Pasupati Fincap Ltd. Recommends Share Capital Reduction, Plans Name Change, Appoints New Director

Pasupati Fincap Ltd. Recommends Share Capital Reduction, Plans Name Change, Appoints New Director​

Pasupati Fincap Limited announced at a board meeting held on March 26, 2026, a proposal to reduce its share capital due to accumulated business losses. The board recommends a Scheme of Arrangement for the reduction, which will be presented for shareholder approval at an Extraordinary General Meeting (EGM). The scheme involves writing off accumulated losses against the share capital on a pro-rata basis for all shareholders.

The company also approved a change of name from Pasupati Fincap Limited to Harmanshi Appliances Co. Limited, also subject to shareholder approval at the ensuing EGM.

Mrs. Rakhi Sharma (DIN: 00333120) has been appointed as an Additional Director (Non-Executive and Independent) for a term of five consecutive years, effective February 26, 2026. The company has scheduled an EGM for April 24, 2026, at 12:00 P.M. (IST Time). M/s. Akash & Co. has been appointed as the Scrutinizer for the remote e-voting and voting during the EGM. The ‘Cut-off Date’ for determining members eligible to vote has been set for April 18, 2026.

The proposed Scheme of capital reduction contemplates the cancellation and extinguishment of 44,65,000 fully paid-up equity shares of ₹10 each. This will reduce the Company's paid-up equity share capital from ₹4,70,00,000 comprising 47,00,000 equity shares to ₹23,50,000 comprising 2,35,000 equity shares. The company intends to set off ₹4,46,50,000 out of the accumulated losses totaling ₹5,35,37,249.50 against the reduced share capital.

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