Northern Arc Capital Limited has informed the Exchange regarding Board meeting held on May 07, 2025.
NORTHARC · price
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Northern Arc Capital's board, at its meeting on May 7, 2025, approved two governance changes. First, Mr. Sandeep Dhar, a BFSI and IT services veteran with 35 years of experience (educated at Delhi University, IMT Ghaziabad, and Wharton), was appointed as Additional Director (Non-Executive, Independent) for a 5-year term, subject to shareholder approval. Second, Mr. Kalyanasundaram C resigned as Chief Internal Auditor due to pre-occupation and other commitments, effective end of May 9, 2025. Mr. Chetan Tivary, a Chartered Accountant with 25+ years of audit and risk management experience across banks like Ujjivan SFB, HSBC, Mashreq Bank, and ABN AMRO, takes over as Chief Internal Auditor for 5 years from May 10, 2025.
These are routine board and senior management transitions with no negative governance red flags. The new independent director adds BFSI expertise to the board, while the internal auditor change appears to be a planned personal exit rather than a disciplinary action. No material impact on shareholders or stock price is expected.