We wish to inform you that the board approved the resignation of Mr. Dinesh Kumar Patnia as the Managing Director.
Awaiting price reaction for this filing.
Minolta Finance Ltd announced a sweeping set of board and auditor changes on August 12, 2025. Managing Director Mr. Dinesh Kumar Patnia resigned effective August 11, 2025, citing personal and professional commitments. Mr. Arvind Jethalal Gala (currently Group CFO at Inventure Growth and Securities Ltd) was re-appointed as a director retiring by rotation and appointed as Non-Executive Chairman for FY 2025-26, subject to shareholder approval. The company also rotated all three auditor positions on the same day: statutory auditor Khandelwal Prem & Associates resigned citing preoccupation, replaced by JCR & Co. LLP for 5 years; internal auditor Sanjay Khandelwal was replaced by TRS & Co.; and secretarial auditor Arun Kumar Jaiswal was replaced by Amruta Giradkar & Associates for 5 years (FY 2025-26 to 2029-30).
The sudden MD exit at this small-cap NBFC, combined with a simultaneous wholesale change of all three auditors, may raise governance questions among shareholders despite the stated routine reasons. Retail investors should monitor the AGM for the full rationale behind the leadership transition and watch for any related-party or financial reporting concerns in upcoming results.