Bharti Hexacom announced a significant leadership transition in its finance department, with the Board of Directors approving the appointment of Karthikeyan Velu as Chief Financial Officer and Key Managerial Personnel effective January 1, 2026. The decision was made during a board meeting held on December 18, 2025, following recommendations from both the Nomination and Remuneration Committee and Audit Committee.

Leadership Transition Details

The appointment comes as current CFO Akhil Garg submitted his resignation due to organizational movement within the Bharti Group. Garg's tenure as Chief Financial Officer and Key Managerial Personnel concluded on December 31, 2025, at the closure of working hours, ensuring a seamless transition to the new leadership.

Updated Key Managerial Personnel List

Following the CFO transition, Bharti Hexacom has formally updated its Key Managerial Personnel list with stock exchanges under Regulation 30(5) of SEBI regulations. The company submitted the updated list to both National Stock Exchange of India Limited and BSE Limited on January 14, 2026.

New CFO Profile and Experience

Karthikeyan Velu brings extensive experience to his new role as a seasoned telecom finance leader with over two decades in the industry. His career combines deep domain expertise with strong business partnering experience across multiple functional areas within the telecommunications sector.

Velu's professional background includes diverse roles across Circle commercial operations, Shared Services, Revenue Assurance, and Category commercial functions. Most recently, he served as B2C Controller, overseeing commercial operations across all circles and partnering with leadership teams responsible for the Consumer Business. He previously held the position of Group Financial Controller for Airtel.

Educational Background and Career Journey

The incoming CFO holds strong academic credentials with a Master's in Business Administration specializing in Finance and a Bachelor's degree in Engineering. Velu's association with the Airtel organization spans over two decades, having joined as a Management Trainee in 2002 and progressing through various leadership positions.

Regulatory Compliance and Documentation

The company has fulfilled all disclosure requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The formal communication was digitally signed by Company Secretary Amit Chaturvedi and addressed to both stock exchanges with all necessary documentation including updated contact details for regulatory compliance.

This leadership transition reflects Bharti Hexacom's commitment to maintaining strong financial leadership while accommodating strategic organizational movements within the broader Bharti Group ecosystem.

Bharti Hexacom , a prominent player in the Indian telecommunications sector, has recently made headlines with two significant developments that could impact its operations and financial standing.

DoT Imposes Updated Penalty for Subscriber Verification Norms Violation

Bharti Hexacom has received an updated notice from the Department of Telecommunications (DoT), North-East LSA, imposing a penalty of ₹2.92 lakh. The penalty is related to alleged violations of subscriber verification norms, as discovered during a Customer Application Form (CAF) Audit conducted for the quarter ending June 2025.

Key points regarding the penalty:

• The company's license agreement requires adequate verification of customers before enrolling them as subscribers, in compliance with DoT instructions
• The alleged violations pertain to the terms and conditions of subscriber verification under the License Agreement
• DoT conducts periodic Customer Application Form Audits to confirm compliance with licensing terms and conditions
• The maximum financial impact is limited to the extent of the penalty levied
• The penalty disclosed is at a higher rate, which is presently sub-judice before the Honourable TDSAT

Infrastructure Sale Put on Hold

Bharti Hexacom has announced a pause in its plans to sell its infrastructure business to Indus Towers. This decision comes in response to a request from Telecommunications Consultants India Ltd (TCIL), a significant shareholder and public sector undertaking. TCIL has asked Bharti Hexacom to initiate a fresh process for the sale, one that aligns with TCIL's requirements as a public sector entity.

According to the company's disclosure:

• The proposal for the sale of the Passive Infrastructure Business Undertaking, which includes mobile and wireless communication towers and related infrastructure, had initially received overwhelming support
• Despite the management and Board of Bharti Hexacom remaining convinced about the business logic and merit of the proposal, they have agreed to put the current plan on hold
• The company will undertake a new exercise in consultation with TCIL, emphasizing its commitment to maintaining high standards of corporate governance and transparency

Regulatory Compliance and Market Implications

These recent events highlight the regulatory and operational challenges faced by telecommunications companies in India, as they navigate complex business decisions and stringent compliance requirements. The updated penalty notice demonstrates the ongoing scrutiny from regulatory authorities regarding subscriber verification processes.

Investors and stakeholders will be closely watching how Bharti Hexacom manages these developments, particularly the restructuring of its infrastructure sale plans and its approach to regulatory compliance moving forward. The company's ability to address these challenges while maintaining its market position will be crucial in the coming months.