Cubical Financial Services: Independent Directors Recommend to Public Shareholders

Corporate Makers Capital Limited, acting as the Manager to the Offer, has submitted a recommendation from the Committee of Independent Directors (IDC) to the Public Shareholders of Cubical Financial Services Ltd. This submission includes a Pre-Offer Advertisement published in Business Standard (Hindi & English editions) on September 16, 2026, in compliance with SEBI (Acquisition of Shares and Takeovers) Regulations, 2011. The filing also contains a public notice from IIFL Finance Limited regarding a court case in Mumbai, detailing service of notice issues and court orders for newspaper publication. Additionally, the filing touches upon an inquiry into alleged financial irregularities amounting to ₹198 crore concerning the IT department's data center and related services of the Mumbai Municipal Corporation between 2018-2021, with investigations ongoing.