Ind Bank Housing director appointments were approved by the company’s board at its meeting on August 14, 2026, the housing finance company said in a BSE filing. The board approved a second consecutive five-year term for R Padma as an independent director and appointed R Murugesan as a non-executive nominee director.

Padma’s appointment is subject to shareholder approval at the ensuing annual general meeting. Her five-year term will begin from the company’s 35th AGM. Murugesan’s appointment under Section 161(3) of the Companies Act, 2013, took effect on August 14, 2026.

Board appointments and terms

  • R Padma was approved for a second consecutive term of five years as an independent director, subject to shareholders’ consent at the ensuing AGM.
  • R Murugesan was appointed as a non-executive nominee director with effect from August 14, 2026.

Padma Sridharan, whose DIN is 09112490, holds a postgraduate degree in commerce, an MBA in Banking and Finance, CAIIB and a diploma in Sanskrit. She has more than 38 years of banking experience and retired as a deputy general manager. She currently serves as an independent director at Ind Bank Merchant Services Limited.

The filing stated that Padma has no disclosed relationship with the company’s other directors.

Murugesan brings legal and HUDCO experience

Murugesan is currently working as Regional Chief, Chennai, and joined HUDCO as a law officer in 1999. He has been associated with its law department for 26 years, with work covering the design of security packages for sanctioned loans and completion of loan documentation.

He holds a postgraduate degree in law and a postgraduate diploma in labour administration. Before joining HUDCO, Murugesan practised as an advocate before the Madras High Court. Ind Bank Housing said no relationship between Murugesan and the company’s other directors was applicable for disclosure.

The company also confirmed that neither Padma nor Murugesan is debarred from holding the office of director by any order of the Securities and Exchange Board of India or another competent authority. The disclosure was submitted under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Ind Bank Housing shares are listed on the BSE under scrip code 523465.

Source: BSE corporate announcement.