Re-appointment of internal auditor for the F.Y.2026-27, Appointment of Senior Managerial Personnel, Resignation of Independent Director Mr. Ketan Sanghvi
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Trustedge Capital Limited held a board meeting on May 12, 2026, approving audited standalone financial results for Q4 and FY ended March 31, 2026, with an unmodified opinion from statutory auditors M/s Mahendra N. Shah & Co. The board re-appointed M/s MGP & Associates as internal auditors for FY 2026-27. Two senior managerial personnel were appointed: Mr. Somit Bhandari as Business Head - Credit & Strategy and Mr. Chetan Khosla as Business Head, both effective May 12, 2026. Mr. Ketan Harsukhlal Sanghvi tendered his resignation as Non-Executive Independent Director due to health reasons, effective from closing business hours on May 12, 2026. Sanghvi also stepped down as Chairman of the Audit Committee, Nomination and Remuneration Committee, and Stakeholder Relationship Committee. He confirmed no other material reasons for his resignation.
The resignation of the independent director and committee chairman raises governance concerns as the company loses a key board member during an already completed audit cycle. The appointment of two senior managers brings experienced banking professionals but the board composition may need reinforcement.