IndoStar Capital Finance Limited announced the resignation of Mr. Deep Jaggi as the Chief Executive Officer of the Company and the appointment of Mr. Karthikeyan Srinivasan as the Chief Executive Officer of the Company, each with immediate effect. Mr. Srinivasan has been associated with the Company as the Chief Risk Officer with effect from 27 May 2022. As the Chief Risk Officer of the Company, he was responsible for reviewing policies, assessing the impairment of assets and driving changes to processes to reduce risks to the Company's assets going forward.

Further to approval of resignation of Mr. Deep Jaggi, upon recommendation of the Nomination & Remuneration Committee and in compliance with the provisions of the Companies Act, 2013, Listing Regulations and other applicable laws, the Board of Directors has approved appointment of Mr. Karthikeyan Srinivasan as the Chief Executive Officer of the Company with effect from 14 February 2023. Mr. Karthikeyan Srinivasan has over 25 years of experience in the areas of Retail Sales, Client Servicing, Credit /Portfolio Management and People Management in banking and financial services sector and have handled a wide range of financial products including Commercial Vehicle Loans, Construction Equipment Loan, Tractor Loans, Two-wheeler Loans etc. Has worked with various Banks like ICICI Bank Ltd, Kotak Mahindra Finance Limited, Cholamandalam Investment and Finance Company Ltd.