Northern Arc Capital Limited has informed the Exchange regarding Resignation of Mr Kalyanasundaram C as Cheif Internal Auditor (Senior Management) of the company w.e.f. May 09, 2025.
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Northern Arc Capital's board has appointed Mr. Sandeep Dhar as an Additional Director (Non-Executive, Independent) for 5 years effective May 7, 2025. Mr. Dhar brings 3.5 decades of experience in the BFSI and IT services sectors across India and overseas. The board has also accepted the resignation of Mr. Kalyanasundaram C as Chief Internal Auditor effective May 9, 2025, citing pre-occupation and other professional commitments. Mr. Chetan Tivary, a Chartered Accountant with 25+ years of audit and risk management experience (previously at Ujjivan SFB, HSBC, Mashreq Bank, and ABN AMRO), has been appointed as the new Chief Internal Auditor for 5 years effective May 10, 2025.
These are routine governance changes with replacements lined up, suggesting smooth succession. The addition of an experienced independent director and a well-qualified internal auditor should be viewed positively for governance and audit quality. Minimal impact expected on the stock price.