MobiKwik Seeks Shareholder Approval for New Independent Director

One MobiKwik Systems Limited has issued a postal ballot notice dated December 22, 2023, seeking shareholder approval for a key board appointment through remote e-voting. The fintech company is proposing the appointment of Mr. Radhakrishnan Nair as Non-Executive Independent Director for a five-year term.

Director Appointment Details

The company seeks to appoint Mr. Radhakrishnan Nair (DIN: 07225354) as Non-Executive Independent Director, who was initially appointed as Additional Director on December 17, 2023. The proposed appointment requires special resolution approval from shareholders.

Parameter	Details
Appointment Term	December 17, 2023 to December 16, 2028
Annual Remuneration	₹17.00 lakh
Sitting Fees	₹1.00 lakh per Board/Committee meeting
Director Category	Non-Executive Independent Director
Age	70 years

Professional Background

Mr. Nair brings extensive experience spanning over 40 years in banking, capital markets, and insurance sectors. His career highlights include:

Started banking career with Corporation Bank in August 1976
Served as General Manager handling Recovery Management, Legal Services, and Credit Risk Management divisions
Worked as Managing Director of Corporation Bank Securities Limited
Executive Director at Securities and Exchange Board of India (SEBI) from July 2005
Member (Finance and Investment) at Insurance Regulatory and Development Authority of India (IRDAI) from March 2010

Educational Qualifications

Mr. Nair holds comprehensive academic credentials including:

Bachelor of Law from Delhi University
Master of Science from Delhi University
Master in Business Administration (Financial Management) from IGNOU, New Delhi
Post Graduate Diploma in Securities Law from Government Law College, Mumbai

E-Voting Process

The company has engaged National Securities Depository Limited (NSDL) for facilitating remote e-voting. The voting process details are:

Voting Parameter	Timeline
Voting Commencement	December 23, 2023 at 9:00 AM (IST)
Voting Conclusion	January 21, 2024 at 5:00 PM (IST)
Cut-off Date	December 19, 2023
Results Declaration	Within 2 working days of conclusion

Regulatory Compliance

The appointment aligns with regulatory requirements under the Companies Act, 2013, and SEBI Listing Regulations. Notably, since Mr. Nair will attain 75 years during his fifth year of tenure, the special resolution approval will also constitute compliance with Regulation 17(1A) of SEBI Listing Regulations for continuing directorship beyond 75 years.

Company Financial Performance

As disclosed in the explanatory statement, the company's financial performance for FY2022-23 shows:

Financial Metric	Amount (₹ million)
Revenue from Operations	11,639.79
Other Income	304.02
Total Income	11,943.81
Total Expenses	12,714.54
Net Loss	(1,223.66)

The postal ballot notice has been sent electronically to eligible shareholders whose email addresses are registered with the company's registrar MUFG Intime India Private Limited and depositories. The resolution, if approved, will be deemed passed on January 21, 2024.

One MobiKwik Systems is seeking member approval via postal ballot for appointing Radhakrishnan Nair as Independent Director with ₹17.00 lakh annual remuneration. The e-voting period runs from December 23, 2023 to January 21, 2024.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.31%	+1.18%	-2.76%	-3.93%	-61.57%	-55.69%

One MobiKwik Systems has announced the appointment of Navdeep Singh Suri as Board Chairman, marking a significant leadership development for the fintech company. This strategic move aims to strengthen the company's governance framework and institutional capabilities.

Leadership Appointment Details

The appointment of Suri as Board Chairman reflects One MobiKwik Systems' commitment to enhancing its governance practices and long-term institutional maturity. This selection indicates the company's focus on improving its leadership structure and corporate governance standards.

Position	Details
Role	Board Chairman
Appointee	Navdeep Singh Suri
Focus Area	Governance and Institutional Maturity

Strategic Implications

The appointment comes as One MobiKwik Systems continues to operate in the competitive digital payments and financial services sector. The company's emphasis on stronger governance and institutional maturity suggests a focus on building robust corporate structures that can support long-term growth and stakeholder confidence.

Corporate Governance Focus

This leadership change underscores One MobiKwik Systems' commitment to enhancing its governance practices. The appointment of a new Board Chairman is typically viewed as a significant step in strengthening oversight and strategic direction for companies in the fintech space.

The move aligns with broader industry trends where fintech companies are increasingly focusing on institutional maturity and governance excellence. This approach aims to build sustainable business models and maintain regulatory compliance in the evolving digital financial services landscape.