Integrated Capital Services Limited has announced the appointment of Mr. Ashish Sanwal as its Chief Financial Officer (CFO) and Key Managerial Personnel. The appointment is effective from May 13, 2026, following a resolution passed by the Board of Directors in its meeting held on May 12, 2026.

Prior to this elevation, Mr. Sanwal served as the Manager-Internal Audit at the company. He tendered his resignation from the internal audit role effective May 12, 2026. The decision to step down from the audit function was driven by the need to maintain independence and adhere to good corporate governance principles, given his new executive responsibilities.

Appointment Details

As CFO, Mr. Sanwal will be responsible for managing the financial affairs of Integrated Capital Services Limited , its subsidiaries, and associate companies. His remuneration is fixed at ₹55,000 per month, subject to the company's rules and potential bifurcation by the Board. The appointment letter outlines that he will report directly to the Board of Directors and operate from the company's registered office in New Delhi.

The role entails ensuring timely compliance with various statutory laws, including the Companies Act, 2013, SEBI regulations, FEMA, GST, and income tax norms. Mr. Sanwal will also be tasked with dealing with regulatory authorities and managing financial reporting for the company and its affiliates.

Key Events Timeline

The company has attached the necessary disclosures, including the resignation letter and the appointment letter, in compliance with SEBI regulations. Vartika Jain, Company Secretary & Compliance Officer, signed the intimation to the stock exchanges on May 24, 2026.

Integrated Capital Services Limited has disclosed the resignation of its Chief Financial Officer, Mr. Pinku Kumar Singh. The resignation was tendered on February 14, 2026, and was accepted by the company's Board of Directors the same day, effective from the close of business hours.

Reason for Resignation

Mr. Pinku Kumar Singh stepped down from his position to pursue an alternate career. He intends to practice as an Advocate and has expressed his wish to apply for enrolment with the Bar Council. The resignation was accepted based on the recommendation of the Nomination and Remuneration Committee.

Board Decision

The Board of Directors of Integrated Capital Services Limited convened a meeting on February 14, 2026, to deliberate on the matter. Following the committee's recommendation, the board formally accepted the resignation, concluding Mr. Singh's tenure with the company effective immediately.

Key Details of the Change

The company provided the following specifics regarding the change in its senior management:

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The company confirmed that the requisite documents, including the resignation letter, have been submitted to the stock exchanges.