Appointment of Mr. Vivek Kumar Singhal (PAN: AKMPS1996F) as the Chief Financial Officer of the Company.
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On the reaction day the stock moved 1.9 pts more than Nifty Microcap 250 and 1.5 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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GSB Finance Ltd's board, meeting on January 16, 2026, approved a major overhaul following an RBI-approved change in control and resultant management change. Mr. Vivek Kumar Singhal, a Chartered Accountant with 18 years of experience in share investments and derivatives, was appointed as Chief Financial Officer effective immediately and regularized as Executive, Non-Independent Managing Director for a 5-year term from February 16, 2026. Four directors — Mr. Kshitij Agrawal, Mr. Vivek Kumar Singhal, Mr. Hari Chand Mittal (former Union Bank of India Field General Manager), and Ms. Sweta Pareek — were regularized for 5-year terms. The board also adopted new MOA and AOA aligned with the Companies Act 2013 and initiated a postal ballot with a January 9, 2026 cut-off date to seek shareholder approval.
This signals a complete change in management and board composition at GSB Finance under RBI-approved new ownership. Shareholders should watch the postal ballot results and assess how the new management's strategy may reshape the NBFC's direction going forward.