Mega Fin India532105Routine director change
Re-designation of Executive Director as Non-Executive Non-Independent Director
Board of Mega Fin (India) Limited approved a change in designation of Ms. Shweta Atul Phanse.
By ScoutQuest · · 1 min read
- Designation Change
- Executive Director to Non-Executive Non-Independent Director
- Effective Date
- October 17, 2026
- DIN
- 07146218
What was decided
- The Board of Mega Fin (India) Limited met on October 17, 2026, and approved a change in designation of Ms. Shweta Atul Phanse (DIN: 07146218).
- 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.
- It is subject to the approval of the Members of the Company, wherever required.
Why the change
- She expressed her inability to continue serving as Executive Director due to her current commitments and requested the Board to change her 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.
- She confirmed there are no other material reasons for the change beyond those stated.
What stays the same
- She remains on the Board, but in a non-executive role.
- She continues to be liable to retire by rotation, in terms of Section 152(6) of the Companies Act, 2013.
- The Board confirmed she is not debarred from holding the office of Director by virtue of any order passed by SEBI or any other such authority.
What an executive versus non-executive role means
- An Executive Director is part of the Company's day-to-day management and typically draws remuneration for that role.
- A Non-Executive Director is not part of day-to-day management; the role is oversight and guidance.
- "Non-Independent" means she is not treated as independent of the Company's management.
What to take away
- This is a change in role within the Board, not an exit from the Board.
- The Board meeting on the day commenced at 04:00 P.M. (IST) and concluded at 04:30 P.M. (IST).
Also from Mega Fin India
Director redesignated from Executive Director to 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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