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Manappuram Finance Non-Executive Director Balasubramanian Resigns

May 10, 2024

By: BlinkX Research Team

The Non-Executive Director of Manappuram Finance Limited S.R. Balasubramanian on Thursday, resigned from his post with immediate effects, the company informed exchanges via a board meeting. However, there was no material reason behind the resignation and it was due to personal reasons.

Key Takeaways of the Board Meeting: 

• S.R. Balasubramanian resigned as the Non-Executive Director of  Manappuram Finance
• The Directors appointed Renjith P.R. as the Chief Human Resource Officer
• The company re-appointed Vice President Madhu Mohan as the Chief Risk Officer

Furthermore, the company’s Board of Directors has also approved the appointment of Renjith P.R. as Chief Human Resource Officer in the board meeting.

Post the resignation, the company re-appointed Vice President Madhu Mohan, as the Chief Risk Officer for two years with effect from July 17.

About Manappuram Finance:

Manappuram Finance Limited, established in 1949, is one of India’s leading gold loan Non-bank Financial Companies (NBFCs). It was founded in the coastal village of Valapad by V.C. Padmanabhan. The company in the next few years aspires to become a leading player in the financial services sector catering to the needs of the mass market with products ranging from home loans, vehicle finance, MSMEs loans, and microfinance.