Shriram Finance Limited announced that its Board will review the appointment of two new directors, Mr. Morihiko Fuji and Mr. Shinichi Fujinami, nominated by MUFG Bank Ltd. This consideration follows a nomination request and aligns with RBI governance directions. The final appointment is conditional upon receiving written approval from the Reserve Bank of India and the successful allotment of 47.11 crore equity shares to the Investor by December 19, 2025.
Board to Assess Proposed Director Nominees
Shriram Finance Limited has informed the stock exchanges regarding the nomination request received from MUFG Bank Ltd, identified as an “Investor”. The Nomination and Remuneration Committee has recommended two individuals: Mr. Morihiko Fuji and Mr. Shinichi Fujinami, as the Proposed Nominees for the Board of Directors.
The Board, following a resolution passed via circulation on February 12, 2026, has provisionally assessed that these nominees satisfy the required ‘fit and proper’ criteria for serving as directors of the Company.
Conditions for Final Appointment
The formal appointment of the Proposed Nominees as Additional Non-Executive and Non-Independent Directors is subject to two primary conditions:
- Receipt of written approval from the Reserve Bank of India (RBI) concerning the change in the constitution of the Board, as mandated under the Non-Banking Financial Companies (Governance) Directions, 2025.
- The successful consummation of the proposed issuance and allotment of 47,11,21,055 (Forty Seven Crores Eleven Lakhs Twenty One Thousand and Fifty Five) equity shares to the Investor.
This share allotment is to occur in accordance with the investment agreement executed between the Company and the Investor on December 19, 2025.
Regulatory Compliance
Further required details pertaining to the appointment, in line with Schedule III requirements, will be provided upon the Board’s final approval of the aforesaid nominees.
Source: BSE
