Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is informed that a meeting of the Nomination and Remuneration Committee was ....
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The Nomination and Remuneration Committee met on May 12, 2026, and recommended Mr. Ashish Sanwal for appointment as Chief Financial Officer. The Board of Directors approved this appointment in the same meeting. Mr. Ashish Sanwal was previously designated as Manager-Internal Audit and has tendered his resignation from that position effective immediately. He will assume the CFO role from May 13, 2026. He is a commerce graduate with an MBA in Finance since 2017 and has approximately 9 years of experience in finance, accounts, taxation, and banking. The appointment is terminable by either party with one month's notice.
This is an internal promotion from Manager-Internal Audit to CFO, representing continuity in leadership rather than a disruptive change. The appointment may be viewed neutrally by the market as it involves an existing employee moving into a KMP role.