Board of Magma Fincorp approves change in directorate

At meeting held on 31 May 2021

The Board of Magma Fincorp at its meeting held on 31 May 2021 has approved the appointment of Adar Poonawalla (DIN:00044815) as an Additional Director in the capacity of Non-Executive Director and designated as the Chairman of the Company w.e.f. 1 June 2021, subject to the approval of the shareholders.

The Board also approved the appointment of Abhay Bhutada (DIN:03330542) as an Additional Director in the capacity of Managing Director of the Company w.e.f 1 June 2021 for a period of 5 years, subject to the approval of the shareholders.

The Board approved the re-designation of Sanjay Chamria (DIN:00009894) as Executive Vice Chairman w.e.f 1 June 2021.

 

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