Board meet on 31 October 2026 to consider statutory auditor change and inter-corporate loan
Fynx Capital has scheduled a Board meeting on Saturday, 31 October 2026.
By ScoutQuest · · 2 min read
- Board meeting date
- Saturday, 31 October 2026
- Resigning statutory auditor
- M/s. N.C. Vaishnav & Co.
- Proposed statutory auditor
- M/s. D M K H & Co.
What the update says
The company has informed BSE that its Board of Directors will meet on Saturday, 31 October 2026 to consider the following business.
- To take on record the resignation of M/s. N.C. Vaishnav & Co., Chartered Accountant, as the statutory auditor of the company
- To consider and approve the appointment of M/s. D M K H & Co., Chartered Accountant, as the statutory auditor
- To borrow an Inter-Corporate Loan from M/s. Billmart Fintech Private Limited
- To approve a Related Party Transaction with M/s. Billmart Fintech Private Limited
- To fix the day, date, time and venue for convening an Extraordinary General Meeting (EGM) and to approve the draft notice for it
- To appoint a Scrutinizer for the scrutiny of e-voting results and voting through poll to be carried out at the EGM
The company has said it will update the exchange about the outcome of the meeting immediately at its conclusion.
Why the auditor item stands out
The statutory auditor is the independent firm that reviews and signs off the company's financial statements. Here the board is only taking note of the outgoing auditor's resignation; the appointment of M/s. D M K H & Co. is an item to be considered and approved, not something already done. Investors typically watch auditor changes closely, and any formal disclosure of the reasons and the process followed would come separately.
Loan and related party angle
The board will consider borrowing an Inter-Corporate Loan from M/s. Billmart Fintech Private Limited. The same entity is also named in the Related Party Transaction item, which means it is treated as a related party of the company under applicable rules. Related party transactions usually need additional scrutiny and, depending on size, shareholder approval. Nothing in this intimation states the amount, interest rate, tenure or purpose of the proposed loan.
EGM groundwork
Two items relate to an Extraordinary General Meeting: fixing its schedule and approving the draft notice, and appointing a Scrutinizer to oversee e-voting and poll. An EGM is a shareholder meeting called outside the annual general meeting cycle, normally when a decision needs member approval. Setting one up at the same board meeting suggests some of the above matters may go to shareholders.
What to watch
- The outcome of the board meeting, which the company has said it will file
- Details of the auditor change, including the effective date and the reasons recorded
- The size and terms of the Inter-Corporate Loan and the nature of the related party transaction
- The EGM notice, which would spell out the resolutions and whether shareholder approval is sought
Also from Fynx Capital
Rights issue: draft letter of offer and in-principle application shared with BSE
27 Oct 2026
Statutory auditor N. C. Vaishnav & Co. resigns, will not audit FY 2026-27
27 Oct 2026
Board approves rights issue of up to Rs. 80,00,00,000 in 4:1 ratio
26 Oct 2026
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