Intellect Design Arena Limited , a global financial technology leader, has announced a significant change in its key managerial personnel. The company's Board of Directors has approved the appointment of Prakash Bharadwaj as the new Company Secretary and Compliance Officer, effective August 1, 2025. This decision comes as V.V. Naresh, the current Company Secretary, is set to retire on July 31, 2025, upon reaching superannuation age.

Leadership Transition

The transition in the Company Secretary role marks an important development for Intellect Design Arena. V.V. Naresh, who has been serving as the Company Secretary and Compliance Officer, will step down from his position at the close of business hours on July 31, 2025. Following this, Prakash Bharadwaj will take over the responsibilities starting August 1, 2025.

New Appointment Details

Prakash Bharadwaj brings a wealth of experience to his new role at Intellect Design Arena. With over 12 years of diverse experience in corporate and securities laws, Bharadwaj has an impressive professional background. He was previously associated with the Infosys group for more than six years and has also worked with other notable organizations including Mindtree, HSBC, and TCS.

Qualifications and Expertise

Bharadwaj's qualifications make him well-suited for this crucial position. He is a member of the Institute of Company Secretaries of India (ICSI) and holds a Master's degree in Business Laws from the prestigious National Law School. His extensive experience spans various aspects of corporate governance, including:

• Regulatory compliance
• Policy advocacy
• Change management
• Compliance automation
• Complex corporate actions

Responsibilities

In his new role, Prakash Bharadwaj will be:

• Designated as a Key Managerial Personnel
• Part of the Senior Management Personnel
• Authorized to determine the materiality of events and make disclosures to stock exchanges under Regulation 30 of the SEBI Listing Regulations

These responsibilities were previously held by V.V. Naresh.

Board Approval and Disclosure

The appointment was approved by Intellect Design Arena's Board of Directors at their meeting held on July 25, 2025, based on the recommendation of the Nomination, Remuneration and Compensation Committee. This change has been duly reported to the National Stock Exchange of India and BSE Limited, in compliance with regulatory requirements.

Company's Statement

While announcing this change, Intellect Design Arena acknowledged the contributions of the outgoing Company Secretary, V.V. Naresh, and expressed confidence in Prakash Bharadwaj's abilities to take on this critical role.

This leadership transition comes at a time when Intellect Design Arena continues to strengthen its position in the global financial technology sector. The company recently announced a significant deal with a Tier 1 Canadian bank for its eMACH.ai Payments and Cash Management solutions, further solidifying its presence in the North American banking landscape.

As Intellect Design Arena navigates this leadership change, the financial technology sector will be watching closely to see how this transition impacts the company's future strategies and growth in the competitive fintech market.

Intellect Design Arena , a global financial technology leader, has reported its financial results for the first quarter while simultaneously announcing a significant deal with a Tier 1 Canadian bank.

Financial Performance

The company's Board approved the unaudited financial results for the quarter ended June 30. Key highlights include:

Consolidated Results:

Standalone Results:

The consolidated results include 26 subsidiaries and 2 associates. Employee benefit expenses included stock-based compensation costs of ₹120.65 million for consolidated results and ₹59.99 million for standalone results.

Major Deal Win

Intellect Design Arena announced a significant expansion of its partnership with a Tier 1 Canadian multinational bank. The bank has selected Intellect's eMACH.ai Payments and Cash Management solutions for real-time, intelligent platform modernization across its Corporate & Investment Banking operations in the United States.

This deal follows the bank's recent adoption of eMACH.ai Core Banking and marks a strategic step in building a scalable, digital-first enterprise architecture. The eMACH.ai Payments and Cash Management solution is built on a composable 9-layer architecture, designed to:

• Process high volumes at speed
• Simplify bulk transactions
• Reduce operational costs
• Ensure fail-safe, real-time payments

Strategic Implications

Manish Maakan, CEO of Intellect Wholesale Banking, emphasized the strategic importance of this deal, stating:

"With this expanded partnership, we are enabling the bank to reimagine real-time cash management and remittances across markets, while enabling sophisticated cash management offerings to US clients, and significant operational efficiency."

The expansion signifies a deepening of Intellect's strategic footprint in the North American banking landscape and solidifies its credentials in powering large-scale digital payment infrastructures.

Looking Ahead

While the Q1 financial results have been reported, the new deal with the Canadian bank represents a positive development for Intellect Design Arena. The company's focus on innovative financial technology solutions and its ability to secure partnerships with major international banks may contribute to its future performance.

The board meeting for approving these results was held on July 25, and the results were subject to limited review by statutory auditors.