Mr. V.P. Nandakumar
Chairman and Managing Director.
Mr. V.P. Nandakumar is a postgraduate in science with additional qualifications in Banking & Foreign Trade. Immediately after completion of his education, he joined the erstwhile Nedungadi Bank Limited. In 1986, he resigned from the Bank to take over the family business, upon the demise of his father, V.C. Padmanabhan. In 1992, he promoted Manappuram Finance Ltd. and has been a director of the company since then. In the past, Mr. Nandakumar has been associated with leading trade and industry associations such as ASSOCHAM and CII in various capacities. He is currently the Chairperson of the State Council of FICCI Kerala.
Directorship
- Manappuram Health Care Limited
- Manappuram Construction and Consultants Limited
- Manappuram Home Finance Limited
- Asirvad Micro Finance Limited
- Manappuram Chits (Karnataka) Private Limited
- Manappuram Chit Funds Company Private Limited
- Manappuram Insurance Brokers Limited
- Manappuram Comptech and Consultants Limited
- Adlux Medicity And Convention Centre Private Limited
- Manappuram Chits (India) Limited
- Manappuram Agro Farms Limited
- Manappuram Jewellers Limited
- Finance Industry Development Council
- SNST Advisories Private Limited
- DTA Advisory Private Limited
- DTB Advisory Private Limited
- DT3 Advisory Private Limited
Mr Deepak Reddy
Chief Executive Officer.
Manappuram Finance Ltd.
Mr Deepak Reddy, an accomplished leader with over three decades of experience in the financial services industry, assumed charge as Chief Executive Officer of Manappuram Finance Ltd. on August 1, 2025. Known for his strategic vision and people-first leadership, Mr Reddy brings a proven track record of building high-performing teams and scaling diversified businesses across India’s dynamic financial landscape.
Prior to joining Manappuram, Mr Reddy was associated with Bajaj Finserv Ltd. for over 17 years. During this tenure, he played a key role in the company’s transformation. He spearheaded the launch and expansion of several businesses, including Business Loans, Personal Loans, Doctor Loans, Vendor Financing, and Solar Financing. In his most recent capacity, he led the Rural, Insurance, and Gold Loan businesses.
A distinctive feature of Mr Reddy’s leadership journey is his dual expertise in business and human resources. He served as Head of Human Resources at Bajaj Finance Ltd., where he was instrumental in shaping the organisation’s talent strategy, leadership development, and performance culture. He was also appointed as the first Group Head of HR at Bajaj Finserv Ltd., where he established group-wide HR frameworks that continue to drive employee engagement and organisational alignment.
Mr Reddy had also worked for nine years at American Express, where he led the Personal and Small Business Loans vertical and served as Director – Platinum Credit Cards, managing premium customer portfolios. He began his career at MIRC Electronics Ltd. (ONIDA) and Standard Chartered Bank, gaining early exposure in distribution and partner management across both consumer and financial products.
At Manappuram Finance Ltd., Mr Reddy is entrusted with steering the company through its next phase of growth, innovation, and operational excellence. His leadership will focus on strengthening core businesses such as gold loans, vehicle finance, microfinance, MSME lending, housing finance, and digital lending, while fostering a culture of governance, agility, and customer-centricity across the organisation and its subsidiaries. Mr Reddy holds a Bachelor of Commerce degree and a Post Graduate Diploma in Management from T.A. Pai Management Institute (TAPMI), Manipal. He brings extensive industry expertise and proven leadership capabilities to his role as Chief Executive Officer of Manappuram Finance Ltd. Under his guidance, the company is positioned to enter a transformative phase focused on inclusive growth and long-term value creation for all stakeholders.
Dr.Sumitha Nandan
Executive Director and Vice-Chairperson
Dr. Sumitha Nandan, a medical professional who has M. S. in Obstetrics & Gynaecology from Sri Ramachandra Institute of Higher Education and Research, Chennai has entered the family business from the 03rd generation, after successfully practising in leading hospitals in Kerala & Chennai.
After joining the family business, she has taken up multiple IT initiatives to enhance customer experience. One of the initiatives is online gold loan, where she has championed the execution and last mile delivery and awareness of OGL. The other initiative is digitalizing auction procedures so that the transparency is enhanced and participation of the customers can be fulfilled.
She is an Alumnus of Wharton Business School following completion of Advanced Finance Programme. She had held the whole time Director positions in Manappuram Health Care Limited and Macare Dental Care Private Limited. She had also held Directorships in Manappuram Home Finance Limited, Manappuram Agro Farms Limited, Systemic Ayurvedic Research Private Limited and Asirvad Micro Finance Limited.
Board of Directors
Mr. Ashish Arvind Kotecha
Non-Executive Non-Independent Director
Mr. Ashish Kotecha is a Partner at Bain Capital Private Equity, having joined the Firm in 2010. He leads their consumer and retail investments in India and Southeast Asia, and is a member of their Asia investment committee. Ashish also leads Bain Capital’s Portfolio Group in Asia – a group, responsible for Bain’s value creation efforts within portfolio companies. As part of this, he actively works with many consumer companies across the region including India, Australia, China and Korea on strategy, operations and performance transformation topics.
Over the last 16 years, he has been personally actively involved in many of Bain Capital’s investments across Asia including RSB Transmissions, Manappuram, Dhoot Transmission, Novopor, Emcure Pharmaceuticals, Axis Bank, L&T Finance Holdings Limited and Hero Motocorp in India, Camp Australia, Only About Children in Australia, Hugel in Korea, Gymboree China, Rise Education and APMG in China. He was also a Board Member of Axis Bank – India’s 3rd largest private bank. Prior to joining Bain Capital, Mr. Kotecha was the acting Chief Operating Officer at Tourneau, in New York – then the world’s 2nd largest luxury watch retailer and a Leonard Green & Partners portfolio company. He replaced the CEO of the business and successfully led a turnaround of the business through the global financial crisis in 2009.
Earlier, he was an Associate Principal with McKinsey & Company, in San Francisco, where he led engagements in Retail, Consumer and Private Equity. He also co-founded their Retail Private Equity Service Line and spent time with McKinsey’s economic think tank (MGI), where he was part of a team that analyzed the impact of FDI in emerging economies, including India.
Directorship
- Kotecha Investment Corporation Private Limited
- Bombay Cotton And Yarn Company Private Limited
Mr. Rishi Mandawat
Non-Executive Non-Independent Director
Mr. Rishi Mandawat joined Bain Capital in 2008. He is a partner and leads investment and coverage in the financial services, industrial, energy, technology, media, telecom and pharma sectors. Prior to joining Bain Capital, Mr. Rishi Mandawat worked at McKinsey and Company in the Delhi office on a number of strategic and operational issues for clients in the financial services, electric power and energy, construction, and retail and automotive sectors.
Prior to joining McKinsey, he worked as a finance controller for two business units in ABB in India. Mr. Rishi Mandawat received his MBA from the Indian Institute of Management, Ahmedabad and his B.Com (Hons.) from Jodhpur University. He is also a Chartered Accountant from the Institute of Chartered Accountants of India.
Directorship and full-time positions in other Body Corporates
- Opsmaint (India) Bridge Dc Platform Private Limited
- 360 One Wam Limited
- Dhoot Transmission Limited
- RSB Transmissions (I) Ltd
- Novopor Advanced Science Private Limited
- Bridge Datacentres (Mumbai) Private Limited
- 360 One Prime Limited
Mr. Balaji Veeravalli Vijayaraghavan
Non-Executive Independent Director
Mr. Balaji Vijayaraghavan is a seasoned leader with over three decades of experience across banking, insurance, telecommunications and manufacturing, with a career spanning Finance and Accounting, Customer Service, Operations and Information Technology.
His experience combines financial management, business operations and the application of technology to deliver scalable solutions. Over the years, he has played a role in driving digital adoption, building long-term technology roadmaps, and preparing organizations for large-scale transformation. Mr. Balaji comes across as a sharp, business oriented technology leader with a strong learning mindset. He has been focused not only on how technology can be leveraged to deliver outcomes in an efficient manner but to strategically transform all aspects of a Bank right from product innovation, go to market, customer experience, risk management etc. He is not a core technologist but brings a high level of tech savviness through his depth and breadth of experience as the CTO of ICICI Bank.
Mr. Balaji has made a successful transition from Operations and Services to Technology, demonstrating a strong combination of domain expertise and technical acumen.
Mr. Harshan Kollara
Independent and Non-Executive Director
Harshan Kollara brings over 40 years of experience in Financial services in India and abroad in diverse institutions like Federal bank as Executive Director, Union bank of California as Regional Head, South Asia, ICICI bank as Head of International banking and Union Bank of India. He has also served as NED at Experian credit information co of India, Fedbank Financial Services ltd and was the project lead to set up United Stock Exchange (since merged with BSE)
Mr Kollara is an “approved person” authorised by FCA to hold senior positions in regulated firms. He has been an invitee to the FSB/G20 Cross-Border Payments Roadmap Committee, and other regulatory committees of UK regulator. He also heads the Trade association of UK payments and fintechs.
His domain expertise spans currency markets, treasury, trade finance, payments, consumer credit, and AML/CTF — combined with hands-on exposure to global governance standards.
Harshan is an alumnus of Mumbai University.
Directorship and full-time positions in other Body Corporates
• Abans global Ltd UK
• Real Transfer Ltd UK
• Fenca Ltd UK
• Value Finance Corporation Limited (Full time)
• Value Finance Ltd
• Morgan & Harvey Services Ltd
• Rebar Design and Details Ltd
• Association of UK Payment and Fintechs
• Saral Money Ltd
Mr. Rajesh Kumar Rathanchand
Non-Executive Independent Director
Mr. Rajesh Kumar Rathanchand is a seasoned financial services executive with over 32 years of experience driving transformative growth, innovation and operational excellence across India’s leading banking and credit bureau institutions. He is currently the CEO of Lentra AI Private Limited (with effect from March 30, 2026).
Most recently, Mr. Rajesh Kumar Rathanchand served as Managing Director & CEO of TransUnion CIBIL Ltd. He was responsible for strategizing and steering their business to support India’s financial ecosystem in navigating sustainable credit growth while managing risk. He led the organization through a period of growth, during which Transunion CIBIL advanced its digital capabilities, strengthened governance and built a scalable IT and risk architecture to meet future demands. Before joining Transunion CIBIL in 2020, Mr. Rajesh Kumar Rathanchand served as the Group Head for Retail Credit and Risk at HDFC Bank, where he was a key member of the leadership team. He was responsible for conceptualizing, managing and expanding the bank’s retail credit portfolio—including personal, commercial, vehicle, agriculture, and microfinance loans—alongside overseeing the payments business.
Directorship and full-time positions in other Body Corporates
- Lentra AI Private Limited
Mr. Rakesh Induprasad Bhatt
Non-Executive Independent Director
Mr. Rakesh Induprasad Bhatt is a senior leader with 32+ years of experience in financial services and technology industry in both established companies and startup businesses. For 15 years of his career, he was in the Leadership team at Bajaj Finserv and was a key member of the management-led transformation of Bajaj Finance from a captive auto finance company into one of India's loading and diversified non-bank offering range of products to a large customer franchisee across a vast geography and distribution landscape.
In this journey, Mr. Rakesh Induprasad Bhatt led several strategic initiatives with a specific purpose of enabling new businesses, revenue streams, reducing costs or changing the operating model. In his last role as the Executive Director and Deputy CEO of Bajaj Finance, he managed a diverse team of 10,000+ across technology, operations, analytics, marketing, digital sales, legal & compliance with added responsibility to deliver strategic initiatives, compliance frameworks, technology investments & international expansion in South-East Asia.
Directorship and full-time positions in other Body Corporates
- Bajaj Financial Securities Limited
- Bajaj Finserv Health Limited
- Snapwork Technologies Private Limited
- Hina Bhatt Art Foundation
- Avanse Financial Services Limited
- Rahi Platform Technologies Private Limited
Ms. Rosemary Sebastian
Non-Executive Independent Director
Ms. Rosemary Sebastian is a former career central banker with 40+ years -of professional track record. In her last role, she was the Executive Director-of the Reserve Bank of India in charge of its financial supervision function (NBFCs and Cooperative Banks). During her career, she has handled various responsibilities in central banking, regulation and supervision of banking and non banking entities, financial inclusion, consumer protection, public debt management, internal debt management, foreign exchange regulation, rural credit and internal audit among others.
Prior to becoming Executive Director, she held the position of Chief General Manager at RBI’s Central Office in Mumbai. She also served as the Banking Ombudsman for Maharashtra and Goa from 2012 to 2016. Rosemary was also a member of several committees appointed by the Government of India and the Reserve Bank of India. She has also been a Member of the Board of Supervision of NABARD and served as the Reserve Bank’s Nominee Director on the Board of Bank of India.
Directorship and full-time positions in other Body Corporates
- NIIF Infrastructure Finance Limited
- Godrej Housing Finance Limited
Code of Conduct For Board And Senior Management
Manappuram Finance Ltd is committed to upholding the highest standards of moral and ethical values in the conduct of its business. The board of directors, senior management and all employees of this company share this commitment. The company has adopted the following code of conduct as its policy guide in the conduct of its business. Commitment to ethical professional conduct is expected of every member and all employees should understand and implement the code adopted by the company in its true spirit.
For the purposes of this code the Board means all directors of the company including the chairman and managing director. Senior management shall mean Deputy General Managers, all functional heads reporting to the Chief Executive Officer and the Company Secretary.
Honesty, integrity and diligence are the fundamental aspects qualifying every act on the part of the board and senior management. They should act in good faith for and on behalf of the company and adopt the highest standards of personal ethics, integrity, confidentiality and discipline in dealing with all matters relating to the Company
Any confidential information obtained during the course of their duty should not be used for personal aggrandizement or financial gain to self or to a third party.
They shall not engage in any business, which is detrimental to the interests of the company. They shall maintain the confidentiality of all material and non-public information about the company or its business and must always act in the best interests of the Company and its stakeholders.
They Shall not accept any gifts, benefits in cash or in kind or other personal favours from the customers or from those seeking any business from the company and shall conduct the activities outside the Company in such manner as not to adversely affect the image or reputation of the Company.
The directors shall not associate with other Non Banking Financial Companies registered with RBI outside the group either as a Director or in any managerial or advisory capacity, (not including statutory compliance and audit) without the prior approval of the Board.
They must obey existing local, state, national, and international laws unless there is a compelling ethical basis not to do so.
They shall strive to achieve the highest quality, effectiveness and dignity in their work and must accept social responsibilities for their acts.
They shall always abide by the Code of Conduct, and shall be accountable to the Board for their actions/violations/defaults
Independent directors shall have following duties:
The independent directors shall -
Undertake appropriate induction and regularly update and refresh their skills, knowledge and familiarity with the company;
Seek appropriate clarification or amplification of information and, where necessary, take and follow appropriate professional advice and opinion of outside experts at the expense of the company;
Strive to attend all meetings of the Board of Directors and of the Board committees of which he is a member;
Participate constructively and actively in the committees of the Board in which they are chairpersons or members;
Strive to attend the general meetings of the company;
Where they have concerns about the running of the company or a proposed action, ensure that these are addressed by the Board and, to the extent that they are not resolved, insist that their concerns are recorded in the minutes of the Board meeting;
Keep themselves well informed about the company and the external environment in which it operates;
Not to unfairly obstruct the functioning of an otherwise proper Board or committee of the Board;
Pay sufficient attention and ensure that adequate deliberations are held before approving related party transactions and assure themselves that the same are in the interest of the company;
Ascertain and ensure that the company has an adequate and functional vigil mechanism and to ensure that the interests of a person who uses such mechanism are not prejudicially affected on account of such use;
Report concerns about unethical behaviour, actual or suspected fraud or violation of the company’s code of conduct or ethics policy;
Acting within his authority, assist in protecting the legitimate interests of the company, shareholders and its employees;
Not disclose confidential information, including commercial secrets, technologies, advertising and sales promotion plans, unpublished price sensitive information, unless such disclosure is expressly approved by the Board or required by law.
In addition to the above duties an independent director shall be subject to following professional conduct:
An independent director shall:
Uphold ethical standards of integrity and probity;
Act objectively and constructively while exercising his duties;
Exercise his responsibilities in a bona fide manner in the interest of the company;
Devote sufficient time and attention to his professional obligations for informed and balanced decision making;
Not allow any extraneous considerations that will vitiate his exercise of objective independent judgment in the paramount interest of the company as a whole, while concurring in or dissenting from the collective judgment of the Board in its decision making;
Refrain from any action that would lead to loss of his independence;
Where circumstances arise which make an independent director lose his independence, the independent director must immediately inform the Board accordingly;
Assist the company in implementing the best corporate governance practices.
An independent director shall be held liable, only in respect of such acts of omission or commission by a company which had occurred with his knowledge, attributable through Board processes, and with his consent or connivance or where he had not acted diligently with respect of the provisions contained in the Listing Agreement.
Change in Directorship
Mr. Shailesh Mehta Stepped Down as director of the board of the company with effect from 22.08.2018.
Mr. V.M Manoharan, stepped down as a director of the board of the company w.e.f 25.07.2014.
There has been change in the designation of Mr. I Unnikrishnan from ED and deputy CEO to Non- Executive Director w.e.f. 30.11.2014.
Mr. I.Unnikrishnan stepped down as a director of the board of the company w.e.f 05.11.2015.
Mr. Amla Samanta has been appointed as an Independent Director of the Board with effect from 06.08.2015.
Mr. Pradeep Saxena Stepped Down as director of the board of the company with effect from 09.08.2016.
Mr. Gautam Ravi Narayan has been appointed as an "Non Executive Director" of the Board with effect from 21.08.2018.
Ms.Sutapa Banerjee has been appointed as Additional Director of the Board with effect from 06.02.2019.
Dr. Amla Samanta Stepped Down as director of the board of the company with effect from 01.04.2019.
Ms. Sutapa Banerjee has been appointed as Independent Director of the Board with effect from 01.04.2019.
Mr. Abhijit Sen has been appointed as an Additional Director of the Board with effect from 17.07.2019.
Mr. Abhijit Sen has been appointed as Independent Director of the Board with effect from 27.08.2019.
Mr. E A Kshirsagar Stepped Down as director of the board of the company with effect from 06.11.2019.
Mr. Rajiven V R had expired on 19.10.2019.
Mr. Harshan Kollara has been appointed as an Additional Director of the Board with effect from 28.01.2020.
Mr. Shailesh Mehta has been appointed as an Additional Director of the Board with effect from 27.02.2020.
Mr.B.N. Raveendra Babu Re-designated as Non Executive Director of the board of the company with effect from 31.05.2020.
Mr. Harshan Kollara has been appointed as Independent and Non-Executive Director of the Board with effect from 28.08.2020.
Mr. Shailesh. J. Mehta has been appointed as Independent and Non-Executive Director of the Board with effect from 28.08.2020.
Mr.Jagdish Capoor Stepped down as director of the board of the company with effect from 18-10-2021.
Mr.Shailesh J. Mehta has been appointed as Chairman of the board with effect from 13-11-2021.
Mr.B N Raveendra Babu, stepped down as Non-executive Non-Independent Director of the Board with effect from 18.05.2022.
Ms.Sutapa banerjee, stepped down as Non-executive Independent Director of the Board with effect from 04.07.2022.
Ms.Pratima Ram (DIN-03518633) has been appointed as Non-executive director of the Board w.e.f 23.09.2022.
Adv. Veliath Pappu Seemanthini (DIN: 07850522) has been appointed as Non-Executive Director (Independent) of the Board w.e.f 23.12.2022.
Dr.Sumitha Nandan (DIN:03625120 ) has been appointed as Additional Director (Executive ) of the Board w.e.f 01.01.2023.
Vide Postal ballot results dated 03rd Feb 2023,Shareholders approved the appointment of Adv. Veliath Pappu Seemanthini (DIN: 07850522) as Independent Non-Executive Director of the Board w.e.f 23.12.2022.
Vide Postal ballot results dated 03rd Feb 2023,Shareholders approved the appointment of Dr.Sumitha Nandan (DIN:03625120 ) as Executive Director of the Board w.e.f 01.01.2023.
Mr.Gautam Ravi Narayan, Stepped down as director of the board of the company with effect from 04.04.2023.
Mr. T C. Suseel Kumar (DIN: 06453310) has been appointed as Additional Director (Non-Executive Independent) of the Board with effect from 01.11.2023.
Dr. Sankaran Nair Rajagopal(DIN:10087762) has been appointed as Additional Director (Non-Executive Independent) of the Board with effect from 01.01.2024.
Vide Postal Ballot result dated December 28,2023, Shareholders approved the appointment of Mr. T C Suseel Kumar (DIN: 06453310) as Independent Non-Executive Director of the Board w.e.f Novenber 1,2023.
Vide Postal Ballot result dated December 28,2023, Shareholders approved the appointment of Ms. Pratima Ram (DIN: 03518633) as Independent Non-Executive Director of the Board w.e.f April 1,2024.
Vide Postal Ballot result dated December 28,2023, Shareholders approved the appointment of Dr. Sankaran Nair Rajagopal(DIN:10087762) as Independent Non-Executive Director of the Board w.e.f Janauary 1,2024.
Mr. Edodiyil Kunhiraman Bharat Bhushan (DIN: 01124966), has been appointed as Additional Director (Non-Executive Independent) of the Board with effect from 01.03.2024.
Vide Postal Ballot result dated April 03,2024, Shareholders approved the appointment of Mr. E.K. Bharat Bhushan (DIN: 01124966) as Independent Non-Executive Director of the Board w.e.f March 1,2024.
Mr. S.R Balasubramanian(DIN: 03200547), stepped down as Non-Executive Director of the Board with effect from 09.05.2024.
Mr. P. Manomohanan(DIN: 00042836 ) and Mr. V.R. Ramachandran(DIN: 00046848) ceased to be the directors of the company w.e.f 31.07.2024.
Mr. Shailesh Jayantilal Mehta (DIN: 01633893) ceased to be the Chairman of the Company w.e.f 27.08.2025.
Mr. Abhijit Sen (DIN: 00002593), Ms. Pratima Ram (DIN: 03518633), Ms. V P Seemandini (DIN: 07850522), Mr. T C Suseel Kumar (DIN: 06453310), Mr. Edodiyil Kunhiraman Bharat Bhushan (DIN: 01124966) and Mr. Sankaran Nair Rajagopal (DIN: 10087762) resigned as Non-Executive Independent Directors of the Company with effect from May 05, 2026.
Appointment of Mr. Rishi Mandawat (DIN: 07639602) and Mr. Ashish Arvind Kotecha (DIN: 02384614) as Additional Non-Executive Non-Independent Directors on the Board with effect from May 05, 2026.
Appointment of Mr. Balaji Vijayaraghavan (DIN: 05122430), Mr. Rajesh Kumar Rathanchand (DIN: 08708450), Mr. Rakesh Induprasad Bhatt (DIN: 02531541) and Ms. Rosemary Sebastian (DIN: 07938489) as an Additional Non-Executive Independent Directors on the Board with effect from May 05, 2026.
Change in the designation of Dr. Sumitha Nandan (DIN: 03625120) from Executive Director to Executive Director and Vice-Chairperson of the Board with effect from May 05, 2026.