Max Financial Services Limited Announces Retirement of Independent Director
Max Financial Services Limited announced today, March 29, 2026, the retirement of Mr. K. Narasimha Murthy from his position as an Independent Director. Mr. Murthy’s term concludes at the close of business hours on March 29, 2026.Mr. Murthy was initially appointed as an Independent Director on March 30, 2021, for a five-year term. The company’s shareholders were asked to approve a special resolution for his reappointment for a second consecutive term of five years, commencing March 30, 2026. However, the resolution did not receive the required 75% majority, securing 66.77% of the votes cast at the 37th Annual General Meeting on September 18, 2025.
The Board of Directors expressed their appreciation for Mr. Murthy's contributions during his tenure with the company.
Below is a summary of the key details regarding Mr. Murthy’s departure:
| Particulars | Details |
|---|---|
| Reason for change | Retirement upon completion of his term as an Independent Director of the Company at the close of business hours on March 29, 2026. |
| Date of cessation & term | Cessation of office as an Independent Director of the Company at the close of business hours on March 29, 2026. |
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