Disclosure under Regulation 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Notice under Section 201 of the Companies Act, 2013
Awaiting price reaction for this filing.
SBI Cards and Payment Services Limited has published newspaper advertisements in Business Standard (English and Hindi editions) on May 16, 2025, as required under Section 201 of the Companies Act, 2013. The company intends to seek Central Government approval for appointing Smt. Salila Pande (DIN: 10941529) as Managing Director & CEO for a 2-year term from April 1, 2025 to March 31, 2027. The appointment was approved by the Board of Directors and the Nomination and Remuneration Committee on February 17, 2025, and received shareholders' approval on May 9, 2025. The public notice invites objections, if any, to be sent to the Ministry of Corporate Affairs within 30 days of publication.
This is a procedural regulatory filing to formalize the appointment of the new MD & CEO. The 2-year tenure suggests a transitional leadership arrangement. Shareholders should note the leadership change, but no immediate financial impact is expected from this disclosure.