Bank of Maharashtra Announces New Appointments and Organizational Changes in Board Meeting
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In a recent board meeting, the Bank of Maharashtra made several significant decisions, including senior-level appointments, changes in responsibilities, and preparations for the upcoming Annual General Meeting. These steps are part of the bank’s efforts to enhance leadership, ensure compliance, and support future growth.
Appointment of Vishal Sethia as Company Secretary and KMP
The Board approved the appointment of Mr. Vishal Sethia as the Company Secretary and Secretary to the Board, effective from May 12, 2025. He has also been designated as a Key Managerial Personnel (KMP) under the Companies Act, 2013, and SEBI’s Listing Regulations. Mr. Sethia has over 12 years of experience in the banking sector and previously worked with Indian Bank. He holds multiple professional qualifications, including Chartered Accountant (CA), Company Secretary (CS), Bachelor of Commerce (B.Com), and Certified Associate of the Indian Institute of Bankers (CAIIB). He will now be responsible for overseeing regulatory compliance and supporting the board’s governance duties.
Re-designation of Nehal Rawat as Deputy Company Secretary
Ms. Nehal Rawat, who served as the Company Secretary and Compliance Officer, has been re-designated as Deputy Company Secretary. She has been authorized to carry out the responsibilities of Mr. Sethia in his absence, ensuring continuity in compliance and communication functions.
Authorization for Regulatory Disclosures
The Board has authorized three senior officials—the Company Secretary and Compliance Officer, the Chief Financial Officer (CFO), and the Chief Compliance Officer—to assess material events and make timely disclosures to stock exchanges as per Regulation 30(5) of SEBI Listing Regulations. This move aims to strengthen the bank’s transparency and compliance framework.
Kaushal Sampat Appointed as General Manager of International Banking Unit at GIFT City
The Board also appointed Mr. Kaushal Vijaykumar Sampat as the General Manager of the International Banking Unit (IBU) located at GIFT IFSC, Gujarat. Mr. Sampat joined the bank on May 5, 2025, and his appointment is effective from May 12, 2025. He brings over 23 years of experience in the banking industry and has previously worked with prestigious institutions such as HDFC Bank, ICICI Bank, ING Vysya Bank, Standard Chartered Bank, and IndusInd Bank. He has expertise in credit analysis, corporate and commercial banking, transaction banking, and international banking. His recent role was as MD & CEO of India International Depository IFSC Ltd.
Election of Shareholder Director at AGM
The Board approved a proposal to fill one shareholder director position through an election at the upcoming Annual General Meeting (AGM). This provides an opportunity for shareholders to participate in the bank’s governance by electing a qualified individual to the Board.
Meeting Schedule and Disclosure
The board meeting began at 1:15 PM and concluded at 4:45 PM. The bank has shared this information on its official website in compliance with SEBI regulations. Click here to read more news.
