Kirpalani as Non-Executive, Independent Director. The appointment was initially approved by the board on October 30, 2025, following recommendation from the Nomination and Remuneration Committee.

Professional Background and Expertise

Kirpalani brings nearly four decades of leadership experience across India and international markets. His expertise spans private banking, wealth management, operational transformation, and governance. He holds a Certified Associate degree from the Indian Institute of Bankers and a Bachelor's degree in Commerce from the University of Mumbai.

Throughout his career, Kirpalani has held senior roles at prestigious financial institutions including Standard Chartered Bank, Barclays Bank, Societe Generale, and ING Bank. He has successfully led large-scale business integrations, technology transformations, and financial transitions while embedding strong risk, compliance, and governance frameworks.

Scrutinizer and Compliance

The company has appointed M/s. Rathi & Associates, Practicing Company Secretaries, Mumbai (Unique Identification No. P1988MH011900, Peer Review No. 6391/2025), as the scrutinizer to oversee the e-voting process in a fair and transparent manner.

Shareholder Information

Voting rights will be determined based on the paid-up value of shares registered in shareholders' names as on the cut-off date of December 19, 2025. The postal ballot notice is available on the company's website at www.crest.in , stock exchange websites, and NSDL's e-voting portal at www.evoting.nsdl.com .

Institutional and corporate shareholders are required to send authorization documents to the scrutinizer by January 29, 2026, at 5:00 PM IST. The resolution, if approved, will be deemed passed on the last date of e-voting, January 29, 2026.

Crest Ventures has successfully completed the allotment of non-convertible debentures worth ₹100.00 crores following the Debenture Fund Raising Committee meeting held on December 23, 2025. The committee approved the allotment of 10,000 NCDs, each with a face value of ₹1,00,000, marking the completion of the fundraising process that was initially approved on December 12, 2025.

Committee Meeting and Allotment Details

The Debenture Fund Raising Committee meeting on December 23, 2025, commenced at 10:45 a.m. and concluded at 11:10 a.m. The committee formally approved the allotment of 10,000 units of 12% rated, listed, unsecured, senior, transferable, redeemable, non-convertible debentures on a private placement basis at par. The company has made appropriate regulatory disclosures to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of the SEBI Listing Regulations.

NCD Structure and Timeline

The allotted debentures carry comprehensive specifications with defined maturity and payment schedules:

Credit Rating and Listing Framework

The NCDs have received credit rating from Care Ratings Limited through their credit rating letter dated December 10, 2025. The debentures carry a CARE BBB- rating, while the issuer rating has been reaffirmed at CARE BBB-. The NCDs are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited, providing institutional investors with a structured trading platform.

Redemption and Payment Structure

The debentures feature a structured payment mechanism with coupon payments scheduled on a quarterly basis from the deemed date of allotment. Principal repayment is scheduled upon completion of 18 months from the deemed date of allotment. The debentures are redeemable at par at the end of 18 months, specifically on June 23, 2027, subject to early redemption or acceleration pursuant to events of default as specified in the relevant documentation.

Regulatory Compliance

The allotment falls within the company's existing borrowing limits under Section 180(1)(c) of the Companies Act, 2013, as previously approved by members. The company has fulfilled all disclosure requirements under Regulation 30 of the SEBI Listing Regulations and SEBI Circular dated November 11, 2024. The unsecured nature of the debentures means no specific charge or security has been created against company assets.