CFO resigns, new CFO appointed alongside broader board changes
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CFO Deepak Jhunjhunwala resigned effective Aug 13, 2026 citing personal reasons and preoccupation with other assignments. Mrs Bhawana Jha, a B.Com graduate with about 14 years of experience in accounts, taxation and finance, was appointed as new CFO the same day. The board also approved a proposed name change to Nicoindia Finance and Investment Limited and entry into distressed retail loan portfolio acquisition through an agreement with Ringo Fincap Private Limited, subject to shareholder and regulatory approvals.
Quick CFO replacement ensures financial oversight continuity. Proposed name change and new business vertical suggest a strategic shift toward becoming a finance services company.