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SBFC Finance informs about outcome of board meeting

28 Feb 2025 Evaluate
SBFC Finance has informed that the Board of Directors of the Company at its meeting held today 28th February, 2025, has considered and approved the following: Appointment of Mahesh Dayani, (DIN: 06561389) as an Additional Director of the Company and Whole-time Director designated as ‘Executive Director’ Based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of the Company, at their meeting held today, appointed Mahesh Dayani, Chief Business Officer of the Company (DIN: 06561389) as an Additional and Whole-time Director, designated as ‘Executive Director’ of the Company, for a term of five consecutive years commencing from 28th February, 2025 upto 27th February, 2030, subject to the approval of the shareholders. Mahesh Dayani would also be a Key Managerial Personnel (KMP) of the Company with effective from 28th February, 2025. The Company would be seeking the approval of the Members for the aforesaid appointment by Postal Ballot in accordance with Sections 110 and other applicable provisions, if any, of the Companies Act, 2013, (‘Act’) read with the Companies (Management and Administration) Rules, 2014. The Company has fixed 28th February, 2025 as the cut-off date for ascertaining the list of Members to whom the Postal Ballot Notice will be sent and also for reckoning the voting rights. Pursuant to BSE Circular with ref. no. LIST/COMP/14/2018- 19 and the National Stock Exchange of India Limited Circular with ref. no. NSE/ CML/2018/24, both dated 20th June 2018, also confirmed that Mahesh Dayani (DIN: 06561389) is not debarred from holding the office of Director by virtue of order of SEBI or any other such authority. The disclosures as required under Regulation 30 of the SEBI Listing Regulations read with SEBI Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024, concerning the above appointment is enclosed as Annexure A to this intimation. The Board Meeting commenced at 11.30 AM (IST) and concluded at 11.45 AM (IST) today.

The above information is a part of company’s filings submitted to BSE.

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