This is to inform you that the Board of Directors at their Meeting held on July 21, 2025 have approved appointment of Mr. Sabyasachi Rath (DIN: 07899850) as the Executive Director desginated ....
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Purple Finance Ltd's Board, at its meeting on July 21, 2025, approved the appointment of Mr. Sabyasachi Rath (DIN: 07899850) as Executive Director designated as ED and CEO, subject to shareholder approval. Mr. Rath is a co-founder of the company and has been serving as CEO since inception, so this formalizes his position on the board. The appointment follows RBI approval dated June 11, 2025, and recommendation of the Nomination & Remuneration Committee on April 9, 2025. He has prior leadership experience at Commonwealth Bank of Australia, MayBank, Citi Bank, Dhanlaxmi Bank, and Essel Finance. The company confirmed he is not related to any existing director and is not debarred by SEBI or any other authority. Under his leadership, the company has grown to 40 branches, around 350 employees, presence in 6 states, and an AUM of about INR 130 crores.
This is a formalization of an existing co-founder and CEO onto the Board, providing continuity in leadership for shareholders. No major disruption is expected, and the appointment still awaits shareholder approval at a general meeting.