Moongipa Capital Finance Ltd announced the resignation of Chief Financial Officer Mohd Javed Qureshi, citing personal reasons. The resignation is effective from the closing of business hours on October 21, 2026.

Resignation details

The company informed BSE Limited that the management has accepted Mr. Qureshi’s resignation request. He will be relieved from his responsibilities immediately upon the close of business on the specified date. The company stated that the resignation will be placed before the Board of Directors at its next meeting for formal acceptance.

Mr. Qureshi served as the CFO of the NBFC. His departure marks a change in the senior management structure of the Delhi-based financial institution.

Regulatory disclosure

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. The filing included an annexure detailing the specifics of the cessation.

The company secretary and compliance officer, Sonia, signed the digital submission to the stock exchange. No further details regarding a successor or interim arrangements were provided in the initial disclosure.

Moongipa Capital Finance Limited has entered into an agreement with Billion Careers Private Limited, Bluspring Enterprises Limited, and Codemodulu Financial Investment Services Private Limited to facilitate lending services. The arrangement aims to provide credit products to eligible employees of Bluspring Enterprises and its group entities through a digital platform.

The NBFC will act as the financing partner, retaining sole discretion over credit assessment and loan approval. The platform partners will handle the digital processing and tracking of applications, while Moongipa Capital Finance maintains responsibility for evaluating borrower eligibility in accordance with its internal policies and regulatory requirements.

Structure of the arrangement

The agreement establishes a principal-to-principal relationship between the parties. The company clarified that the employer entities are not liable for the borrowers' repayment obligations, except in cases attributable to their own action or delay. The relationship between the borrower and the company remains that of lender and borrower.

Operational roles and compliance

Under the terms, the platform partners are responsible for identifying and onboarding eligible personnel and facilitating the digital submission of loan applications. Moongipa Capital Finance retains full authority to approve or reject applications based on its independent creditworthiness evaluation. The company stated that it will continue to comply with all applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and RBI directions.

The commercial terms include a revenue-sharing arrangement between the platform partner and Billion Careers Private Limited. The company noted that it has no obligation or responsibility regarding this specific revenue-sharing structure. Loans, if sanctioned, will be disbursed directly by the company subject to standard documentation and regulatory checks.

Strategic impact

This partnership is expected to expand the company's lending business by adding a new digital sourcing and servicing channel. The move allows the NBFC to access a pre-qualified pool of salaried individuals from Bluspring Enterprises, potentially streamlining customer acquisition costs while maintaining strict control over risk management protocols.