Aadhar Housing Finance Limited announced the untimely demise of Raj Vikash Verma, its Independent Director and Non-Executive Chairperson, on October 16, 2026. The company described the event as an irreparable loss to its board and management team.

Verma was appointed as an Independent Director on May 6, 2025. His tenure, though brief, was marked by significant contributions to the company’s strategic direction. The board expressed deep condolences to his family and loved ones during this difficult period.

Regulatory disclosure details

The intimation was filed with both BSE Limited and National Stock Exchange of India Limited under Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also referenced SEBI Circular No HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Key details from the regulatory annexure are outlined below:

The company noted that Verma ceased to hold office with effect from October 16, 2026. The Board of Directors, management, and employees collectively conveyed their deepest sympathies.

Governance impact

The sudden vacancy in the chairperson role necessitates a review of the board composition to ensure compliance with governance norms. Aadhar Housing Finance has not yet disclosed details regarding a successor or interim arrangements for the chairperson position. Debenture trustees, including Beacon Trusteeship Limited and IDBI Trusteeship Services Limited, were copied on the communication.

Aadhar Housing Finance shareholders have approved the appointment of Mr. Nikhil Goyal as a Non-Executive (Nominee) Director. The resolution was passed through a postal ballot process conducted via remote e-voting.

The voting concluded on September 19, 2026. Aashish K. Bhatt & Associates, appointed as the scrutinizer, confirmed the results on September 21, 2026. The company notified the stock exchanges of the outcome pursuant to SEBI Listing Regulations.

Voting Results

Shareholders holding 437,337,117 shares as on the record date of August 14, 2026 were eligible to vote. A total of 383,900,724 votes were polled, representing an 87.78% participation rate.

The promoters voted unanimously in favour of the resolution. Public institutions cast 99.61% of their votes in favour, while public non-institutions supported the appointment with 99.99% of votes polled.

Scrutinizer Observations

The scrutinizer noted that decimal voting is permitted on the National Securities Depository Limited platform. One shareholder holding four shares cast 2.5 votes against the resolution. As equity shares are indivisible under the Companies Act, 2013, the fractional vote of 0.5 shares was treated as invalid and excluded from the final count. The remaining two whole votes against the resolution were counted as valid.

The promoter group declared no interest in the agenda or resolution.

Director Profile

Mr. Goyal was initially appointed as an Additional Director on August 12, 2026. He is liable to retire by rotation. He currently serves as Managing Director within the private equity business group of Blackstone Advisors India Private Limited, focusing on investments in financial services, energy transition, and digital infrastructure sectors.

He previously worked as a management consultant with The Parthenon Group and has more than 10 years of experience in the financial services sector. Since joining Blackstone in 2015, he has been involved in key investments in the BFSI and IT sectors. Mr. Goyal holds a bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology Delhi and a Master’s degree in Business Administration from Wharton School at the University of Pennsylvania, where he graduated as a Palmer Scholar.

Mr. Goyal is not related to any other Director of the Company. He has confirmed that he is not debarred from holding the office of Director by virtue of any order passed by the Securities and Exchange Board of India or any other such authority.