IFCI Limited , a prominent government-owned financial institution, has announced a significant change in its leadership. The company has appointed Shri Shailesh Kumar as Government Director on its Board, effective August 05, 2025. This appointment marks a new chapter in IFCI's governance structure, bringing in a wealth of experience from various government sectors.

A Multifaceted Professional

Shri Shailesh Kumar, with his DIN 11226831, brings a unique blend of technical and financial expertise to IFCI's board. His educational background is impressive, boasting a Master's degree in Physics and an MBA in Finance. This combination of scientific acumen and financial knowledge positions him well to contribute to IFCI's strategic decisions.

Current Role and Responsibilities

At the time of his appointment, Shri Kumar holds a crucial position in the Ministry of Finance's Department of Financial Services (DFS). His responsibilities include overseeing the Debt Recovery Division and Legal Cell, where he is involved in policy formulation and strategies to strengthen India's financial institutions and recovery frameworks.

A Rich Career in Public Service

Shri Kumar's career trajectory showcases his versatility and depth of experience in public administration:

• Ministry of Education: Started his career in the Finance Division.
• Ministry of Civil Aviation: Contributed to aviation security policy development.
• Ministry of Overseas Indian Affairs: Involved in implementing Emigration Policy.
• 14th Finance Commission: Served as Deputy Director, shaping fiscal federalism.
• Union Public Service Commission (UPSC): Handled matters in the All India Services Division and Special Cell.
• Ministry of Power: Worked as Deputy Secretary (Distribution) and represented the Government of India in Power Finance Corporation (PFC).

Appointment Details

IFCI Limited confirmed that Shri Kumar's appointment is in compliance with regulatory requirements. The company stated:

• The appointment is effective from August 05, 2025.
• Shri Kumar is not debarred from holding the office of Director by any SEBI Order or other authority.
• He has no relationship with existing Board directors of IFCI Limited.

Implications for IFCI

This appointment is expected to bring fresh perspectives to IFCI's board, given Shri Kumar's diverse experience in various government departments. His background in finance, coupled with his exposure to different sectors like education, aviation, power, and financial services, could prove valuable in shaping IFCI's future strategies and operations.

IFCI Limited, as a government undertaking, plays a crucial role in India's financial landscape. The addition of Shri Shailesh Kumar to its board underscores the company's commitment to leveraging experienced professionals in its governance structure.

As IFCI continues its mission of contributing to India's development, stakeholders will be keenly watching how Shri Kumar's expertise and insights will influence the company's direction and performance in the coming years.

IFCI Limited (IFCI), a Government of India undertaking, has announced a significant change in its board composition. The company has appointed Shailesh Kumar as a new Director, following a nomination by the Government of India.

Key Details of the Appointment

• New Director: Shailesh Kumar, Deputy Secretary at the Department of Financial Services, Ministry of Finance
• Effective Date: July 29, 2025
• Replacing: Surjith Karthikeyan, who ceased to be a Director on the same date
• Appointment Basis: Nominated under Article 124(i) of IFCI's Articles of Association

Government Nomination and Transition

The appointment comes as a result of a directive from the Government of India, specifically the Ministry of Finance's Department of Financial Services. The nomination was made through a letter dated July 24, 2025, and received by IFCI on July 29, 2025.

Immediate Effect and Tenure

Shailesh Kumar's appointment is effective immediately from July 29, 2025, and will continue until further orders from the government. This swift transition ensures continuity in the company's governance structure.

Regulatory Compliance

IFCI Limited has promptly disclosed this change in directorship in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. This transparency aligns with the company's commitment to keeping shareholders and the market informed of significant corporate developments.

About IFCI Limited

IFCI Limited, established in 1948, is one of India's oldest financial institutions. As a government undertaking, it plays a crucial role in the country's financial landscape, focusing on infrastructure financing and development-oriented activities.

This change in directorship represents the government's ongoing involvement in IFCI's governance and may bring fresh perspectives to the company's strategic direction.