5paisa Capital Strengthens Board Committees with New Independent Director

5Paisa Capital Limited, a prominent player in the financial services sector, has announced significant changes to its board committees, enhancing its corporate governance structure. The company has reconstituted its Information Technology (IT) Committee and Independent Directors (ID) Committee by inducting Mr. Zor Gorelov, an Additional Non-Executive Independent Director, as a member in both committees.

Committee Restructuring

The reconstitution, approved by the Board of Directors through a circular resolution on November 7, 2025, will take effect from November 10, 2025. This move aligns with the company's commitment to maintaining robust corporate governance practices and leveraging diverse expertise in its decision-making processes.

Information Technology Committee

The reconstituted IT Committee now comprises seven members, bringing together a blend of technological and managerial expertise. The updated composition is as follows:

Sr. No.	Name	Position	Designation
1.	Mr. Ameya Agnihotri	Chairman	Whole-time Director & Chief Technology Officer
2.	Mr. Milin Mehta	Member	Non-Executive Independent Director
3.	Mr. Gaurav Seth	Member	Managing Director & Chief Executive Officer
4.	Dr. Sarat Kumar Malik	Member	Non-Executive Independent Director
5.	Mr. Zor Gorelov	Member	Additional Non-Executive Independent Director
6.	Mr. Yogesh Maroli	Member	Chief Information Security Officer
7.	Mr. Nilesh Chaudhari	Member	External Independent Expert

Independent Directors Committee

The ID Committee, crucial for maintaining independence in board decisions, has also been strengthened. The reconstituted committee consists of five non-executive independent directors:

Sr. No.	Name	Position	Designation
1.	Dr. Sarat Kumar Malik	Chairman	Non-Executive Independent Director
2.	Ms. Nirali Sanghi	Member	Non-Executive Independent Director
3.	Dr. Archana Hingorani	Member	Non-Executive Independent Director
4.	Mr. Milin Mehta	Member	Non-Executive Independent Director
5.	Mr. Zor Gorelov	Member	Additional Non-Executive Independent Director

Implications and Compliance

This restructuring is in line with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has duly informed the stock exchanges - BSE Limited and the National Stock Exchange of India Ltd. - about these changes.

The inclusion of Mr. Zor Gorelov in both committees is expected to bring fresh perspectives and additional expertise to 5paisa Capital's governance structure. This move may potentially enhance the company's technological strategy and independent oversight, which are crucial in the rapidly evolving fintech landscape.

Investors and stakeholders can access more information about these changes on the company's official website at https://www.5paisa.com/investor-relations .

As 5paisa Capital continues to evolve its corporate structure, these committee reconstitutions reflect the company's ongoing commitment to strong governance practices and adaptability in the face of changing market dynamics.

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5Paisa Capital Limited, a prominent player in the Indian fintech space, has been advised by the Securities and Exchange Board of India (SEBI) to surrender its Research Analyst Registration Certificate. This development comes in the wake of the company's failure to renew its registration within the prescribed timeframe.

Key Details of the Advisory

According to the company's disclosure to the stock exchanges:

SEBI communicated the advisory on October 28, 2025, via email.
The advisory follows earlier correspondence regarding the expiry of the Research Analyst registration and a Show Cause Notice issued under Section 12(3) of the SEBI Act, 1992.
The company is required to submit an online application for surrender through the BSE portal.

Reason for Surrender

The primary reason for this advisory is the company's non-compliance with regulatory requirements. As per Clause 3 of the Second Schedule to the SEBI (Research Analysts) Regulations, 2014:

Research Analysts are required to pay prescribed renewal fees every five years from the date of grant of registration.
This payment should be made within three months before the expiry of the validity period to keep the registration in force.
5paisa Capital failed to remit the renewal fees within the stipulated time, resulting in the expiry of the Certificate of Registration.

Impact on Operations and Financials

Despite the regulatory action, 5paisa Capital has assured stakeholders that this development will not significantly affect its business operations or financial performance. The company stated:

The Research Analyst activity is not a core business segment of the company.
The surrender of the Research Analyst Certificate does not have any material impact on the operations or financials of the company.

Company's Response

5paisa Capital has committed to initiating the process of surrendering the Research Analyst Registration Certificate as advised by SEBI. The company also reaffirmed its commitment to maintaining high standards of corporate governance and ensuring compliance with SEBI Listing Regulations.

As the fintech landscape continues to evolve, it remains to be seen how this regulatory development will influence 5paisa Capital's strategy and market positioning in the long term.