Raama Finance accepts Suman Bhattarai's resignation as CFO

Raama Finance has accepted the resignation of Suman Bhattarai as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP). The departure is effective from the closing of working hours on August 07, 2026. Bhattarai cited personal reasons for stepping down and confirmed there are no other material reasons requiring disclosure in connection with his resignation.

The company notified the BSE Limited on August 08, 2026, pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also references the circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated July 11, 2023, updated on January 30, 2026.

Bhattarai stated in his resignation letter addressed to the Board of Directors that he would extend full cooperation to ensure a smooth transition of responsibilities. He expressed gratitude to the Board, management, colleagues, auditors, shareholders, and stakeholders for their support during his tenure.

Resignation Details

Particulars	Details
Name	Suman Bhattarai
Position	Chief Financial Officer & Key Managerial Personnel
Reason	Personal reasons
Effective Date	August 07, 2026
Material Issues	None

The filing was signed by Dhiraj Kumar Jha, Company Secretary & Compliance Officer (M. No. F9631), on behalf of Raama Finance Limited. The company, formerly known as Ramchandra Leasing & Finance Limited, holds CIN L65910GJ1993PLC018912 and RBI Registration No 01.00109.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-4.97%	-0.26%	+8.06%	+107.86%	+344.93%	+3,118.33%

Raama Finance Limited promoters Akhil Mittal and Pratika Sharma have pledged a combined 78,12,500 equity shares to secure a term loan for the company. The creation of this encumbrance, executed on July 31, 2026, represents 4.81% of the total share capital for each promoter, bringing the total pledged stake to 9.62%. This move signals the company’s reliance on promoter-backed collateral to fund its operational or expansion requirements through debt instruments.

The disclosure was made in compliance with Regulation 31(1) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The filing, dated August 03, 2026, was submitted to the Bombay Stock Exchange by Rajesh Singh Kaira, Managing Director of Raama Finance Limited. Prior to this event, neither promoter had any encumbered shares, as indicated by the nil pre-event encumbrance figures.

Pledge Details

The table below outlines the specific details of the share encumbrance created by the promoters:

Promoter Name	Shares Held	Pre-Event Encumbrance	Shares Pledged	Post-Event Encumbrance	Lender
Akhil Mittal	2,22,89,981 (27.46%)	NIL	39,06,250 (4.81%)	39,06,250 (4.81%)	Mufin Green Finance Limited
Pratika Sharma	2,22,89,982 (27.46%)	NIL	39,06,250 (4.81%)	39,06,250 (4.81%)	Mufin Green Finance Limited

Both promoters hold an equal stake of 27.46% in the company. The pledge was created in favor of Mufin Green Finance Limited, explicitly cited as being for a "Term loan taken by Target Company." This indicates that the funds are likely intended for corporate use rather than personal liabilities of the promoters, although the specific utilization of the loan proceeds is not detailed in the filing.

What the Numbers Show

The simultaneous pledge of identical share quantities by both primary promoters suggests a coordinated financing strategy. With no prior encumbrances, this marks the first instance of promoter shares being used as collateral for the company’s debt obligations. Investors should monitor whether this pledge leads to further leverage increases or if it is part of a structured long-term financing plan. The retention of a significant unpledged stake (approximately 22.65% per promoter) provides a buffer against immediate margin call risks, assuming stable share prices.