JMJ FinTech Limited’s Board of Directors has approved a proposal to increase the company’s loan limit/financial assistance to ₹15 Crores from the previous ₹10 Crores for JMJ Finance Limited. Additionally, the board approved the appointment of Mrs. Shiny Joju as Executive Director and the re-appointment/re-designation of Mr. Johny Madathumpady Lonappan and Mr. Joju Madathumpady Johny to new directorship roles. The company also plans to raise ₹7 Crores through Non-Convertible Debentures.
Strategic Financial and Governance Approvals
JMJ FinTech Limited announced significant outcomes from its Board Meeting held on October 22, 2026. Key approvals include a proposal to enhance the financial assistance limit to its related party entity, JMJ Finance Limited, from ₹10 Crores to ₹15 Crores. This increase is subject to shareholder approval via postal ballot.
New Director Appointments and Re-designations
The Board also approved the appointment of Mrs. Shiny Joju (DIN: 08205263) as an Executive Director (Whole-time Director). Furthermore, Mr. Johny Madathumpady Lonappan (DIN: 00017895) has been re-appointed and re-designated from Executive Chairman to Executive Director, effective December 1, 2026. Similarly, Mr. Joju Madathumpady Johny (DIN: 02712125) has been re-appointed and re-designated from Managing Director to Chairman & Managing Director, effective December 9, 2026. All these appointments and re-designations are subject to shareholder approval via postal ballot and, where applicable, prior written approval from the Reserve Bank of India.
Debt Issuance Plans
In a move to bolster its financial resources, JMJ FinTech Limited has also approved the issuance of Secured, Unlisted, Unrated, Redeemable Non-Convertible Debentures (NCDs) aggregating up to ₹7,00,00,000/- (Rupees Seven Crores Only). This issuance will be on a private placement basis. The Board has finalized the core terms and conditions for this issuance, including the appointment of IDBI Trusteeship Services Limited as the Debenture Trustee.
Shareholder Approval Process
To facilitate these proposals, the company has approved the draft Postal Ballot Notice, Explanatory Statement, and Calendar of Events. The cut-off date for determining the eligibility of members to receive the Postal Ballot Notice and vote electronically has been fixed as Friday, October 23, 2026. M/s. Lakshmmi Subramanian & Associates have been appointed as Scrutinizers for the e-voting process.
Detailed Disclosures
Detailed profiles of the appointed and re-designated directors, including their relevant experience and relationships, are provided in Annexure I. Further details regarding the NCD issuance, such as the type of securities, issue size, and interest rates, are outlined in Annexure II. The profiles of Mrs. Shiny Joju, Mr. Johny Madathumpady Lonappan, and Mr. Joju Madathumpady Johny are further elaborated in Annexures III, IV, and V respectively.
Source: BSE
