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(08/07/2025 09:06)

Satin Creditcare Network strengthens board with appointment of Two Independent Directors

Satin Creditcare Network Limited (SCNL), a leading microfinance institution in India, has further reinforced its Board by appointing two distinguished professionals, Mr. Ashok Kumar Sharma and Mr. Anupam Kunal Gangaher, as Independent Directors. Their appointments are effective from June 27, 2025, for a period of three years, subject to shareholder approval at the upcoming Annual General Meeting.

These additions reflect SCNL’s ongoing efforts to enhance governance and strategic oversight, continuing the board-strengthening initiatives launched in 2024 with the induction of Mr. Joydeep Datta Gupta (June 2024) and Ms. Jyoti Davar Vij (September 2024). With the inclusion of Mr. Sharma and Mr. Gangaher, the company aims to build a diverse, experienced, and forward-thinking board to support its long-term growth strategy.

Profile of New Appointees:

Mr. Ashok Kumar Sharma

A former Executive Director at Life Insurance Corporation of India (LIC), Mr. Sharma brings over four decades of extensive experience across the financial services landscape, including insurance, banking, capital markets, venture capital, and regulatory frameworks. Post-retirement, he served as Advisor for the LIC IPO, one of India’s largest public offerings, and as Director & CEO of LICHFL Asset Management Company Ltd., where he successfully led the Real Estate Fund. Most recently, he worked as General Manager at IDBI Bank (October 2022 – March 2024), contributing to regulatory compliance, operational efficiency, and stakeholder engagement.

Mr. Anupam Kunal Gangaher

A Chartered Accountant with over 40 years of experience, Mr. Gangaher is the proprietor of A.K. Gangaher & Co. and a graduate of Delhi University. His expertise spans audit, taxation, and financial advisory services across various industries including manufacturing, trading, hospitality, software, exports, and financial services. He specializes in direct and indirect taxation, transfer pricing, and non-resident taxation, and has a strong track record representing clients before statutory bodies.

These appointments mark another significant step in SCNL’s commitment to building a robust governance structure. Along with the company’s recent board expansions and its 'AA' ESG rating from ESG Risk Assessments and Insights Ltd., this move underscores SCNL’s focus on high standards in environmental, social, and governance (ESG) practices while maintaining its leadership in the microfinance sector.