Gujarat State Financial Corp has appointed Mrs Mayaben M Dabhi as a Director on its Board, effective June 20, 2026. The appointment follows a nomination by the Government in Finance Department, approved via letter No. FD/0050/06/2026 on June 04, 2026. Dabhi replaces Smt Ankitaben R Christian, who ceased to be a Director effective June 19, 2026.

The change was communicated to BSE Ltd pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015. Dabhi assumed office on June 20, 2026, after completing pre-joining formalities. The corporation confirmed that she is not debarred from holding the office of Director by the Securities and Exchange Board of India.

Profile of the New Director

Mrs Mayaben M Dabhi, aged 52, holds a B.Sc degree from Gujarat University. She began her career with the Government of Gujarat as a Scientific Assistant at the Forensic Science Laboratory in 2000. She has since held positions including Section Officer, Under Secretary, and Deputy Secretary.

Prior to this appointment, Dabhi served as Financial Advisor (Home, IMD, R&B) in the General Administration Department. She possesses 26 years of experience across various government departments and is a nominee director on two other companies.

Committee Appointments

Upon assuming office, Dabhi was designated as a Member of the Audit Committee and Chairperson of the Stakeholders Relationship Committee of the corporation. She is not related to any Director or Key Managerial Personnel of the corporation and does not hold any securities of Gujarat State Financial Corporation.

Gujarat State Financial Corporation has appointed Shri Lalit Gupta as a Director on its Board, replacing Shri Daiya P.L., following a nomination by Life Insurance Corporation of India. The change in the Board's composition is effective June 01, 2026, pursuant to Section 10(d) of the State Financial Corporations Act, 1951. Consequently, Shri Daiya P.L. ceased to be a Director with effect from May 31, 2026.

The appointment was communicated via a letter dated May 19, 2026, from Life Insurance Corporation of India. Shri Lalit Gupta assumed office on June 01, 2026, after completing the necessary pre-joining formalities. The Corporation confirmed that Gupta is not debarred from holding the office of Director by any order passed by the Securities and Exchange Board of India.

Shri Lalit Gupta is a Senior Divisional Manager at LIC of India, Gandhinagar. He holds a B.Com, M.Com, and is a Fellow of the Insurance Institute of India. Aged 52, he started his career with LIC in 1993 and possesses 33 years of experience across various departments. Prior to his current role, he served as Marketing Manager at the Udaipur (Raj.) Division.

The disclosure confirms that Gupta is not related to any other Director or Key Managerial Personnel of the Corporation. Additionally, he does not hold any securities of Gujarat State Financial Corporation in his individual capacity and is not a director in any other company, corporation, or association of persons.

Details of Appointment