Satin Creditcare Network Limited has announced a leadership transition in its audit function, with the Board of Directors approving the appointment of Mr. Ankit Bhatia as Chief Audit Officer effective April 1, 2026. The decision was made during a board meeting held on March 21, 2026, following recommendations from both the Nomination and Remuneration Committee and Audit Committee.

Leadership Transition Details

The appointment comes as part of a planned succession, with Mr. Amarjit Singh retiring from his position as Chief Audit Officer on March 31, 2026, after serving six years with the company. The transition ensures continuity in the company's audit and governance functions.

Professional Background

Mr. Ankit Bhatia brings extensive expertise to his new role as a Chartered Accountant and Certified Fraud Examiner (CFE) with over 12 years of experience in internal audit, forensic investigations, enterprise risk management, and governance frameworks. His professional background spans multiple sectors, with particular strength in BFSI domains including insurance, asset management companies, stock broking, NBFCs, and HFCs, along with telecom and logistics sectors.

The new Chief Audit Officer possesses strong expertise in several key areas:

• Risk-based audit execution and control testing
• Regulatory compliance assessment and SOP architecture
• Process re-engineering and automation-led control enhancement initiatives
• End-to-end process diagnostics and control rationalization
• Digital transformation initiatives

Company Association and Previous Experience

Mr. Bhatia has been associated with Satin Creditcare Network Limited for the past three years, where he led the Internal Audit for corporate functions and previously headed the Audit Projects vertical. In these roles, he drove comprehensive process diagnostics, control rationalization, and digital transformation initiatives.

Prior to his tenure with Satin Creditcare, Mr. Bhatia worked with Aditya Birla Capital Limited and Ernst & Young, managing assignments in internal audit, risk surveillance, and corporate governance. This diverse experience across different organizations and sectors has equipped him with a comprehensive understanding of audit practices and regulatory requirements.

Regulatory Compliance

The appointment was announced in compliance with Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting commenced at 2.30 P.M. IST and concluded at 4.52 P.M. IST on March 21, 2026, with all necessary approvals obtained for the leadership transition.

The company has provided detailed disclosures as required under Schedule III of the SEBI Listing Regulations, ensuring full transparency regarding the senior management personnel changes. This appointment reinforces the company's commitment to maintaining robust audit and governance standards while ensuring experienced leadership in critical oversight functions.

Satin Creditcare Network Limited has announced a significant fundraising initiative through the issuance of subordinated debentures. The company's Working Committee of Board of Directors, in its meeting held on March 20, 2026, approved the terms and conditions for raising funds through debt instruments on a private placement basis.

Debenture Issue Structure

The approved issuance comprises subordinated, unsecured, listed, rated, taxable, transferable, redeemable, non-convertible debentures with comprehensive features designed to attract institutional investors.

Financial Terms and Timeline

The debentures offer attractive terms for investors with a competitive interest rate and structured payment schedule. The instruments are designed with a medium-term maturity profile suitable for institutional investment portfolios.

Key Features and Investor Protection

The debentures incorporate several investor-friendly features and protection mechanisms. In case of payment delays exceeding three months from the due date, the company will pay additional interest at 2% per annum over the base interest rate on outstanding principal amounts until the default is cured.

The instruments will be:

• Subordinated and unsecured in nature
• Rated and listed for transparency and liquidity
• Transferable allowing secondary market trading
• Redeemable on a pari passu basis on the final redemption date

Regulatory Compliance

The announcement was made in compliance with Regulations 30 & 51 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The board meeting commenced at 12:20 PM and concluded at 12:50 PM on March 20, 2026, with Company Secretary & Chief Compliance Officer Vikas Gupta signing the regulatory filing.

The debenture issuance represents a strategic move by Satin Creditcare Network Limited to strengthen its capital base through debt financing, providing the company with additional resources for business expansion and operational requirements.