annual report of the company

Date: 02nd September, 2026 The Department of Corporate Services, BSE Limited Phiroze, Jeejeebhoy Towers, Dalal Street, Mumbai - 400001 Ref.: Scrip Code- 509053 Sub: Submission of Annual Report of the Company for the Financial Year 2025-2026 pursuant to Regulation 34 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) Dear Sir(s), In terms of Regulation 34(1) of the Listing Regulations, please find enclosed the Annual Report for the Financial Year 2025-26 along with the Notice of the Annual General Meeting being dispatched to shareholders of the Company through electronic mode whose e-mail addresses are registered with the Company/Depository Participants/Registrar and Transfer Agent. The 43rd Annual General Meeting (‘AGM’) of the Company will be held on Thursday, 24th September, 2026 AT 02.00 P.M. through Video Conference/Other Audio Visual Means, in accordance with the General Circular dated September 22, 2025 read together with circulars dated April 8, 2020, April 13, 2020, May 5, 2020, January 13, 2021, December 8, 2021, December 14, 2021, May 5, 2022, December 28, 2022, September 25, 2023 and September 19, 2024 (collectively referred to as “MCA Circulars”), permitted convening the Annual General Meeting (“AGM” / “Meeting”) through Video Conferencing (“VC”) or Other Audio Visual Means (“OAVM”), without physical presence of the members at a common venue. In accordance with the MCA Circulars and applicable provisions of the Companies Act, 2013 (“Act”) read with Rules made thereunder and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), the AGM of the Company is being held through VC / OAVM. The deemed venue for the AGM shall be the registered office of the Company. The Annual Report of the Company is also available on the website of the Company at https://banasfinance.wordpress.com. Kindly take the aforesaid information on record in compliance of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015. We request you to kindly take the above on your record. Thanking You Yours Faithfully, For Banas Finance Limited Prajna Naik Company Secretary BANAS Finance Limited 4 3 RD A N N U A L G E N E R A L M E E T I N G 2025-26 Registered office: E-109, Crystal Plaza, New Link Road, Andheri (W), Mumbai- 400053 Website: https://banasfinance.wordpress.com Email: banasfin@gmail.com [Type text] Page 1 BANAS 43RD ANNUAL GENERAL MEETING FINANCE LIMIT FY 2025-2026 Non-banking financial company (NBFC) sector has vital role in the growth that India has experienced over the last couple of years. NBFCs have been instrumental in offering formal credit to the underserved retail and micro, small and medium enterprises (MSME) segment, thereby increasing the contribution of these segments to India’s overall GDP. In the last couple of months, the sector has witnessed an acute liquidity situation which, to some extent, has been alleviated through measures taken by the RBI and the government to boost lending to NBFCs. While the larger NBFCs (AAA category) with strong parentage are in a better position to deal with the current problems, the smaller ones have been impacted the most in their ability to sustain their business because of the liquidity crunch. With the traditional sources of capital drying up, several NBFCs are raising capital through securitization of assets for lack of other quick and viable fund-raising options. NBFCs focused on infrastructure and real estate lending is experiencing stress in their loan books as evidenced by the growing level of non- performing assets (NPAs). We strongly believe that a healthy NBFC sector is instrumental in maintaining India’s growth momentum and achieving the target of a USD 5 trillion Indian economy by 2028. NBFCs have shown resilience in the past in dealing with such downturns through business innovation. In light of new regulations, it would be interesting to see how the story unfolds for the NBFC sector in the next couple of months. Particulars Page Corporate Information & other Details 2-5 Notice of 43rd Annual General Meeting of the Company 6-17 Board of Directors’ Report 18-24 Annexure to Directors’ Report Form MR-3 Secretarial Audit Report – Annexure I 25-27 Form AOC-1 (Salient features of Associate Company) – Annexure II 28 Form AOC-2 (Related Party Transaction) – Annexure III 29 Particulars of Employees and Related Information – Annexure IV 30 Certificate of non-Disqualification of Director Report 31 Corporate Governance Report 32-39 Certificate of Compliance (Corporate Governance) from Auditors as per Schedule V(E) of LODR, 40 2015 Management Discussion and Analysis Report 41-43 CEO/CFO Certification 44 Declaration regarding Compliance by Board Members and Senior Management Personnel with 45 the Code of Conduct Standalone Independent Auditors’ Report and its Annexure’s 46-50 Non-Banking Financial Companies Auditor’s Report (Reserve Bank) Directions, 2008” 51-58 Standalone Balance Sheet 59 Standalone Profit & Loss A/c 60 Standalone Cash Flow Statement 61 Notes Forming part of Standalone Financial Statements 62-82 Consolidated Independent Auditor’s Report 83-89 Consolidated Balance Sheet 90 Consolidated Profit& Loss A/c 91 Consolidated Cash Flow Statement 92 Notes Forming part of CFS Financial Statements 93-112 BANAS 43RD ANNUAL GENERAL MEETING FINANCE LIMIT FY 2025-2026 BOARD OF DIRECTORS: REGISTAR & TRANSFER AGENT: Mr. Girraj Kishor Agrawal -Executive Director PURVA SHAREREGISTRY (INDIA) PVT LTD. Mrs. Tanu Agrawal - Executive Director & CEO 9, Shiv Shakti Industrial Estate, Mr. Vikash Kulhriya - Independent Director J.R. Boricha Marg, Lower Parel (E), Mumbai – 400011 Mr. Ashish Kachhara - Independent Director Tel: 022-23010771/49614132 Mr. Anant Chourasia - Non-Independent Director Email Id: support@purvashare.com Mr. Mayank Borana - Independent Director KEY MANAGERIAL PERSONNEL: LISTING OF EQUITY SHARES: BSE LIMITED Mr. Amit Mehta (Resigned w.e.f. 31.03.2026) Phiroze Jeejeebhoy Towers Dalal Street, Mr. Praveen Jangid– CFO (Appointed w.e.f. Mumbai–400001 29.06.2026) Ms. Prajna Naik–Company Secretary STATUTORY AUDITORS: SCRIP CODE: M/s A K Kocchar & Associates 509053 INTERNAL AUDITORS: REGISTERED OFFICE: Mr. Ronak Ashok Surani E/109, Crystal Plaza, New Link Road, Andheri (West), SECRETARIAL AUDITORS: Mumbai: 400053 CIN: L65910MH1983PLC030142 M/S Jay Bhatt & Associates Tel: 9152096140 /022 66921199 Practicing Company Secretaries Email Id: banasfin@gmail.com Website: https://banasfinance.wordpress.com ISIN: INE521L01030 LEGAL ENTITY IDENTIFIER 98450060612DO959F316 PRINCIPLE BANKERS: RBL Bank Ltd. Au Small Finance Bank Ltd. Yes Bank Ltd. BANAS 43RD ANNUAL GENERAL MEETING FINANCE LIMIT FY 2025-2026 EXEMPTION FROM REQUIREMENT OF DISPATCHING THE PHYSICAL COPIES OF THE ANNUAL REPORT: MCA has vide General Circular no. 09/2024 dated 19th September 2024 read with General circular No. 20/2020, dated 05.05.2020, General circular No. 02/2022, dated 05.05.2022, General Circular No. 28.12.2022, and General circular No. 09/2023 dated 25th September 2023 has relaxed the requirements of sending notices required in terms of Section 101 read with Rule 19 of the Companies (Management and Administration) Rules, 2014. In similar lines, it is requested to exempt the companies from the requirements of the dispatch of the annual reports in physical form as envisaged under Sections 136 of the Companies Act, 2013 and rules framed thereunder. According to the Circular of MCA the company will sent Notice of AGM and Annual Report to all the members through email registered with the records of the company and company request to the members whose email id is not registered in the records of Company/RTA they should get register their email id with Company/RTA, the members whose Email Id is not registered with company/RTA can download the copy of AGM Notice and Ann [Showing first 8,000 characters — download PDF for full document]