Leading Leasing Finance and Investment Company Limited appointed Sandesh Subhash Namase as Non-Executive Director and Chairperson effective October 6, 2026. The appointment follows the resignation of Deepak Saushi from the same role due to pre-occupancy and other commitments.

The Board of Directors approved the changes during a meeting held on Tuesday, October 6, 2026. Namase’s appointment is subject to approval by regulatory authorities and shareholders at a general meeting. Saushi confirmed no material reasons for his resignation other than those stated in his letter.

Profile of new Chairperson

Sandesh Subhash Namase holds a Bachelor of Commerce degree and brings over 10 years of experience in accounting, taxation, and administration. His professional expertise includes GST and TDS compliance, income tax returns, bank reconciliation, and finalization of books of accounts. He has no directorships in other listed or unlisted entities and holds no shares in the company.

Leadership transition details

Deepak Saushi resigned as Non-Executive Director and Chairperson with effect from the close of business hours on October 6, 2026. The company disclosed that there are no other material reasons for his departure. The transition ensures continuity in the board’s leadership structure while awaiting shareholder ratification for the new appointment.

What the Numbers Show

The disclosure highlights a complete turnover in the top leadership position without any interim vacancy, as the appointment of Namase coincided exactly with Saushi’s cessation. Both directors are classified as Non-Executive, indicating that the operational management likely remains unaffected by this change at the chairperson level. The new Chairperson holds zero equity stake, suggesting an independent oversight role rather than a promoter-driven strategic shift.

Leading Leasing Finance and Investment Company Limited has withdrawn its in-principle approval applications for the conversion of existing loans into equity shares and the issuance of convertible warrants. The decision was taken during a board meeting held on October 5, 2026, effectively cancelling the proposed capital restructuring plans submitted to both BSE Limited and the Metropolitan Stock Exchange of India (MSE).

The company had previously sought approval to convert existing debt into 35,71,42,856 equity shares and issue 70,93,57,119 convertible warrants. The withdrawal applies to the in-principle approvals granted by both exchanges for these specific instruments.

Board Meeting Details

The Board of Directors considered and approved the withdrawal during its meeting on Monday, October 5, 2026. The session commenced at 4:30 pm and concluded at 5:00 pm. The Managing Director, Ketankumar Shivabhai Gosai, signed off on the intimation to the stock exchanges, confirming that the regulatory filings for the proposed conversions have been retracted.

Proposed Capital Structure Changes

The withdrawn proposals involved significant dilution and capital infusion mechanisms through debt conversion. The table below outlines the scale of the cancelled transactions:

The cancellation indicates a shift in the company's immediate capital strategy, moving away from the planned conversion of liabilities into equity instruments as initially proposed to the regulators.