IIFL Finance’s Independent Directors Arun Purwar & Nilesh Vikamsey Retired

Arun Kumar Purwar and Nilesh Shivji Vikamsey completed their second term as Independent Directors of IIFL Finance Limited on March 31, 2024. Consequently, both ceased to be Independent Directors with effect from March 31, 2024.

Further, as already informed by the company to the exchanges on March 26, 2024, Purwar has been appointed as an Additional Non-Executive Non-Independent Director with effect from April 1, 2024.

Arun Kumar Purwar serves as the Chairman and Additional Non-Independent Non-Executive Director at IIFL Finance, Jindal Panther Cement, and ERoute Technologies. Additionally, he serves as an Independent Director for various companies spanning finance, pharmaceuticals, media, engineering consultancy, investment banking, and fintech sectors. He provides advisory services to Mizuho Securities, Japan. Previously, he served as Chairman of the State Bank of India (SBI) from 2002 to 2006 and Chairman of the Indian Bank Association from 2005 to 2006. Earlier, he held roles such as MD of the State Bank of Patiala and played a key role in the establishment of SBI Life. He has been recognised with several awards, including the CEO of the Year award from the Institute of Technology and Management (2004), the Outstanding Achiever of the Year award from the Indian Banks’ Association (2004), and the Finance Man of the Year Award from the Bombay Management Association in 2006.

Nilesh Vikamsey holds a senior partner position at KKC & Associates LLP. He actively contributes as a committee member to organisations such as the Indo-American Chamber of Commerce, the Bombay Chartered Accountants’ Society (BCAS), and the Chamber of Tax Consultants (CTC). He serves as a trustee for several educational trusts in Mumbai, including the ‘Sayagyi U Ba Khin’ Memorial Trust (Vipassana International Academy, Igatpuri). Currently, he lends his expertise to various advisory committees, including the Advisory Committee on Mutual Funds and Corporate Governance Committee of the Securities and Exchange Board of India (SEBI), the Risk Management Committee of Central Depository Services (India) Limited (CDSL), and the Expert Advisory Committee of the Institute of Chartered Accountants of India (ICAI). He has been the president of ICAI. Furthermore, he has served as the Chairman of the Federal Bank and as a member of the IRDA. He is a speaker at Regional Councils, Branches & Study Circles of ICAI, the Bankers Training College of the RBI, the Comptroller and Auditor General of India (C&AG), and others.


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