Life Insurance Corporation of India, Mumbai, vide letter dated 19th May, 2025 nominated Shri Daiya P.L. as Director on the Board of Directors of the Corporation in place of Shri Madhukar ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Life Insurance Corporation of India (LIC), Mumbai, has nominated Shri Daiya P.L. as a Director on the Board of Gujarat State Financial Corporation, replacing Shri Madhukar M Asthana. The change was made under Section 10(d) of the State Financial Corporations Act, 1951. Shri Asthana ceased to be a Director effective May 21, 2025 (afternoon), and Shri Daiya P.L. assumed office on May 22, 2025 (forenoon). The new director is 52 years old, holds a B.Sc. degree and is a Fellow of the Insurance Institute of India, with 28 years of experience across various departments of LIC. He most recently served as Senior Divisional Manager at LIC's Gandhinagar Divisional Office. He is not a director on any other board and does not hold shares in the corporation.
This is a routine, nomination-driven board change by LIC (which holds the right to nominate a director under the Act) and does not indicate any governance concern. Shareholders are unlikely to see any material impact on operations or stock price, as the change is administrative in nature.