FDC Limited announced the conclusion of CA Uday Kumar Gurkar’s second term as an Independent Director on March 31, 2026. Following the recommendation of the Nomination & Remuneration Committee, the Board approved the appointment of CA Kishore Saletore as an Additional Independent Director, effective April 1, 2026, for a five-year term concluding March 31, 2031. The Board structure for key committees was also re-constituted.
Board Meeting Outcomes on March 18, 2026
The Board of Directors of FDC Limited convened on March 18, 2026, to consider several key governance matters, resulting in significant changes to the directorate and committee composition, effective April 01, 2026.
Cessation of Director Term
The Board formally noted the cessation of the second term for CA Uday Kumar Gurkar as an Independent Director. This term is set to conclude at the close of business hours on March 31, 2026.
Appointment of New Independent Director
Based on the recommendation of the Nomination & Remuneration Committee, the Board approved the appointment of CA Kishore Saletore (DIN: 01705850) as an Additional Independent Director. The appointment is effective from April 1st, 2026, and covers a period of Five (5) years, lasting up to 31st March, 2031, pending subsequent approval from the Members.
Profile of CA Kishore Saletore
Mr. Saletore is described as a seasoned finance executive boasting over 30 years of diverse experience across globally renowned corporations such as the Tata Group, ITC Ltd., and Bharat Forge. His expertise includes steering high-stakes M&A activities and international expansions, with a focus on delivering shareholder value and operational efficiency across sectors including EV, real estate, and infrastructure. He is the recipient of the prestigious CII CFO Award in 2022 for excellence in financial leadership.
Importantly, the disclosure confirms that CA Kishore Saletore is not related to any existing Directors, Key Managerial Personnel, Promoter, or Promoter group of the Company.
Re-constitution of Board Committees
In light of the directorial changes taking effect on April 01, 2026, the Board re-constituted the following committees:
- Audit Committee
- Nomination & Remuneration Committee
- Corporate Social Responsibility Committee
Shareholder Approval Sought
The Board also approved seeking subsequent approval from shareholders for the appointment of CA. Kishore Saletore as an Independent Director, which will be conducted through the Postal Ballot Process. Further details regarding this process will be shared in due course.
The Board Meeting commenced at 11:00 a.m. and concluded at 02:40 p.m. (IST).
Source: BSE
