RGF Capital Markets appointments approved on October 5, 2026 include Mit Gandhi as Chief Financial Officer and Nishad Jitendra Shah as Additional Director and Managing Director, according to the company's BSE filing. The board also appointed Amar Chokshi as an additional independent director and approved changes to its management and board committees.

The company said the appointments of Nishad Shah and Rajshree Nishad Shah followed RBI approval dated September 24, 2026 relating to a proposed change in shareholding and management. The board met at its registered office in Kolkata from 10 am to 10.45 am.

Nishad Shah's appointment under the chairman and promoter category takes effect from October 5, 2026 until September 1, 2031, subject to shareholder approval. He has over 23 years of experience in banking, financial services and corporate management, including roles at Citigroup, Barclays Bank PLC, State Bank of India (UK) and Axis Bank.

CFO and board appointments

Mit Gandhi takes charge as CFO from October 5, 2026, following recommendations from the Nomination and Remuneration Committee and Audit Committee. A chartered accountant with over 15 years of experience, he previously served as Assistant Vice President at HDFC Bank, formerly HDFC Limited. His experience covers accounting, credit underwriting, risk management, compliance and banking technology.

  • Amar Chokshi joins as an Additional Non-Executive Independent Director for five years from October 5, subject to shareholder approval. He is a chartered accountant with over 15 years of experience.
  • Rajshree Nishad Shah joins as an Additional Non-Executive, Non-Independent Director under the promoter category. She is Nishad Shah's spouse and has over 10 years of professional experience.
  • Shivam Jayeshkumar Prajapati becomes Company Secretary and Compliance Officer from October 5. He is a qualified company secretary and commerce graduate.

Resignations and committee changes

Sagar Mal Nahata resigned as Managing Director, Director and CFO, while Sujit Kumar Panda resigned as Director, citing the management change. Independent Director Basanti Roy resigned for personal reasons. All resignations take effect at the close of business on October 5, 2026.

The board also reconstituted its Audit Committee and Nomination and Remuneration Committee. Amar Chokshi chairs both committees, with Ajay Pratap Singh and Rajshree Nishad Shah serving as members.