morarka finance has clarified that the appointment of Mr. Pranay G. Morarka as Managing Director is contingent upon securing necessary approvals from the Reserve Bank of India (RBI). The Board of Directors passed a clarificatory resolution on June 03, 2026, to explicitly record that the five-year appointment, commencing April 24, 2026, is subject to all required permissions and compliance with RBI directions, including the Non-Banking Financial Companies – Governance Directions, 2025.

The Board had initially approved the appointment of Mr. Pranay G. Morarka (DIN: 03272263) at its meeting held on April 23, 2026. The recent resolution does not alter the substance of the original approval but ensures the appointment is read in conjunction with applicable regulatory guidelines. The company stated that the resolution is purely clarificatory and does not constitute a fresh appointment or re-appointment.

Regulatory Compliance

The company has filed the necessary application through the PRAVAAH portal and submitted documents to the RBI in connection with the appointment. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

The resolution ensures that the appointment adheres to the regulatory framework governing Non-Banking Financial Companies (NBFCs). Divya Agarwal, Company Secretary & Compliance Officer, signed the disclosure on behalf of Morarka Finance Limited.

Morarka Finance Limited has announced a leadership transition involving Mr. Pranay G. Morarka, who resigned from his position as Chief Executive Officer effective April 24, 2026, while simultaneously being appointed as Managing Director of the company.

Leadership Transition Details

The company filed regulatory disclosures with BSE Limited on April 30, 2026, providing complete documentation of the executive changes. The transition involves both a cessation and an appointment for the same individual.

Regulatory Compliance

Company Secretary Divya Agarwal submitted the required disclosures under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The submission referenced the SEBI Master Circular dated January 30, 2026, ensuring full regulatory compliance.

The company noted that Mr. Morarka's resignation letter from the CEO position was inadvertently omitted from the initial April 23, 2026 submission and was subsequently provided to complete the regulatory filing requirements.

Transition Statement

In his resignation letter dated April 23, 2026, Mr. Pranay G. Morarka expressed gratitude to the Board for their trust and support during his tenure as CEO. He emphasized his commitment to ensuring a smooth transition and continued dedication to the organization's growth and success in his new role.

The Managing Director appointment remains subject to shareholder approval at the company's forthcoming 41st Annual General Meeting, representing standard corporate governance procedures for such executive appointments.

Corporate Information

Morarka Finance Limited operates from its registered office at 511, Maker Chambers V, 221, Nariman Point, Mumbai. The company trades on BSE Limited under scrip code 511549 and maintains its corporate website at www.morarkafinance.in .