Appointment of Independent Directors and re-appointment of Managing Director.
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Sakthi Finance announced the appointment of two new Independent Directors — Smt. Susheela Balakrishnan (practicing Chartered Accountant with 40+ years of experience) and Sri S Chandrasekhar (industrialist with MBA from USA) — for a five-year term starting August 14, 2025, subject to shareholder approval at the upcoming AGM. The Board also approved the re-appointment of Sri M Balasubramaniam as Vice Chairman and Managing Director for another five years from September 29, 2025; he is the brother of Chairman Dr M Manickam and Director M Srinivaasan. Separately, the Board cleared the issuance of secured NCDs, commercial papers, and other debt securities up to ₹250 crore on a private placement basis, plus redeemable cumulative preference shares up to ₹20 crore. The authorised share capital will be raised from ₹130 crore to ₹150 crore. All proposals require shareholder approval at the 68th AGM.
Continuity at the top with the promoter-family MD getting a fresh five-year term should provide stability, while the new Independent Directors strengthen board oversight. The ₹250 crore debt raise and ₹20 crore preference share issue signal expansion of borrowings to fund lending operations, which may modestly pressure equity holders over time but is within existing borrowing limits.