Rajath Finance Limited, a financial services company, has announced the appointment of Shanker Raman Siddhanathan as its new Director and Managing Director for a five-year term. The appointment, effective from August 26, 2025, was approved by shareholders at the company's 40th Annual General Meeting held on September 24, 2025.

New Leadership at Rajath Finance

Shanker Raman Siddhanathan, a 47-year-old finance professional, brings over 25 years of experience to his new role at Rajath Finance. His expertise spans operational leadership, lending operations, and customer excellence, making him a valuable addition to the company's executive team.

Professional Background

Siddhanathan's credentials include:

• An MBA in Banking & Finance
• Previous roles at notable financial institutions:
  • Adani Capital Private Limited
  • Lendingkart Finance Limited
  • U Gro Capital Private Limited
  • Religare Finvest Limited

Appointment Details

Key points regarding Siddhanathan's appointment include:

• Term: Five years, commencing from August 26, 2025
• Position: Director and Managing Director
• Regulatory Compliance: Siddhanathan is not debarred from holding the office of a director by any SEBI order or other regulatory authority
• Other Directorships: He currently holds no other directorships in public limited companies

Company Governance

The Annual General Meeting, which took place from 2:30 PM to 5:00 PM, also addressed other important matters:

• Adoption of audited financial statements for the year ended March 31, 2025
• Reappointment of Mr. Ashok Kumar Mittal, who retired by rotation
• Appointment of secretarial auditors
• Approval of various related party transactions
• Increase in the company's borrowing limits

Looking Ahead

With Siddhanathan's extensive experience in the financial sector, Rajath Finance Limited appears well-positioned for potential growth and development. His leadership is expected to contribute to the company's strategic direction and operational excellence in the dynamic financial services landscape.

Rajath Finance Limited (RFL) has made several significant announcements following its recent board meeting, including the approval of a rights issue and multiple changes to its board and key positions.

Rights Issue Approval

The board of Rajath Finance Limited has greenlit a 1:4 rights issue of equity shares to existing shareholders. This move is set to raise approximately Rs. 16.00 crore through the issuance of 1.60 crore equity shares with a face value of Rs. 10 each on a partly paid-up basis.

Board and Management Changes

New Appointments

RFL has made several key appointments:

• Ashok Kumar Nag: Appointed as an additional non-executive independent director
• Anil Bhutra & Co: Named as the internal auditor for the fiscal year 2024-25
• N.C. Vaishnav & Co: Appointed as statutory auditors
• Samir Gajjar & Co: Designated as the valuer for the rights issue
• Vivro Financial Services Private Limited: Engaged as the merchant banker

Resignations

The company also announced the departures of:

• Prakash Shah and Jayna Shah: Resigned from their positions as independent directors
• A.D. Vyas & Co: Stepped down as statutory auditors

Other Key Decisions

1. The board has authorized the subscription of shares in Lord Krishna Financial Services Limited.
2. Approval of the annual report for the year ended March 31, 2024.
3. Arrangements for the upcoming Annual General Meeting for FY 2023-2024 have been finalized.

Financial Results

Rajath Finance Limited's board has approved the unaudited quarterly financial results for the quarter ended June 30, 2024. However, specific details of these results were not provided in the announcement.

These developments signal significant changes in Rajath Finance Limited's corporate structure and strategy, potentially impacting its future operations and shareholder value. Investors and stakeholders are advised to keep a close watch on further announcements from the company regarding the implementation of these decisions.