Manba Finance Limited has rolled out a broad leadership refresh, combining a renewal of independent governance with a slate of executive appointments and remuneration revisions. In a board meeting held on 22 September 2026, the company confirmed the re-appointment of Neelam Tater as an Independent Director for a five-year term, underscoring continuity in oversight while the company steers through a phase of growth and capital mobilization. The emphasis on governance comes alongside a coordinated renewal of the executive team, including the re-appointment of the company’s Managing Director and three Whole-Time Directors, each with updated remuneration terms.
Manish Kiritkumar Shah will continue as Managing Director for a three-year term from 1 April 2027, with a revised compensation package aligned to the company’s growth agenda. Joining him in the executive ranks, Monil Manish Shah, Nikita Manish Shah and Jay Mota are slated to serve as Whole Time Directors for three years from 15 January 2027, each with revised remuneration. Acknowledging familial and professional links within the leadership, the company disclosed relationships among these directors, including parental and spousal connections among Shah family members who share leadership responsibilities. The board’s move signals a concerted push to align strategic execution with governance leadership as Manba Finance seeks to bolster its lending and financing activities.
Beyond personnel moves, the board also approved a preparatory framework for a significant capital initiative and governance enhancements. The company has earmarked a private placement of up to 5,000,013 Equity Shares and up to 2,407,223 Fully Convertible Warrants, with an aggregate cap of ₹100 crore, aimed at funding lending activity and strengthening balance sheet flexibility. An extraordinary general meeting is scheduled for 19 October 2026 to seek member approvals, with a focus on governance and capital structure, including the reconstitution of several board committees to support strategic priorities in ALCO, IT strategy, information security and risk oversight. The leadership transition, coupled with a capital strategy, positions Manba Finance to pursue its growth trajectory while reinforcing oversight and accountability at the top.