Board Meeting17 Jun 2026, 07:20 pm
RLF Board Approves ₹1.36 Cr Promoter Loan-to-Equity Conversion
AI Summary
RLF Ltd's Board of Directors, at its meeting on June 17, 2026, approved the conversion of outstanding unsecured loans aggregating up to ₹1.365 crore from Managing Director Aditya Khanna and Director Ashish Khanna into equity shares. This preferential issue will involve allotting 1.3 million equity shares of ₹10 face value at an issue price of ₹10.50 per share to the promoter group. The Board also approved the adoption of a new set of Articles of Association (AOA) as per the Companies Act, 2013, and resolved to convene an Extra-Ordinary General Meeting (EGM) to seek shareholder approvals for these proposals. Mr. Sumit Bajaj was appointed as the scrutinizer for the EGM's e-voting process.
Key Highlights
- Board approved conversion of ₹1.365 Cr unsecured loans from promoters into equity.
- 1.3 million equity shares to be issued to promoter group at ₹10.50 per share.
- New Articles of Association adopted, subject to shareholder approval.
- EGM to be convened for shareholder approvals of the proposals.
- The loan conversion is a related party transaction involving the MD and Director.
Price Impact
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