Please find enclosed the 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 on the Board with effect from 9th April 2025, subject to shareholder approval. Mr. Bhat brings decades of experience in financial services and consulting, with prior leadership roles at American Express, Tata Capital, Western Union, and NKGSB Co-operative Bank. Separately, the Board has proposed appointing Mr. Sabyasachi Rath as an Additional Executive Director, subject to RBI approval. Mr. Rath is a co-founder and the current CEO of the company, having grown the business to 32 branches, around 350 employees, 5 states, and an AUM of about ₹100 crore. Both new directors are not related to any existing director, and the Board continues to meet compliance requirements under the Companies Act and SEBI LODR.
The appointment of an experienced Independent Director strengthens Board oversight, while formalising the founder-CEO as Executive Director (pending RBI approval) signals continuity in leadership. For shareholders, this is largely a governance and structural update with no immediate financial impact, though it may improve board quality and strategic direction.