Change in Director / Key Managerial Personnel

Nature of change: Resignation and appointment

Cessation of Mr. Ajay Muchhal:

  • Resigned from position of Head - Credit of the Company
  • Effective from closure of business hours of August 31, 2026
  • Reason: Personal reasons
  • Submitted resignation letter dated August 21, 2026
  • No brief profile or relationships disclosed as not applicable

Appointment of Ms. Vidya Awasthi:

  • Appointed as Head - Credit of the Company
  • Effective from September 02, 2026
  • Appointment based on recommendations of Nomination and Remuneration Committee
  • Brief profile: Credit professional with over 19 years experience in banking and financial services
  • Expertise spans MSME, retail and commercial lending
  • Previously held senior positions at Sundaram Finance Limited, ICICI Bank Limited, HDFC Bank Limited, and CredRight Finance Private Limited (most recently as Head – Credit & management until October 2024)
  • Specializes in credit risk, underwriting, portfolio management, credit strategy, policy formulation and risk assessment
  • Experience includes digital transformation of credit processes, Straight-Through Processing (STP), Business Rule Engines (BRE), and AI/ML-based underwriting solutions
  • Developed data-driven underwriting and early warning mechanisms
  • Implemented risk mitigation strategies balancing credit risk, operational efficiency and business growth
  • No relationships between directors disclosed as not applicable

Confirmation of eligibility: Disclosure made pursuant to Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026

Key Financial or Operational Approvals

Board Meeting Details:

  • Meeting held on August 31, 2026
  • Meeting started at 12:00 p.m. and concluded at 03:30 p.m.
  • Board noted resignation of Mr. Ajay Muchhal and approved appointment of Ms. Vidya Awasthi

Strategic or Business Context

No specific business outlook, risks, trends, or strategic context disclosed regarding this management change.

Any Other Material Information

Regulatory Compliance:

  • Filing reference: MCSL/SEC/26-27/190 dated August 31, 2026
  • Scrip Code (Equity) - 511766
  • Trading Symbol - MUTHOOTCAP
  • Company CIN: L67120KL1994PLC007726
  • Signed by Deepa Gopalakrishnan, Company Secretary & Compliance Officer (Membership No.: A68790)