Geetanjali Credit and Capital Ltd

Appointment of Independent Director

• Appointed Ms. Purti Katyal as Additional Independent Director, w.e.f. 25 Aug 2026, for five years, subject to approvals.

Committee Reconstitution

• Board approved reconstitution of various Board committees.

Board changes

• Shareholders did not approve appointments at AGM; directors deemed resigned.
• Past management directors deemed resigned; their tenure ceased effective 21 August 2026.
• New board: Avinash Verma and Vishnuji Ravaji Thakor appointed as Additional Executive Directors.
• Third director: Dhaval Jagdishbhai Vaghela appointed as Non-Executive Non-Independent Director.
• Appointments dated 21 August 2026; tenure up to next General Meeting or within three months.
• Overall present board comprises three directors per Table-A.

AGM details

• Date and time: 21 August 2026, 1:00 PM.
• Mode: VC/OAVM.
• E-voting window: 18–20 August 2026.
• Voting eligibility cut-off date: 14 August 2026.

Resolutions and outcomes

• Resolution 1: Adoption of financial statements; passed.
• Resolution 2: Increase in authorized share capital; not passed.
• Resolution 3: Appointment of MD Dharmendra Vyas; not passed.
• Resolution 4: Regularization of Jyoti Bairwa; not passed.
• Resolution 5: Regularization of Imran Saiyed; not passed.
• Resolution 6: Regularization of Kamlaben Salvi; not passed.
• Resolution 7: Regularization of Pradeep Kumar Agrawal; not passed.

Dividend

• No dividend proposed or declared.

Director changes

• No director changes approved; proposed regularizations were not passed.

Auditors

• No auditor appointments or changes announced.

Related-party transactions

• No material related-party transactions disclosed.

Other approvals

• No ESOPs, mergers, or charter amendments indicated.

AGM Details & Resolutions

• AGM held on 21 August 2026 at 01:00 PM via VC/OVAM.
• E-voting conducted from 18 to 20 August 2026; Scrutinizer appointed.
• Agenda included adoption of financial statements for the year.
• Increase in authorized share capital proposed.
• Appointment of Mr. Dharmendra Vyas as Managing Director.
• Regularization of Additional Independent Director Jyoti Bairwa.
• Regularization of Additional Independent Director Imran Saiyed.
• Regularization of Additional Director Kamlaben Salvi as Non-Executive Director.
• Regularization of Pradeep Kumar Agrawal as Non-Executive Independent Director.
• AGM started at 01:00 PM and concluded at 01:24 PM.
• Scrutinizer report to be uploaded on BSE within 48 hours.
• Shareholders reported e-voting issues; extension request not granted.

Appointment: Avinash Verma

• Avinash Verma appointed as Additional Executive Director; profile: 5+ years in accounting/taxation; 21 Aug 2026 until shareholder approval.

Appointment: Vishnuji Ravaji Thakor

• Vishnuji Ravaji Thakor appointed as Additional Executive Director; profile: Marketing and Sales knowledge; 21 Aug 2026.

Appointment: Dhaval Jagdishbhai Vaghela

• Dhaval Jagdishbhai Vaghela appointed as Additional Director (Non-Executive Non-Independent); profile: capital markets/investments expertise; 21 Aug 2026.

Board appointments and committee changes

• Bharatbhai Laljibhai Thakor appointed as Additional Executive Director w.e.f 21 Aug 2026; tenure until shareholders' approval.
• Amitaben Umesh Baraiya appointed as Additional Non-Executive Non-Independent Director w.e.f 21 Aug 2026; tenure until shareholders' approval.
• Purti Katyal appointed as Additional Non-Executive Independent Director w.e.f 21 Aug 2026; tenure until shareholders' approval.
• Board approved re-constitution of various Board Committees.

Authorized capital increase

• Board approved increasing authorized capital to Rs 95 crore from Rs 5 crore, subject to AGM approval.
• Corrects inadvertent typographical error in earlier disclosure.

Auditor remarks

• Emphasis: recoverability of Rs 275.67 Lakh loans long outstanding; confirmations not received.
• Interest income recorded not in line with RBI NPA norms.
• Provisioning for long-outstanding loans not per RBI NPA norms; documentary evidence missing.
• Tax demand outstanding of Rs 529.75 Lakh; no documentary evidence on pending proceedings.
• Investments as at 30 Jun 2026 could not be verified; supporting records not presented.
• Auditors' conclusion not modified regarding investments matter.
• There are no reportable segments per Ind AS; management deems non-reportable information not useful.
• Statutory auditors conducted a limited review under SEBI Reg 33; results prepared under Ind AS 34.
• Date: 24 July 2026; Ahmedabad.

Financial results approved

• Unaudited quarterly results for quarter ended 30 June 2026 approved, with Limited Review Report.
• Board approval followed Audit Committee review.

Auditor remarks and material issues

• Emphasis of Matter: recoverability of loans not verifiable due to balance confirmations and RBI NPA concerns.
• Tax demand of Rs. 529.75 Lakhs outstanding; no documentary evidence of proceedings available.
• Investments as at 30 June 2026 could not be verified; records not provided.

ED resignation

• Ashok Kumar Mathur resigned as Executive Director, effective 17 July 2026, due to pre-occupation; no other material reasons.

Independent Director appointment

• Pradeep Kumar Agrawal appointed Non-Executive Independent Director from 17 July 2026 for five years to 16 July 2031.

Board committee reconstitution

• Board approved reconstitution of various board committees.