EFC (I) Limited , a diversified company with interests in real estate, infrastructure, and other sectors, has announced significant leadership and governance decisions following a board meeting held on September 8, 2025.

Whole-time Director Re-appointment

The Board of Directors has approved the re-appointment of Mr. Nikhil Dilipbhai Bhuta as Whole-time Director for an additional five-year term. This decision, subject to shareholder approval, extends Mr. Bhuta's tenure from October 1, 2025, to September 30, 2030.

Mr. Bhuta, a Chartered Accountant with over 26 years of experience, brings a wealth of knowledge to his role. His expertise spans various industries, including Real Estate, Infrastructure, Hospitality, Agritech, Mining, and Oil & Gas. Throughout his career, Mr. Bhuta has held pivotal positions such as CFO, Country Head, and CEO, successfully executing major projects both in India and internationally.

Notably, Mr. Bhuta has demonstrated his financial acumen by raising capital on prominent stock exchanges, including BSE, TSX, and AIM. His re-appointment is viewed as a strategic move to maintain continuity in the company's leadership and leverage his extensive experience for future growth.

New Secretarial Auditor Appointment

In another key decision, the Board has appointed M/s. Sachapara & Associates as the company's Secretarial Auditor for five consecutive financial years, spanning from FY 2025-26 to FY 2029-30. This appointment is also subject to shareholder approval.

M/s. Sachapara & Associates, a practicing Company Secretaries firm, brings significant expertise to this role. The firm holds a Peer Review Certification (No. 3447/2023) and has extensive experience in corporate law compliance and corporate restructuring.

Board Meeting Details

The board meeting, which commenced at 11:00 a.m. (IST) and concluded at 11:20 a.m. (IST) on September 8, 2025, addressed these critical appointments. The decisions reflect EFC (I) Limited's commitment to maintaining strong corporate governance and ensuring experienced leadership at the helm.

These strategic moves are expected to contribute to the company's continued growth and operational excellence in the coming years. Shareholders will have the opportunity to vote on these appointments at the upcoming General Meeting, the date of which is yet to be announced.

EFC (I) Limited continues to position itself for future success with these key appointments, leveraging experienced leadership and robust governance practices.

EFC (I) Limited , a leading provider of managed office spaces, has announced plans to merge with its subsidiary Whitehills Interior Limited, a specialist in commercial design and build services. The proposed merger, aimed at creating operational synergies and enhancing shareholder value, will be put to a vote at a shareholder meeting scheduled for September 15, 2025.

Key Details of the Proposed Merger

• EFC will issue 3,77,30,000 new equity shares of INR 2 each to Whitehills shareholders
• Promoter shareholding in EFC expected to increase from 45.46% to 60.45% post-merger
• Merger aims to integrate Whitehills' expertise in commercial design and build with EFC's managed office space business

Financial Highlights

Whitehills has demonstrated strong financial growth in recent years:

(Figures in INR lakhs)

The merger is expected to significantly boost EFC's financial performance, with projected earnings per share increasing from INR 1.85 to INR 5.69.

Strategic Rationale

Umesh Kumar Sahay, Managing Director of EFC, stated, "This merger will create a vertically integrated workspace solutions provider, offering end-to-end services from space planning and design to execution and long-term management. By bringing Whitehills' expertise in-house, we anticipate enhanced cost efficiencies, improved execution timelines, and reduced reliance on third-party vendors."

The combined entity is expected to benefit from:

1. Expanded service offerings
2. Improved operational efficiency
3. Enhanced market positioning
4. Stronger financial profile

Regulatory Approvals and Next Steps

The merger has received a no-objection letter from BSE Limited and is subject to approval by shareholders, creditors, and the National Company Law Tribunal. EFC shareholders will vote on the proposal at the upcoming meeting, which will be held via video conferencing.

Equity shareholders can participate in the voting process through remote e-voting, which will be open for three days prior to the meeting, or through e-voting during the meeting itself.

The merger, if approved, will be effective from the appointed date of April 1, 2023, subject to necessary regulatory approvals.

Investors and stakeholders are advised to review the detailed scheme documents and explanatory statement, which will be made available on the company's website, before making any investment decisions.