Manappuram Finance Limited has announced a major restructuring of its Board of Directors effective May 5, 2026. This transition follows the entry of new investors, BC Asia Investments XXV Limited and BC Asia Investments XIV Limited, who have officially become promoters. The leadership changes include the appointment of new directors, a transition in the Vice-Chairperson role, and a strategic realignment of the company’s finance leadership team.
Board Restructuring and Investor Entry
Following the formal acquisition of control by BC Asia Investments, Manappuram Finance has successfully reconstituted its Board. As part of this transition, six non-executive independent directors—Mr. Abhijit Sen, Ms. Pratima Ram, Ms. V P Seemandini, Mr. T C Suseel Kumar, Mr. Edodiyil Kunhiraman Bharat Bhushan, and Mr. Sankaran Nair Rajagopal—have resigned from their positions effective May 5, 2026.
New Board Appointments
To strengthen its governance, the company has appointed two additional non-executive non-independent directors nominated by the investors: Mr. Rishi Mandawat and Mr. Ashish Arvind Kotecha. Furthermore, the Board has expanded its independent oversight with the appointment of four new non-executive independent directors, each for a term of five years: Ms. Rosemary Sebastian, Mr. Rajesh Kumar Rathanchand, Mr. Vijayaraghavan Balaji, and Mr. Rakesh Induprasad Bhatt.
Strategic Leadership Changes
The company is also refining its internal leadership structure. Dr. Sumitha Nandan has been promoted to Executive Director and Vice-Chairperson of the Board. In the finance department, Mrs. Bindu A.L. moves from her role as Chief Financial Officer to lead the newly formed Finance Center of Excellence and AI. Stepping into the role of Chief Financial Officer is Mr. Buvanesh Tharashankar, who will continue to serve as the Group Chief Financial Officer.
Source: BSE
