SBI Life Insurance Company Ltd appointed Nihar Niranjan Jambusaria as an Additional Independent Director for a term of three consecutive years commencing September 22, 2026. The appointment was approved by the Board of Directors based on the recommendation of the Nomination and Remuneration Committee.

The Board meeting held on September 22, 2026, concluded at 7:00 pm after approving the appointment pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that Jambusaria is not debarred from holding the office of Director by any SEBI order or other authority.

Profile and professional background

Jambusaria is a Chartered Accountant qualified in 1984 with over four decades of experience in finance and taxation. He served as Senior Vice President – Taxation at Reliance Industries Limited until April 2020. Currently, he operates in advisory practice focusing on Direct Tax, International Tax, M&A, FEMA matters, and Business Restructuring.

His current directorships include:

• IIFL Finance Limited
• IIFL Samasta Limited
• The Clearing Corporation of India Limited
• Blossom Industries Limited
• Pranav Construction Limited
• Prabhudas Lilladher Advisory Services Limited
• Neo Asset Trustee Private Limited

He previously served as President and Vice President of the Institute of Chartered Accountants of India (ICAI) and chaired the IndAS Implementation Committee. Additionally, he served on the Board of the National Financial Reporting Authority (NFRA) as ICAI's ex-officio representative.

Governance details

The appointment adds significant regulatory and accounting expertise to the board, given Jambusaria’s leadership roles in standard-setting bodies like the ICAI and NFRA.

SBI Life Insurance has reappointed M/s. K S Aiyar & Co. and M/s. J Singh & Associates as its Joint Statutory Auditors for the financial year 2026-27. The appointment follows a letter dated September 09, 2026, from the Comptroller & Auditor General of India (C&AG). Both firms have conveyed their acceptance of the reappointment.

The company made the disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015. It also cited Section 139 read with Section 129(4) of the Companies Act, 2013. The filing was signed by Sangramjit Sarangi, an authorised signatory at the insurer.

Auditor Profiles

M/s. K S Aiyar & Co., bearing FRN No. 100186W, provides audit and assurance services along with taxation and advisory. The firm operates from a head office in Mumbai with branch offices in Hyderabad, Chennai, Bangalore, Kolkata, and Coimbatore.

M/s. J Singh & Associates, holding FRN No. 110266W, offers forensic audit, special investigation, and management consultancy services. Established in 1978, the firm maintains a head office in Mumbai and 22 branches across India.