Muthoot Capital Services Limited Announces Board Appointments and New Tax Auditor
Muthoot Capital Services Limited has announced significant changes to its management and audit framework following a Board of Directors meeting held on July 16, 2026. The company confirmed the appointment of a new Independent Director, the re-appointment of an existing Independent Director, and the selection of a firm to serve as the Tax Auditor for the upcoming financial year.Leadership Appointments
The Board has approved the appointment of Ms. Manimekhalai A as a Non-Executive Independent Director. Ms. Manimekhalai A brings over three decades of experience in India's public sector banking industry. She previously served as the Managing Director and CEO of Union Bank of India, where she was the first woman to hold that position. Her professional background includes leadership roles at Canara Bank and Vijaya Bank, with expertise spanning strategic planning, digital transformation, and financial inclusion.Simultaneously, the Board approved the re-appointment of Mrs. Shirley Thomas as a Non-Executive Independent Director for a second consecutive term of five years. Mrs. Shirley Thomas holds extensive experience with the State Bank of India (SBI), having held senior management roles in Sales and Distribution, Strategic Partnership, and Risk Management. She currently holds directorships in several other entities including Bamni Proteins Limited and Nitta Gelatin India Limited.
The following table summarizes the details regarding these board appointments:
| Director | Role | Term/Effective Date | Professional Background |
|---|---|---|---|
| Ms. Manimekhalai A | Non-Executive Independent Director | Effective July 16, 2026 (5-year term) | Former MD and CEO of Union Bank of India; public sector banking expert |
| Mrs. Shirley Thomas | Non-Executive Independent Director | Effective November 25, 2026 (5-year term) | Extensive experience with State Bank of India in Sales, Risk, and Corporate Banking |
Appointment of Tax Auditor
In a further operational update, the Board approved the appointment of M/s. K. Venkatachalam Aiyer & Co., Chartered Accountants, as the Tax Auditor for the Financial Year 2026-27.Established in 1945, M/s. K. Venkatachalam Aiyer & Co. maintains an active office in Kochi and provides services on a PAN-India basis. The firm specializes in Audit and Assurance, Taxation, Accounting, and Risk Advisory, with significant experience auditing financial services clients, including banks and NBFCs.
The appointment of the Tax Auditor is for a term of one financial year.
MUTHOOTCAP Stock Price Movement
Muthoot Capital Services Limited shares rallied on Thursday to settle at ₹233.77, gaining 2.66% during the session. The stock traded with a volume of 65,739 shares as it moved from a day low of ₹227.5 to a high of ₹239.9.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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