Ujjivan Financial Services Limited announced that board meeting held on January 19, 2017. It is intended that Mr. Samit Ghosh Managing Director and CEO the company and director on the board of Ujjivan SFB will be appointed as the Managing Director & CEO of the Ujjivan SFB for the which RBI approval is awaited. Pending the same and subject to receipt of he RBI approval the nomination committee and the boar of the company has accepted the resignation of Mr. Samit Ghosh from the post of Managing Director and CEO of the company with effect from January 31, 2017.

Based on the recommendations of the nomination committee, accepted the resignation of Mr. Sunil Patel and Mr. Nandlal Sarda from the position of Independent Directors of the company with effect from January 31, 2017. Pursuant to the instruction received from SIDBI and based on recommendation of the nomination committee, accepted the resignation of Mr. Anadi Charan Sahu from the position of Nominee director with effect from January 31, 2017. Based on the recommendations of the nomination committee, approved the appointment of Ms. Sudha Suresh as the Managing director of the company with effect from February 1, 2017 for a period of 3 years, subject to the approval of the shareholders.

Pursuant to the aforesaid appointment of Ms. Sudha Suresh, accepted the resignation of Ms. Sudha Suresh from the position of Chief financial officer of the company with effect from January 31, 2017. Pursuant to the resignation of Ms. Sudha Suresh from the position of Chief Financial Officer of the company and based on the recommendation of the Nomination committee approved the appointment of Mr. Hiren Shah the existing head of Investor relation as the Chief Financial Officer of the company with effect from February 1, 2017.