Kumbhat Financial Services Limited has officially announced a significant change in its key managerial personnel through a formal communication to BSE Limited under Regulation 30 of SEBI (LODR) Regulations, 2015. The company has appointed a new Company Secretary and Compliance Officer as part of a planned leadership transition.

Leadership Transition Details

The transition involves the departure of Mohan Raj S, who ceased to be the Company Secretary and Compliance Officer with effect from the close of business hours on February 28, 2026. This change was communicated as a continuation of the company's previous stock exchange intimation dated February 09, 2026.

New Appointee Profile

Bharath Selva Ganesh P brings substantial qualifications to his new role as Company Secretary and Compliance Officer. According to the official disclosure, his educational background and expertise include:

Regulatory Compliance and Terms

The appointment has been made in strict accordance with regulatory requirements. The company has complied with the provisions of Regulation 30 read with Schedule III of the Listing Regulations and the SEBI Circular dated November 11, 2024, bearing reference number SEBI/HO/CFD/PoD2/CIR/P/0155.

The terms and conditions of employment and remuneration for the new Company Secretary shall be as per the extant policy of the company. This ensures continuity in the company's compliance and secretarial functions while maintaining adherence to all regulatory requirements.

The official announcement was signed by Sanjay Kumbhat, Managing Director (DIN: 03077193), and communicated to BSE Limited for information and record purposes, ensuring full transparency with stakeholders and regulatory authorities.

Kumbhat Financial Services Limited has announced a significant inter-se transfer of shares among its promoter group members, involving the consolidation of family holdings under promoter Sanjay Kumbhat. The company informed BSE on February 27, 2026, about the proposed transaction that will see the transfer of 5,11,200 equity shares, representing 9.60% of the total share capital.

Transaction Details

The share transfer involves multiple family members transferring their holdings to Sanjay Kumbhat, with the transaction scheduled to commence on or after March 6, 2026. The transfers are structured primarily as gifts, with one exception involving a regulated purchase.

Regulatory Compliance and Approvals

The company has secured necessary regulatory approvals for the transaction. The Reserve Bank of India granted approval on February 4, 2026, acknowledging the proposed transfer of shares among existing promoters. The RBI approval covered the transfer of 5,25,900 shares (9.87%) from existing promoters to Sanjay Kumbhat, with slight variations in the final execution details.

The transaction qualifies for exemption under Regulation 10(1)(a)(ii) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as it represents an inter-se transfer among promoter and promoter group members. This exemption means no open offer is required for the acquisition.

Impact on Shareholding Structure

Following the completion of this transaction, Sanjay Kumbhat's shareholding will increase significantly while maintaining the overall promoter group holding unchanged. The consolidation represents a strategic move to streamline family asset management within the promoter group.

Company Background and Compliance History

Kumbhat Financial Services Limited, incorporated in 1993 and headquartered in Chennai, operates as a Non-Banking Financial Company (NBFC). The company has maintained regular compliance with SEBI regulations, including annual disclosures under Regulation 31(4) of SEBI SAST Regulations. Recent filings show Sanjay Kumbhat held 13,05,516 shares as of March 31, 2025, indicating previous acquisitions that have contributed to his growing stake in the company.

The transaction reflects the company's commitment to transparent disclosure practices and regulatory compliance, particularly given its status as a listed NBFC requiring RBI approval for significant shareholding changes.