The Board of Directors of IIFL Capital Services Limited, in a meeting held on March 24, 2026, approved a significant enhancement of the company’s borrowing limits. The Board sanctioned the increase of borrowing powers up to ₹7,000 crores under two separate sections of the Companies Act, 2013. Both proposals are now subject to subsequent approval from the shareholders of the company.
Outcome of Board Meeting on March 24, 2026
The Board of Directors of IIFL Capital Services Limited convened today, Tuesday, March 24, 2026, to consider and approve key resolutions affecting the company’s financial structure. The meeting commenced at 10:30 a.m. and concluded shortly after at 11:00 a.m.
Approval of Enhanced Borrowing Limits
The primary approvals granted by the Board centered on increasing the company’s maximum borrowing capacity. Two distinct proposals were approved:
- The first resolution involves the increase in the borrowing limits up to ₹7,000 crores (Rupees Seven Thousand Crores only) under Section 180(1)(c) of the Companies Act, 2013.
- The second resolution covers an increase in limits up to ₹7,000 crores (Rupees Seven Thousand Crores only) under Section 180(1)(a) of the Companies Act, 2013.
It is important to note that both increases are contingent upon receiving the necessary approval from the shareholders of the Company.
Conclusion
The Company Secretary, Meghal Shah, confirmed these outcomes following the meeting. The resolutions will now be presented to the shareholders for ratification as per applicable corporate governance norms.
Source: BSE
