SKS Microfinance Ltd has sought shareholders’ approval for shifting the registered office from Andhra Pradesh to Maharashtra.
The Hyderabad-based company has served a postal ballot notice to the sharedholders in this regard, according to a disclosure to the Bombay Stock Exchange.
Though it only mentions Maharashtra as the proposed location for the new registered office, SKS had hinted earlier that it could be Mumbai.
Citing the AP Microfinance (Regulation of Moneylending) Act, 2010 and subsequence halt to MFI operations in the State, SKS said the proposal to move out of Andhra Pradesh was “to explore new areas of business’’.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.