Fedbank Financial Services Limited has informed the Exchange regarding Cessation of Mr. Maninder Singh Juneja as Non- Executive Nominee Director of the company w.e.f. May 14, 2026.
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Mr. Maninder Singh Juneja, Non-Executive Nominee Director representing True North Fund VI LLP, has resigned from the board of Fedbank Financial Services Limited effective May 14, 2026. The resignation follows True North Fund VI LLP's sale of its entire residual stake in the company. The departing director confirmed there are no other material reasons for his resignation. He will also cease as a member or chairperson of all board committees he served on. This departure removes the investor representative from the board following the PE fund's complete exit from the company.
The exit of True North Fund VI LLP and its nominee director may signal reduced institutional backing and potential changes in corporate governance structure. Shareholders should monitor for new board appointments or changes in shareholder composition.