Minolta Finance Limited’s Board of Directors convened on August 11, 2026, approving the unaudited financial results for the quarter ended June 30, 2026. A key resolution included approving the proposal to change the company’s name to Wagad Finance Limited, subject to shareholder and regulatory approvals. Other decisions included appointing a new tax auditor and approving the shifting of the registered office.
Board Meeting Outcomes
Minolta Finance Limited announced the outcomes of its Board of Directors meeting held on Tuesday, August 11, 2026. The board took several key decisions, including the approval of the unaudited financial results for the quarter that ended on June 30, 2026. This approval also encompassed the accompanying Limited Review Report from the Statutory Auditors, with authorization granted for their submission to the stock exchanges.
Strategic Name Change Approved
In a significant strategic move, the Board also approved a proposal to change the name of the Company from “Minolta Finance Limited” to “Wagad Finance Limited“. This change is subject to the necessary approvals from the shareholders and other statutory and regulatory authorities, including the Ministry of Corporate Affairs. This name change signals a potential shift in the company’s branding and strategic direction.
Other Key Approvals
Further, the Board approved the appointment of M/s. CGCA & Associates as the new Tax Auditors & Consultants for the Company, with Firm Registration No. 123393W/W100755. Additionally, the company will shift its registered office within the local limits of Kolkata, West Bengal, as per the Companies Act, 2013. In a separate resolution, the Board approved the shifting of the Registered Office from West Bengal (Kolkata) to Mumbai, Maharashtra, pending shareholder and regulatory approvals.
Annual General Meeting Preparations
The Board also approved the Notice convening the upcoming Annual General Meeting (AGM), the Board’s Report for the financial year ended March 31, 2026, and appointed a Scrutinizer for the AGM. The date, time, and venue for the AGM were also fixed. The meeting commenced at 3:00 PM and concluded at 3:45 PM.
Auditor’s Limited Review Findings
A limited review report by JCR & CO. LLP, Chartered Accountants, for the unaudited standalone financial results for the quarter ended June 30, 2026, was also presented. The report noted potential understatements in interest expense due to missing loan documents, which could not be quantified. Furthermore, the carrying value of investments in shares amounting to ₹62.87 lakhs could not be commented upon due to the absence of ownership documents. The auditors also highlighted issues with deducted Profession Tax not being remitted and the lack of mandatory professional tax registration. A ransomware cyber-attack on July 3rd, 2026, compromised financial data, though management believes no financial loss occurred.
Source: BSE
