Fusion Finance Seeks Reclassification Of Sachdev Family

05 Mar 2026 CW Team

Fusion Finance Limited (the Company) on 23 February 2026 said it has received a formal request from Mr Devesh Sachdev and his family members seeking reclassification of their status from promoter and promoter group to the public shareholder category. The Company described the request as reflecting changes to its management and control structure following a governance transition.

The request follows a structured leadership and governance transition implemented over several months. Mr Sachdev resigned as Managing Director with effect from 30 September 2025 and subsequently stepped down from the board with effect from four November 2025, and he has not been involved in management or day-to-day affairs since. The Company said it had kept stakeholders informed through timely stock exchange disclosures and formal communications with lenders.

In January 2026 shareholders approved amendments to the Articles of Association that removed special rights previously available to Mr Sachdev and aligned the governance framework with the Company's professionally managed structure. The reclassification is presented as a logical progression of those changes to ensure that shareholding classification accurately reflects management control. The Company has intimated the stock exchanges about the request on 21 February 2026 and said the matter will be placed before the board, followed by an application to the stock exchanges for no objection and shareholders' approval in compliance with the applicable regulations.

Other promoter entities, namely Honey Rose Investments Limited, Creation Investments Fusion LLC and Creation Investments Fusion II LLC, will continue to be classified as promoters and will retain majority shareholding. Fusion Finance Limited reaffirmed its commitment to high standards of corporate governance, regulatory compliance and transparent stakeholder communication and said it will keep stakeholders informed as the reclassification process progresses.

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