Satin Creditcare Network Ltd continues Board Strengthening Journey with the appointment of Two New Independent Directors

Satin Creditcare Network Limited (SCNL), one of India's leading microfinance institutions, has announced the appointment of two distinguished professionals, Mr. Ashok Kumar Sharma and Mr. Anupam Kunal Gangaher, as Independent Directors to its Board. Their appointments are for a period of three (3) consecutive years, effective June 27, 2025, and are subject to shareholder approval at the upcoming Annual General Meeting.

The addition of Mr. Sharma and Mr. Gangaher reaffirms SCNL's commitment to maintaining strong governance and strategic oversight. It also marks the continuation of the board-strengthening efforts initiated in 2024 with the onboarding of Independent Directors Mr. Joydeep Datta Gupta (June 2024) and Ms. Jyoti Davar Vij (September 2024). With these new appointments, SCNL remains focused on building a diverse and experienced Board to guide its long-term vision and growth.

The new appointees include:

Mr. Ashok Kumar Sharma Mr. Ashok Kumar Sharma is a former Executive Director of the Life Insurance Corporation of India (LIC), where he held a wide range of leadership and operational roles over nearly four decades. He brings with him over 40 years of rich experience in India's financial services sector, spanning insurance, banking, capital markets, venture capital, and regulatory frameworks. Following his retirement, he joined the LIC IPO as an Advisor, contributing to one of India's most significant public offerings. He also served as Director & CEO at LICHFL Asset Management Company Ltd. for more than four years, where he led the operations and strategic direction of its Real Estate Fund, focusing on investment strategy, compliance and investor confidence. In addition, he was associated with IDBI Bank as General Manager from October 2022 to March 2024, contributing to key areas such as regulatory oversight, banking operations, and stakeholder engagement.

Mr. Anupam Kunal Gangaher is a seasoned Chartered Accountant with over 40 years of experience in audit, taxation, and financial advisory. A graduate of Delhi University and proprietor of A.K. Gangaher & Co., he has advised Indian and multinational clients across sectors including manufacturing, trading, hospitality, exports, software, and financial services. His core expertise lies in direct and indirect taxation, transfer pricing, and non-resident taxation, with extensive experience representing clients before statutory authorities.

The induction of these two accomplished professionals represents another pivotal step in Satin's journey towards building a world-class governance framework. Combined with the Company's recent board enhancements and its 'AA' ESG rating from ESG Risk Assessments and Insights Ltd., these appointments demonstrate SCNL's sustained commitment to exceptional environmental, social, and governance practices while maintaining its leadership position in the microfinance sector.

Commenting on the appointments, Dr. H P Singh, Chairman cum Managing Director of Satin Creditcare, said, "At Satin Creditcare, we view corporate governance not merely as a compliance requirement, but as a strategic pillar for sustainable growth and stakeholder trust. A strong, diverse, and future-ready Board is central to this philosophy. Satin is proud to be a well-governed institution, with a balanced composition of non-independent and independent directors, ensuring transparent oversight and strategic direction. As we move forward, we are pleased to welcome Mr. Ashok Kumar Sharma and Mr. Anupam Kunal Gangaher as Independent Directors. Both bring extensive experience across finance, governance, and institutional strategy. Their diverse perspectives and strong credentials will significantly strengthen our Board's capabilities as we continue to scale our mission of responsible financial inclusion."

Shares of Satin Creditcare Network Limited was last trading in BSE at Rs. 166.60 as compared to the previous close of Rs. 173.10. The total number of shares traded during the day was 12469 in over 621 trades.

The stock hit an intraday high of Rs. 173.00 and intraday low of 166.20. The net turnover during the day was Rs. 2105190.00.

Source : Equity Bulls

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