Morarka Finance Clarifies Appointment of Pranay G. Morarka as Managing Director Amidst Regulatory Requirements

Morarka Finance Clarifies Appointment of Pranay G. Morarka as Managing Director Amidst Regulatory Requirements​

Morarka Finance Limited confirmed that its Board of Directors passed a resolution clarifying the appointment of Mr. Pranay G. Morarka as the company's Managing Director (Additional Director). The clarification was issued following the initial approval of his role, ensuring all necessary regulatory conditions are met concerning the appointment.

The Board of Directors had originally approved Mr. Pranay G. Morarka for the position of Managing Director on April 23, 2026. This original approval set a term of five years commencing from April 24, 2026.

The resolution passed by the Board of Directors on June 03, 2026, is purely clarificatory in nature. It expressly records that Mr. Morarka's appointment, to the extent applicable, is subject to obtaining all required approvals, permissions, acknowledgments, or compliance from the Reserve Bank of India (RBI). This includes adhering to various RBI directions and circulars, specifically mentioning the Reserve Bank of India Non-Banking Financial Companies Governance Directions, 2025.

The company emphasized that this resolution does not modify the substance of the approval granted on April 23, 2026, nor does it constitute a fresh appointment or re-appointment. The clarification merely ensures that the original Board approval is considered in conjunction with all applicable regulatory requirements set forth by the RBI.

Stock Price Movement​

Morarka Finance Ltd shares settled at ₹54.90 after market close, reflecting a 0.09% drop for the stock. The equity remained completely flat throughout the session, with both the intraday high and low remaining locked at the same price point.