GSB Finance Limited has successfully completed a major board restructuring exercise on February 16, 2026, regularizing four new directors and updating its constitutional documents following a management change approved by the Reserve Bank of India. The comprehensive changes were implemented through postal ballot resolutions that received strong shareholder support.

Board Appointments and Leadership Changes

The company regularized four key director appointments as part of its management restructuring:

Vivek Kumar Singhal, a Chartered Accountant with 18 years of experience in stock and capital markets, was appointed as the Managing Director. Kshitij Agrawal, holding a Masters in Computer Science with extensive financial market experience, joined as a Non-Executive Director.

Independent Directors' Expertise

The company strengthened its independent oversight with two experienced professionals. Hari Chand Mittal brings over 37 years of banking experience from Union Bank of India, where he served in various leadership positions including Field General Manager for Maharashtra under Pune Zone before retiring in July 2019. He holds a Master of Commerce degree and is a certified associate from the Indian Institute of Bankers.

Sweta Pareek, an MBA graduate with expertise in revenue management and business analytics, previously served as Revenue Executive at Hyatt Regency Kathmandu from 2022-2024. She has been appointed as Chairperson of multiple board committees including Audit, Nomination and Remuneration, and Stakeholder Relationship Committees.

Constitutional Document Updates

The company adopted new Memorandum of Association (MOA) and Articles of Association (AOA) to align with the Companies Act, 2013, replacing the previous documents based on the erstwhile Companies Act, 1956. These amendments were initially approved by the Board of Directors on January 16, 2026, subject to shareholder approval.

Postal Ballot Results and Scrutinizer Details

All six resolutions were successfully passed through postal ballot conducted from January 17, 2026, to February 16, 2026, under the supervision of scrutinizer Ashita Kaul from Ashita Kaul & Associates (CS, Membership No. 6988). The voting results demonstrated strong shareholder confidence:

The postal ballot was conducted entirely through e-voting on the platform provided by MUFG Intime India Private Limited (formerly Link Intime Private Limited), with the cut-off date set as January 09, 2026. The total number of shareholders on record date was 12,356, with the remote e-voting facility provided to eligible members holding shares as on the cut-off date.

Committee Restructuring

The new board composition includes strategic committee appointments across key governance areas. Vivek Kumar Singhal will serve as Chairperson of the Risk Management Committee and member of Audit and Stakeholder Relationship Committees. Sweta Pareek has been appointed as Chairperson of Audit, Nomination and Remuneration, and Stakeholder Relationship Committees, while Hari Chand Mittal will serve as member of Audit and Nomination and Remuneration Committees.

The management changes reflect the company's strategic direction following the change in control approved by the Reserve Bank of India, positioning GSB Finance Limited for its next phase of growth with enhanced governance and experienced leadership.

GSB Finance Limited has announced a board meeting to review its quarterly financial performance, scheduled for January 28, 2026. The meeting will focus on considering and approving the company's unaudited standalone financial results for the third quarter ended December 31, 2025.

Board Meeting Details

The board meeting has been scheduled in accordance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Key details of the upcoming meeting include:

The board will take on record the unaudited standalone financial results along with the limited review report for the quarter and year ended December 31, 2025. The meeting will be conducted at the company's registered office located at 201, 2nd Floor, Eco Space I.T. Park Building, Village Mogra, Old Nagardas Road, Andheri(E) Mumbai.

Trading Window Restrictions

In compliance with SEBI (Prohibition of Insider Trading) Regulation, 2015, GSB Finance Limited has implemented trading window restrictions affecting key stakeholders. The trading window closure details are as follows:

The company has confirmed that directors, employees, auditors, and their dependents are not permitted to deal in the company's shares during this restricted period, which will conclude 48 hours after the board meeting ends.

Regulatory Compliance

The announcement was made through a formal communication to BSE Limited, where GSB Finance Limited shares are listed under scrip code 511543. The notification was signed by Payal Jain, Company Secretary and Compliance Officer (Membership No.: A73458), and submitted on January 22, 2026.

GSB Finance Limited operates with its corporate office located at 301, 2nd Floor, Eskay Plaza, Anand Talkies Road, Raipur, Chhattisgarh. The company maintains transparency in its regulatory communications and adheres to prescribed disclosure requirements for listed entities.