Fusion Finance Seeks Reclassification Of Former Promoter To Public

04 Mar 2026 CW Team

Mr. Sachdev resigned as Managing Director with effect from 30 September 2025 and vacated his board position with effect from four November 2025, after which he has not been involved in the management or day to day affairs of the Company. The Company states that stakeholders were kept informed through timely stock exchange disclosures and formal communications with lenders. The reclassification request is described as reflecting the evolved management and control structure of the Company.

Shareholders approved amendments to the Articles of Association in January 2026 that removed special rights previously available to Mr. Sachdev, aligning the governance framework with the current professionally managed structure. The Company notified the stock exchanges of the reclassification request on 21 February 2026 and intends to place the matter before the board, seek the exchanges no objection or approval, and thereafter obtain shareholders' approval in compliance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These procedural steps are expected to formalise the classification change if approvals are granted.

Honey Rose Investments Ltd, Creation Investments Fusion LLC and Creation Investments Fusion II LLC will continue to be classified as promoters and will retain majority shareholding in the Company. The Company reiterated its commitment to high standards of corporate governance and regulatory compliance and said it will keep stakeholders informed as the reclassification process progresses. The Company also confirmed that the request follows prior governance changes and does not alter the existing promoter composition beyond the specific reclassification sought.

Fusion Finance Limited (the Company) has received a formal request from Mr. Devesh Sachdev and his family to reclassify their shareholding from the Promoter and Promoter Group category to the Public shareholder category. The request follows a structured leadership and governance transition undertaken by the Company over recent months. The board will consider the reclassification request in line with regulatory requirements and internal governance processes. Mr. Sachdev resigned as Managing Director with effect from 30 September 2025 and vacated his board position with effect from four November 2025, after which he has not been involved in the management or day to day affairs of the Company. The Company states that stakeholders were kept informed through timely stock exchange disclosures and formal communications with lenders. The reclassification request is described as reflecting the evolved management and control structure of the Company. Shareholders approved amendments to the Articles of Association in January 2026 that removed special rights previously available to Mr. Sachdev, aligning the governance framework with the current professionally managed structure. The Company notified the stock exchanges of the reclassification request on 21 February 2026 and intends to place the matter before the board, seek the exchanges no objection or approval, and thereafter obtain shareholders' approval in compliance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These procedural steps are expected to formalise the classification change if approvals are granted. Honey Rose Investments Ltd, Creation Investments Fusion LLC and Creation Investments Fusion II LLC will continue to be classified as promoters and will retain majority shareholding in the Company. The Company reiterated its commitment to high standards of corporate governance and regulatory compliance and said it will keep stakeholders informed as the reclassification process progresses. The Company also confirmed that the request follows prior governance changes and does not alter the existing promoter composition beyond the specific reclassification sought.

Real Estate

05 Aug 2026

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

Infrastructure Energy

05 Aug 2026

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Infrastructure Urban

05 Aug 2026

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..