Board Meeting12 Oct 2026, 07:10 pm
Typhoon Financial Services Board Approves Capital Increase & Borrowing Limit Hike
AI Summary
Typhoon Financial Services Ltd announced that its Board of Directors, in a meeting held on October 12, 2026, approved several significant corporate actions. These include alterations to the Memorandum of Association (MoA) to increase the authorized share capital from Rs. 3,25,00,000 to Rs. 5,55,00,000, and the adoption of a new MoA and Articles of Association in line with the Companies Act, 2013. Additionally, the Board approved an increase in its borrowing powers to Rs. 100 Crore, subject to shareholder approval via postal ballot. A postal ballot notice and the appointment of a scrutinizer were also approved.
Key Highlights
- Board approved increase in authorized share capital to Rs. 5.55 Crore.
- Borrowing powers to be increased to Rs. 100 Crore.
- Alterations to Memorandum and Articles of Association approved.
- Shareholder approval to be sought via postal ballot for key changes.
- Appointment of scrutinizer for postal ballot process confirmed.
Price Impact
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