Proceedings of the Board Meeting held on December 19, 2025 as per Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, ....
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The board of MKventures Capital Ltd held a meeting on December 19, 2025 and approved several major leadership changes. Mr. Ajay Shah, a former EY senior investment banking partner with around 30 years of experience (and prior stint at KPMG), has been proposed as the new Managing Director & CEO, subject to RBI and shareholder approvals. Founder Mr. Madhusudan Kela will be re-designated from Managing Director to Non-Executive, Non-Independent Chairman, contingent on Mr. Shah's appointment. Additionally, Mr. Sanket Rathi was appointed as Chief Compliance Officer for 5 years, with his designation revised to Company Secretary & Chief Compliance Officer. The board authorised applications to the Reserve Bank of India for the required regulatory clearances.
This signals a significant leadership transition at the NBFC, with founder Madhusudan Kela stepping back from executive duties into a non-executive chairman role, while professional banker Ajay Shah takes operational charge. The move could bring stronger corporate governance and investment banking expertise, but the change is still subject to RBI and shareholder approvals, which creates near-term uncertainty for investors.