Intimation of Outcome of Board Meeting as details requested by BSE
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The board approved unaudited financial results for Q3 FY26 (quarter ended 31 December 2025). Two Poddar family directors — Managing Director Ranjan Kumar Poddar and Non-Executive Non-Independent Director Devashish Poddar — resigned for personal reasons, effective 14 January 2026. In their place, Mr. Naresh Kumar Magoo (an external appointee with no disclosed director relationships) was named as the new Managing Director for a 5-year term from 11 February 2026, subject to EGM approval. Ms. Chandra Lekha Poddar was appointed as Additional Director and Non-Executive Chairperson, and Mr. Shiv Poddar (son of existing director Ms. Malvika Poddar) was appointed as Additional Non-Executive Director. The board also reconstituted the NRC, Audit Committee, and Stakeholders Relationship Committee with independent directors, approved a scrutinizer, and called an EGM to seek shareholder approval for the new MD appointment.
This is a major leadership reshuffle at a small NBFC, with the promoter Poddar family partially exiting (MD, one director) and partially re-entering (new Chairperson and Shiv Poddar as director), while an external professional takes the MD seat. Investors should watch the EGM outcome for shareholder approval and review Q3 results for business performance continuity.