Mangal Credit Declares Voting Results of 64th AGM: Approves Dividend & Loan Facilities
Mangal Credit's 64th AGM passed all resolutions, including a final dividend of ₹0.75 per share. Approvals were given for loans up to ₹250 crore and ₹50 crore, an increase in authorized capital to ₹30 crore, enhanced borrowing limits to ₹1,500 crore, and preferential allotment of warrants.
The approvals for substantial loan facilities, increased borrowing limits, capital enhancement, and warrant issuance have a significant impact on the company's financial structure and future operations.
The company successfully passed all resolutions at its AGM, including the declaration of a dividend and significant financial and corporate actions, indicating positive shareholder support.
Mangal Credit and Fincorp Limited announced the voting results of its 64th Annual General Meeting (AGM) held on Tuesday, September 22, 2026. The company confirmed that all resolutions presented at the AGM were duly passed with the requisite majority.
Key resolutions approved include the adoption of the annual audited financial statements for the financial year ended March 31, 2026, and the declaration of a final dividend of ₹0.75 per equity share. Additionally, the shareholders approved the re-appointment of Mr. Hardik Meghraj Jain as a director.
Significant approvals were also granted for material related party transactions, including a loan facility of up to ₹250 crore to Mr. Meghraj Sohanlal Jain and up to ₹50 crore to Mr. Hardik Meghraj Jain for the financial year 2026-27. The company also received approval to increase its authorized share capital from ₹25 crore to ₹30 crore, and to enhance its borrowing limits from ₹750 crore to ₹1,500 crore under Section 180(1)(c) of the Companies Act, 2013. Furthermore, the creation of a charge on the company's assets under Section 180(1)(a) was approved, along with the creation, offer, issue, and allotment of up to 25,00,000 convertible equity warrants on a preferential basis.
The voting details and the Scrutinizer's Report are available on the company's website, www.mangalfincorp.com.
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Mangal Credit and Fincorp Limited filed this with the NSE as a statutory disclosure, categorised under agm. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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