GOVERNANCE SUITE
FinPilot Technologies — Governance Console
Board management · investor rights · MIS reporting · shareholder consents · related-party disclosures · covenant tracker
Governance Health
80
/100
Good Standing
Board Members
5
3 founders · 1 nominee · 1 independent
Meetings YTD
4 / 4
Quarterly requirement met
SHA Version
v2
Executed Jan 14, 2024
MIS Status
Overdue
Nov 2024 · 22 days late
Open Consents
3
Pending board / shareholder action
Covenant Breaches
1
MIS overdue — remedy now
Resolutions YTD
17
All passed · none contested
SHA Covenant Breach — Nov 2024 MIS overdue by 22 days. Monthly Management Information System reports are due within 10 days of month-end per SHA Schedule 2. Sequoia Surge (investor nominee Vikram Kapoor) has been notified. Submit immediately to cure the breach.
Board Composition
5 directors · all DIN verified
| Director | DIN | Type | Since | Role | Status |
|---|---|---|---|---|---|
|
AM
Arjun Mehta
|
09123456 | Founder Director | Jan 15, 2021 | CEO | Active |
|
PN
Priya Nair
|
09123457 | Founder Director | Jan 15, 2021 | CTO | Active |
|
RD
Rohan Desai
|
09123458 | Founder Director | Jan 15, 2021 | COO | Active |
|
VK
Vikram Kapoor
|
07654321 | Investor Nominee (Sequoia Surge) | Feb 10, 2024 | Board Member | Active |
|
DK
Dr. Kavitha Rao
|
06789012 | Independent Director | Mar 1, 2024 | Independent | Active |
Next Board Meeting
BM-2025-01 — Q1 2025
Date
Mar 15, 2025
Days Away
53 days
Agenda
Not uploaded yet
Notice
Pending (21-day notice required)
SHA Version Tracker
SHA v1 (Term Sheet)
Sep 1, 2023 · Sequoia Surge, All Founders
SHA v2 (Execution copy)
Jan 14, 2024 · Sequoia Surge, All Founders, IDs
Meeting Log
All board meetings and general meetings
| Ref | Type | Date | Quorum | Resolutions | Minutes | Status | |
|---|---|---|---|---|---|---|---|
| BM-2025-01 | Board Meeting | Mar 15, 2025 | TBD | — | Pending | Scheduled | |
| BM-2024-04 | Board Meeting | Dec 15, 2024 | Yes | 3 | Uploaded | Held | |
| AGM-2024-01 | Annual General Meeting | Sep 30, 2024 | Yes | 4 | Uploaded | Held | |
| BM-2024-03 | Board Meeting | Sep 20, 2024 | Yes | 5 | Uploaded | Held | |
| BM-2024-02 | Board Meeting | Jun 18, 2024 | Yes | 2 | Uploaded | Held | |
| BM-2024-01 | Board Meeting | Mar 12, 2024 | Yes | 3 | Uploaded | Held |
Investor Rights Register
All rights granted under Series A SHA v2 — Jan 14, 2024
| Right | Category | Holder | Round | SHA Reference | Status | Notes |
|---|---|---|---|---|---|---|
| Information Rights (MIS + Cap Table quarterly) | Information | Sequoia Surge | Series A | SHA Schedule 2 Cl. 4.1 | Active | MIS Nov 2024 overdue — breach risk |
| Pro-rata Rights (Series B and beyond) | Pro-rata | Sequoia Surge | Series A | SHA Schedule 2 Cl. 5.2 | Active | Maintain ≤ 24.9% to trigger right |
| Board Seat (1 nominee) | Board Seat | Sequoia Surge | Series A | SHA Cl. 8.1 | Active | Vikram Kapoor currently nominated |
| Reserved Matters (veto list) | Protective | Sequoia Surge | Series A | SHA Schedule 3 | Active | 14 reserved matters — see schedule |
| Anti-dilution (Broad-based WA) | Anti-dilution | Sequoia Surge | Series A | SHA Cl. 6.3 | Active | Broad WA formula on down-rounds |
| Drag-along (75% majority) | Drag-along | All holders | Series A | SHA Cl. 9.1 | Active | 75% of all share classes required |
| Tag-along (pro-rata to sold shares) | Tag-along | Sequoia Surge | Series A | SHA Cl. 9.2 | Active | Triggers on any secondary sale |
| ROFR (14-day window) | ROFR | Sequoia Surge | Series A | SHA Cl. 9.3 | Active | Right of first refusal on transfers |
Reserved Matters (SHA Schedule 3)
Actions requiring Sequoia Surge written consent
1
Amend MOA / AOA
2
Issue new shares or alter capital structure
3
Declare or pay any dividend
4
Incur debt > ₹2 Crore
5
Acquire or dispose of assets > ₹1 Crore
6
Enter into related-party transactions > ₹25 L
7
Change in business activity or scope
8
ESOP pool increase beyond 8%
9
Appoint or remove the CEO/CTO/CFO
10
Enter into M&A or merger discussions
11
Initiate or settle litigation > ₹50 L
12
Change auditors
13
Approve annual budget (± 20% variance)
14
Any IPO or listing decision
Reporting Obligations
All scheduled investor and board reporting under SHA v2
| Report | Frequency | Recipient | Next Due | Last Submitted | Status | Notes |
|---|---|---|---|---|---|---|
| Monthly MIS (P&L + CF + Cash) | Monthly | Sequoia Surge | Jan 10, 2025 | Oct 2024 submitted | Overdue | Nov 2024 overdue by 22 days |
| Quarterly Board Pack | Quarterly | All Board | Mar 15, 2025 | Dec 2024 submitted | Upcoming | Q1 pack due with BM-2025-01 |
| Annual Audited Financials | Annual | Sequoia Surge | Sep 30, 2025 | Sep 30, 2024 ✓ | Filed | M/s Deloitte — FY 2024-25 due |
| Cap Table Update (on event) | On event | Sequoia Surge | On change | Jan 22, 2024 ✓ | Filed | Next update: Tranche 3 allotment |
| Utilisation Report (per tranche) | Per tranche | Sequoia Surge | Mar 31, 2025 | Jun 2024 ✓ | Upcoming | Tranche 3 triggers new report |
| Compliance Certificate (quarterly) | Quarterly | Sequoia Surge | Jan 31, 2025 | Oct 2024 ✓ | Upcoming | Q3 cert due by month-end |
MIS Submission History
Monthly P&L + CF + Cash metrics sent to Sequoia Surge
| Period | Revenue | Burn | Runway | MRR | YoY Growth | Status | |
|---|---|---|---|---|---|---|---|
| Oct 2024 | ₹92 L | ₹38 L | 28 mo | ₹92 L | 3.2× | submitted | |
| Sep 2024 | ₹85 L | ₹35 L | 29 mo | ₹85 L | 3.1× | submitted | |
| Aug 2024 | ₹80 L | ₹34 L | 31 mo | ₹80 L | 3.0× | submitted | |
| Nov 2024 | — | — | — | — | — | Overdue |
MIS template: P&L (month + YTD) · Balance Sheet snapshot · Cash Flow · Burn rate · Runway · MRR/ARR · Key KPIs · Compliance status · Next milestone
Pending Consents
Actions requiring board or shareholder approval
Completed Consents
| Action | Consent Type | Due | Resolved | Notes | Status |
|---|---|---|---|---|---|
| VP Sales employment agreement | Board Noting | Jan 10, 2025 | Jan 8, 2025 | Noted in BM-2024-04 | Completed |
| Auditor re-appointment (Deloitte) | Shareholder Ordinary | Sep 30, 2024 | Sep 30, 2024 | Passed at AGM-2024-01 | Completed |
| Series A CCPS allotment | Board + Shareholder | Sep 20, 2024 | Sep 20, 2024 | Passed at BM-2024-03 — allotment complete | Completed |
1 undisclosed related-party transaction identified. The cloud vendor relationship (Nimbus Cloud Pvt. Ltd.) must be disclosed to the board by Jan 31, 2025 per SHA Cl. 12.3. Failure to disclose may constitute a reserved-matter breach.
Related Party Register
All transactions with connected parties — SHA Cl. 12.3
| Party | Connection | Relationship | Disclosure | Value | Status |
|---|---|---|---|---|---|
| Cloud Infrastructure Vendor (Nimbus Cloud Pvt. Ltd.) | Rohan Desai (Founder COO) | Cousin owns 42% of Nimbus Cloud | Pending disclosure | ₹4.2 L/year | Pending Disclosure |
| Legal Retainer — M/s Patel & Associates | Arjun Mehta (Founder CEO) | Arjun's ex-colleague is managing partner | Disclosed — BM-2024-01 | ₹6 L/year | Disclosed |
Conflict of Interest Register
Director disclosures under Companies Act 2013 S.184
Arjun Mehta — Investor in CompetitorCo Pvt. Ltd. (0.5% angel)
Disclosed at incorporation · No material conflict
All other directors — No conflicts to disclose
Annual declaration filed Sep 30, 2024
SHA Covenant Compliance
All ongoing obligations under SHA v2 — Sequoia Surge Series A
CovenantCategoryCurrent StatusNotes
Minimum cash runway ≥ 6 months
Financial
✓ 28 months
Compliant — well above threshold
Monthly MIS within 10 days of month
Reporting
✗ Nov overdue
Breach — 22 days late — remedy immediately
Board meeting ≥ once per quarter
Governance
✓ Mar 15 next
On track — Q1 2025 scheduled
Compliance certificate quarterly
Compliance
⚠ Jan 31 due
Q3 cert due in 10 days
Notify investor of material events
Notification
✓ Current
No unreported material events
Cap table update on any issuance
Cap Table
✓ Current
Last updated Jan 22, 2024 post-allotment
FEMA/RBI filings within 30 days
Regulatory
✓ Compliant
FC-GPR filed for all allotments
5
Compliant
All within threshold
1
Due Soon
Compliance cert Jan 31
1
Breach
MIS Nov 2024 overdue