A. K. Capital Services Limited at their meeting held August 5, 2023, approved Appointment of Mr. Rajiv Bakshi as Additional Independent Director of the Company with effect from August 5, 2023. Appointment of Mr. Ashish Vyas as Additional Independent Director of the Company with effect from August 5, 2023. Mr. Rajiv Bakshi, aged 70 years is a professional banker with over 37 years rich experience of Banking operations with a thorough knowledge of process flow, International Banking, Treasury, Large Corporate Credit & Risk Management and Business Process Reengineering.

A new foray of the Bank into life Insurance business with the setting up of a Joint Venture Life Insurance Company in collaboration with Daiichi Mutual Life of Japan and Union Bank of India. He was an Executive Director of Bank of Baroda handling the important functions of Large credit, International Banking, Treasury, Information Technology, Audit & Business Process Re-engineering and represented the bank on its Kenya & Tanzania subsidiaries as Chairman of their respective Boards, as well as Director on the Zambian Joint Venture. Since October 2019 up to 25.01.2022 he served as member of the Expert Committee appointed by RBI to assist the Administrator of Punjab & Maharashtra Coop Bank Ltd. and serving as Consultant to a Small Finance Bank.

He is also serving on the Board of A. K. Capital Finance Limited wholly owned subsidiary of the Company, as Chairman and Independent Director for more than 9 years. Mr. Ashish Vyas is an Insolvency Professional, Registered Valuer and a qualified Chartered Accountant with more than Seventeen Years of experience in Assurance, Project Finance, Consultancy to Stressed Assets and Cash Flow management of Cash Deficit Entities. He has extensive working knowledge of the Corporate Insolvency Resolution Process (CIRP).

He has experience of managing end-to-end Liquidation process. He has worked with premier organizations like M/s. Euronet Services India Private Limited (Subsidiary of Euronet Worldwide Inc, a New York Stock Exchange Listed entity), M/s. Price Waterhouse (PwC), Chartered Accountants, Mumbai and M/s. Deloitte Haskins and Sells, Chartered Accountants, Mumbai. Presently, he is working with KAVA & Associates, Chartered Accountants, Mumbai as Partner since April 2017.

He has authored a book - Quick Insight on GST - Banking Sector for Committee of Members in Industry of ICAI and co-authored Handbook on Liquidation Process and Voluntary Liquidation Process under the Insolvency and Bankruptcy Code, 2016 for Committee of Insolvency & Bankruptcy Code of ICAI.