SBFC Finance Limited — Board Meeting, 25-01-2025: Outcome of Board Meeting

SBFC Finance Limited has held a board meeting where it decided to initiate the voluntary liquidation of its wholly-owned subsidiary, SBFC Home Finance Private Limited, as it has not commenced any business or operations since its incorporation. This move comes after the Reserve Bank of India did not approve its application for registration as a Housing Finance Company. The board also acknowledged a fine imposed by the National Stock Exchange for delayed compliance with certain listing regulations and noted its application requesting a waiver of the fine. The financial impact of SBFC Home Finance's liquidation is minimal, contributing only 0.01% to the group's revenue.