Independent Director Ceases on Completion of Second Term; Board Now Has Five Directors
Mr. Velayudhanpillai Harikumar has ceased to be an Independent Director with effect from close of business on September 24, 2026, on completion of his second term.
By ScoutQuest · · 1 min read
- Director Ceased
- Mr. Velayudhanpillai Harikumar ceased to be an Independent Director with effect from close of business on September 24, 2026
- Reason for Cessation
- Completion of second term
- Board Composition
- 5 directors: 1 Managing Director, 1 Whole-time Director, 2 Independent Directors and 1 Additional Independent Director
What was shared
JMJ Fintech Limited, a BSE-listed non-banking financial company, intimated the exchange under Regulation 30 of SEBI LODR that the second term of office of Mr. Velayudhanpillai Harikumar as Independent Director expired on September 24, 2026.
He accordingly ceased to be an Independent Director with effect from the close of business hours on that date. The stated reason is completion of tenure.
Board composition after the cessation
- Joju Madathumpady Johny — Managing Director
- Johny Madathumpady Lonappan — Whole-time Director
- Sivadas Chettoor — Independent Director
- Julie George Varghese — Independent Director
- Rajalakshmy Methil — Additional Independent Director
That is 5 directors in total, of whom three hold independent roles.
How to read this
Under company law, an independent director can serve a maximum of two consecutive terms, after which the position ends automatically. Such exits are routine and are distinct from a resignation, where an investor would look for reasons given.
The update records no disagreement with the Board and no relationship between the outgoing director and other directors. The information is also stated to be available on the company's website.
Also from JMJ Fintech
Board approves Rs.15 crore loan limit to related party, Rs.7 crore NCD issue, director re-designations
22 Oct 2026
Board approves Rs.15 crore related-party loan limit, Rs.7 crore NCD issue and director re-designations
22 Oct 2026
Board meeting on 22 October 2026 to consider NCD issue up to Rs 7 crore and director changes
15 Oct 2026
More numbers
- Number of directors on the Board after cessation5
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