Manappuram Finance: Management and Director Changes Approved

Manappuram Finance Ltd's board meeting on May 5, 2026, addressed significant management and director changes following BC Asia Investments' acquisition of control. The board noted the investors becoming promoters and approved resignations of six independent directors. It also approved the appointment of Rishi Mandawat and Ashish Arvind Kotecha as Additional Non-Executive Non-Independent Directors, subject to shareholder approval. Dr. Sumitha Nandan was redesignated as Executive Director and Vice-Chairperson, while Mrs. Bindu A.L. transitioned to Head, Finance Center of Excellence and AI, with Buvanesh Tharashankar appointed as CFO.