LIC Housing Finance Limited has initiated a postal ballot process to seek member approval for the appointment of Sandeep Kumar as Managing Director and Chief Executive Officer. The proposal follows his designation as Additional Director by the Board, effective August 29, 2026.

The resolution is an Ordinary Resolution passed under Sections 108 and 110 of the Companies Act, 2013. Kumar, currently a nominee of Life Insurance Corporation of India (LIC), will serve as MD and CEO for the duration of his deputation, subject to a maximum tenure ending June 30, 2028. His remuneration will align with the pay scale and service conditions applicable to his cadre under LIC’s service rules, within limits prescribed by the Act.

Appointment Details and Tenure

Sandeep Kumar was appointed as Additional Director based on the recommendation of the Nomination and Remuneration Committee. He previously served as Chief Operating Officer from May 13, 2026, to ensure leadership continuity following the superannuation of former MD and CEO Tribhuvan Adhikari in August 2026.

The Board highlighted that Kumar’s appointment ensures stability in management affairs. He brings over three decades of experience in marketing and administrative functions at LIC, having held roles such as Zonal Manager and Director and CEO of LIC HFL Financial Services Limited.

Voting Schedule

Members can vote electronically via remote e-voting. Physical ballot forms will not be issued. The voting period commences on September 23, 2026, and concludes on October 22, 2026.

What the Numbers Show

The filing reveals a structured succession plan driven by regulatory timelines rather than performance metrics. The maximum tenure of June 30, 2028, coincides with typical retirement ages for senior LIC officials, suggesting the role is a fixed-term deputation rather than a permanent executive hire. This structure limits long-term strategic autonomy but ensures alignment with parent company governance protocols. Additionally, the absence of shareholding by the proposed appointee underscores the nominee nature of the position, where oversight is derived from LIC’s majority stake rather than personal equity interest.

LIC Housing Finance has appointed Sandeep Kumar as its new Managing Director and Chief Executive Officer, effective August 29, 2026. The board approved the appointment following the recommendation of the Nomination and Remuneration Committee.

The leadership change coincides with the cessation of T Adhikari, who stepped down as MD and CEO at the close of business on August 28, 2026, pursuant to his superannuation from the services of Life Insurance Corporation of India (LIC).

Appointment Details

Sandeep Kumar joins the company as an Additional Director and is not liable to retire by rotation. His appointment is subject to shareholder approval, which must be obtained within three months of the board meeting. The term of his appointment shall not exceed five years.

Kumar holds a Master's degree in Mathematics from the University of Delhi. He began his career with LIC in 1991 as a Direct Recruit Officer of the 18th (A) Batch.

Career Profile

With over three decades of experience, Kumar has held key positions across marketing and administrative functions within LIC. His career progression includes:

• Branch Manager in Bikaner Division
• Senior Branch Manager and Chief Manager in Delhi Division-II and Vadodara Division
• Marketing Manager at Nadiad and Ahmedabad Divisions
• Senior Divisional Manager In-charge for Nadiad and Delhi-III Divisions
• Secretary (Marketing), Northern Zone
• Chief Personnel at LIC's Central Office

In 2025, he was appointed as Director and CEO of LIC HFL Financial Services Limited, Mumbai, after being elevated to the Zonal Manager Selection Cadre.

Board Governance

The board meeting concluded at 6:30 pm on August 28, 2026. The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The filing notes that Doraiswamy Ramachandran and Ratnakar Patnaik serve as directors and nominees of LIC of India. Both are also employees of LIC, as is Sandeep Kumar.