SBFC Finance Limited — Important, 25-01-2025: Updates

SBFC Finance Limited's Board of Directors has decided to pursue the voluntary liquidation of its wholly owned subsidiary, SBFC Home Finance Private Limited. This decision comes as the subsidiary, which aimed to operate as a housing finance company, was unable to secure the necessary approval from the RBI. Notably, SBFC Home Finance had not commenced any business or operations since its incorporation. Financially, for the last fiscal year, it reported a minimal revenue of Rs. 1 million and a negative net worth of Rs. 1.89 million, indicating its lack of substantial business activity.

Additionally, the Board acknowledged a fine imposed by the National Stock Exchange for delayed compliance related to a regulatory disclosure. Despite a technical error in submission, the Company has sought a waiver for the fine and requested a personal hearing to discuss the matter. Investors should watch closely as these developments could influence the company’s strategic direction and financial assessment moving forward.