Hexaware Technologies has announced a significant leadership change with the resignation of Chinmoy Banerjee from his executive position. Banerjee served as President & Global Head of Banking and North America Hunting Team at the technology services company.

Executive Departure Details

The resignation announcement provides specific details about the timing and circumstances of Banerjee's departure from Hexaware Technologies.

Leadership Impact

Banerjee's departure represents a notable change in the company's senior leadership structure. His role encompassed dual responsibilities covering both the banking vertical and the North America hunting team operations. The resignation affects key strategic areas of the company's business operations, particularly in the banking sector and North American market presence.

Transition Timeline

The announced effective date of January 26, 2026, provides Hexaware Technologies with advance notice for succession planning and transition arrangements. This timeline allows the company to manage the leadership change in an organized manner while maintaining operational continuity in the affected business segments.

Hexaware Technologies Limited has formally disclosed to stock exchanges that it does not qualify as a Large Corporate under the Securities and Exchange Board of India's framework for debt securities issuance. The IT services company made this clarification on January 08, 2026, through official communications to both the National Stock Exchange of India and BSE Limited.

Regulatory Compliance Disclosure

The disclosure was made pursuant to SEBI Circular No. SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023, which mandates entities to clarify their status under the fund raising framework for debt securities by Large Corporates. Under Para 3.1 (a) of this circular, companies are required to make initial disclosures regarding their classification status.

The company confirmed that it does not fall under the category of Large Corporate as per the applicability criteria specified in the SEBI circular. This determination is based on the regulatory framework outlined in Chapter XII of SEBI's Operational circular dated August 10, 2021.

Financial Position Details

Hexaware Technologies provided specific financial information to support its non-Large Corporate status classification:

The company reported zero outstanding borrowings as of December 31, 2025, which is a key factor in determining its classification under the SEBI framework. With no debt on its books, the company clearly falls outside the Large Corporate criteria that typically applies to entities with significant borrowing requirements.

Authorized Signatories

The disclosure was jointly signed by two key executives of Hexaware Technologies. Gunjan Methi, Company Secretary and Compliance Officer, and Vikash Kumar Jain, Chief Financial Officer, both digitally signed the documents on January 08, 2026. The dual authorization reflects the importance of regulatory compliance and ensures proper corporate governance in making such disclosures.

Regulatory Framework Context

The SEBI framework for Large Corporates is designed to ensure adequate debt market participation by entities with substantial borrowing capacity. Companies classified as Large Corporates are subject to specific requirements regarding their debt raising activities and must maintain certain thresholds of borrowings from debt securities markets.

By confirming its non-Large Corporate status, Hexaware Technologies has fulfilled its regulatory obligation to provide transparency regarding its position under this framework. This disclosure ensures that investors and regulatory authorities have clear information about the company's debt profile and regulatory classification status.