Announcement under Regulation 30 (LODR) - Based on the Recommendation of the Nomination & Remuneration Committee, the proposal for appointment of Mr. Ajay Shah (DIN: 11403884) as the Managing ....
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MKVENTURES CAPITAL LIMITED held a board meeting on December 19, 2025 where it approved the appointment of Mr. Ajay Shah (DIN: 11403884) as the new Managing Director & CEO, subject to RBI and shareholder approval. Mr. Shah is a CA and LLB with around 30 years of experience, having spent nearly 20 years at EY as a senior Investment Banking partner and 10 years at KPMG prior to that. In a related move, the current Managing Director Mr. Madhusudan Kela (DIN: 05109767) will be re-designated as Non-Executive, Non-Independent Chairman once Mr. Shah's appointment is confirmed by RBI. Additionally, Mr. Sanket Rathi's designation was revised to Company Secretary & Chief Compliance Officer (CCO) for a five-year term. The company is an RBI-registered entity, so the new CEO appointment requires regulatory clearance.
This represents a major leadership transition at the top — a high-profile external hire from EY signals a potentially more institutional and professional management approach, which investors may view positively. The re-designation of the existing MD to a non-executive chairman role shows continuity of promoter involvement while bringing in outside expertise.