Usha Financial Services has appointed Sudhanshu Singhal as an Additional Director (Non-Executive & Independent) on its Board of Directors, effective August 03, 2026. The appointment aims to strengthen the board’s composition with expertise in corporate governance and regulatory compliance, ensuring an optimum balance of executive and non-executive directors. This move supports the company’s strategic oversight capabilities while maintaining conformity with prescribed regulatory requirements for independent representation.

The appointment was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Para A of Part A of Schedule III and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. It was also approved under Sections 149, 152, and 161 of the Companies Act, 2013, following a recommendation by the Nomination and Remuneration Committee. The Board passed the resolution through circulation (RBC-01 of 2026-27) on August 03, 2026.

Singhal will hold office until the date of the ensuing General Meeting of the Company, where his appointment requires final ratification by shareholders. He is not liable to retire by rotation during this interim period. The Board confirmed that Singhal fulfills the criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013 and Regulation 16(1)(b) of the SEBI LODR Regulations, 2015.

Profile of Appointee

Sudhanshu Singhal (DIN: 08167554) is a Registered Independent Director enrolled in the Independent Directors' Databank maintained by the Indian Institute of Corporate Affairs (IICA). He is a Fellow Member of the Institute of Company Secretaries of India (ICSI) with over a decade of experience in corporate laws, regulatory compliance, secretarial practices, FEMA, and RBI regulations.

Singhal serves as the Founder and Proprietor of M/s Sudhanshu Singhal & Associates and is a Designated Partner of M/s Profbrill Corp Advisory LLP. His professional experience includes advising companies across diverse sectors on corporate restructuring, governance frameworks, regulatory approvals, mergers and acquisitions, foreign investments, and statutory compliance. He brings objective judgment and integrity to the Board, focusing on risk management and stakeholder interests.

Regulatory Compliance and Next Steps

The company has disclosed that there are no relationships between directors requiring further disclosure. The resolution authorizes Rajesh Gupta (Chairman cum Managing Director), Geeta Goswami (CEO & Director), or Kritika Goswami (Company Secretary and Compliance Officer) to execute necessary documents, file e-forms with the Registrar of Companies, and obtain any additional statutory approvals required. The information has been uploaded to the company’s website and submitted to the National Stock Exchange of India Limited for record purposes.

Usha Financial Services has appointed Mr. Gopal Rawat as its interim Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective July 1, 2026. The decision was approved by the Board of Directors during its meeting held on Wednesday, following recommendations from the Nomination and Remuneration Committee and the Audit Committee. This appointment is a temporary measure to ensure continuity in the company's financial leadership until a regular CFO is appointed.

Mr. Rawat, who has been serving as Senior Manager – Accounts at Usha Financial Services Limited since April 2018, brings extensive experience to the role. He holds an MBA in Finance & Operations Management, a Master of Commerce, and a Bachelor of Commerce. His career spans approximately 20 years across financial services, real estate, retail, and property management sectors.

Profile of the Interim CFO

The appointment details were disclosed to the National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that the interim appointment will continue until the earlier of the appointment of a regular CFO by the Board or a date determined by the Board.

Prior to his current role, Mr. Rawat held key finance and accounts positions at Sare Homes Project Services Pvt. Ltd., Aerens GS International Limited, E-city Property Management & Services Pvt. Ltd., and Pantaloon Retail (India) Limited. His expertise covers financial reporting, taxation, statutory compliance, budgeting, treasury management, and internal controls.