Mega Fin India532105Routine director change
Director redesignated from Executive Director to Non-Executive Non-Independent Director
Board approved change in designation of Ms. Shweta Atul Phanse (DIN: 07146218) from Executive Director to Non-Executive Non-Independent Director, liable to retire by rotation, w.e.f. October 17, 2026.
By ScoutQuest · · 2 min read
- Previous Designation
- Executive Director
- New Designation
- Non-Executive Non-Independent Director
- Effective Date
- October 17, 2026
What was approved
- The Board of Directors of Mega Fin (India) Limited, at its meeting held on October 17, 2026, considered and approved a change in the designation of Ms. Shweta Atul Phanse.
- She moves from Executive Director, liable to retire by rotation, to Non-Executive Non-Independent Director, liable to retire by rotation.
- The change is effective October 17, 2026 and is subject to the approval of the Members of the Company, wherever required.
Why the change
- Ms. Phanse expressed her inability to continue serving in her current capacity as Executive Director due to her current commitments, and requested that her designation be changed.
- She confirmed that there are no other material reasons for the change in designation.
- The Board noted that she has been providing professional services to the Company and would continue to contribute through strategic guidance and advisory support.
What the two roles mean
- An Executive Director is a director who is also part of the company's day-to-day management and carries executive responsibilities.
- A Non-Executive Non-Independent Director sits on the board in an oversight role, is not part of daily management, and is not classified as an independent director.
- This is a change of designation, not a resignation from the board: she continues as a director of the Company, liable to retire by rotation under Section 152(6) of the Companies Act, 2013.
Other points from the update
- The Company confirmed that she is not debarred from holding the office of director by virtue of any order passed by SEBI or any other such authority.
- The details were furnished along with the Annexure as required under Regulation 30 read with Schedule III of the Listing Regulations.
How to read it
- The Board has one director in a different capacity now: executive responsibilities make way for a non-executive, oversight role, while the person stays on the Board.
- The remaining step mentioned in the update is member approval, wherever required, for the change in designation.
- This is a board composition and management disclosure, useful for tracking who runs the Company day to day and who supervises the Board.
Also from Mega Fin India
Re-designation of Executive Director as Non-Executive Non-Independent Director
17 Oct 2026
EGM Voting Results: Statutory Auditor and Secretarial Auditor Appointments Approved
21 Sep 2026
Source: BSE · 17 Oct 2026
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