Please find enclosed intimation for appointment of Additional Director (Non-Executive Independent) and proposal for appointment of Additional Director (Executive) on the Board of Directors ....
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Purple Finance Ltd has appointed Mr. Rajan Bhat (DIN: 02467868) as an Additional Independent Director with effect from April 9, 2025, subject to shareholder approval. Mr. Bhat brings decades of experience in financial services and consulting, including leadership roles at American Express, Tata Capital, Western Union, and FCH Centrum Direct. Separately, the company has proposed appointing Mr. Sabyasachi Rath, currently the Chief Executive Officer and co-founder, as an Additional Executive Director, pending Reserve Bank of India (RBI) approval. The Board composition remains compliant with Companies Act, 2013 and SEBI LODR requirements. Both appointees are not related to any existing Director and are not debarred by SEBI from holding directorship.
Routine board strengthening with no governance red flags. Formalising the CEO's role as Executive Director brings continuity but requires RBI clearance before taking effect, introducing a small regulatory dependency for retail shareholders to monitor.