Outcome of Board meeting dated 23.03.2026 1. Resignation of Independent Director Mr. D H Gopalakrishnan 2. Appointment of Independent Director Ms. Umaa Sharvani 3. Appointment of Chief ....
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At a board meeting held on 23 March 2026, Popular Foundations Ltd accepted the resignation of Independent Director Mr. D H Gopalakrishnan (DIN: 01297853) with immediate effect, citing personal reasons and confirming no other material reasons for his exit. In his place, Ms. Umaa Sharvani (DIN: 10566378), a Chartered Accountant with 10 years of experience in finance, auditing and taxation, was appointed as Additional Independent Director for a five-year term ending 22 March 2031. The company also appointed Mr. N Chellappa, a fellow member of ICMAI with over 35 years of corporate finance experience, as the new Chief Financial Officer. The Audit, Nomination & Remuneration, and Stakeholders Relationship Committees were reconstituted to reflect these changes.
This is a routine governance reshuffle with a like-for-like replacement of one independent director and a new CFO with strong credentials. Shareholders should see no negative impact; the changes keep board composition compliant and strengthen the finance function.