LIC Housing Finance Limited (LIC HFL) has notified the stock exchanges, National Stock Exchange of India Limited (NSE) and BSE Limited (BSE), about changes in its Senior Management Personnel (SMP), as per Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"). The notification pertains to the superannuation of Dr. S. C. Sahoo, General Manager (Recovery), effective March 28, 2025, and the appointment of Mr. S. Muralidharan, Joint General Manager, to take over temporary charge of the Recovery Department.

Details of the Change in Senior Management

As part of the regulatory disclosure, LIC Housing Finance Limited confirmed the following changes:

• Dr. S. C. Sahoo, General Manager (Recovery): Dr. Sahoo has superannuated from the Company after an illustrious tenure overseeing the Recovery Department. His contributions to LIC Housing Finance have been recognized for driving operational excellence and ensuring compliance with regulatory norms.

• Mr. S. Muralidharan, Joint General Manager: Following Dr. Sahoo’s superannuation, Mr. S. Muralidharan has been assigned temporary charge of the Recovery Department. Mr. Muralidharan brings with him extensive experience in operations and recovery management, ensuring a seamless transition of responsibilities.

Compliance with SEBI Listing Regulations

This change in Senior Management Personnel (SMP) has been disclosed in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Schedule III of the Listing Regulations, ensuring transparency and adherence to corporate governance standards.

Impact on Company Operations

The change in management, while significant, is not expected to impact the financial or operational performance of LIC Housing Finance Limited. With Mr. S. Muralidharan temporarily overseeing the Recovery Department, the Company aims to maintain continuity in operational effectiveness and customer service excellence.

Brief Profile of Mr. S. Muralidharan

Mr. S. Muralidharan has been associated with LIC Housing Finance for several years and holds a proven track record in handling critical functions within the organization. As Joint General Manager, he has demonstrated expertise in recovery operations, customer relations, and compliance management. His vast industry experience makes him well-equipped to handle the Recovery Department’s challenges during this transition phase.

Superannuation of Dr. S. C. Sahoo

Dr. S. C. Sahoo served as General Manager (Recovery) and was instrumental in establishing strong recovery mechanisms and ensuring compliance with regulatory frameworks. His superannuation from the Company marks the conclusion of a dedicated career, during which he played a significant role in streamlining recovery processes and maintaining corporate governance standards.

Next Steps and Company’s Approach

LIC Housing Finance Limited has reiterated its commitment to ensuring smooth operational transitions and maintaining high standards of service quality and regulatory compliance. The temporary charge of the Recovery Department has been assigned to Mr. Muralidharan to ensure that the transition does not affect operational efficiencies.

Disclosure under SEBI Listing Obligations

LIC Housing Finance Limited has made this disclosure under:

• Regulation 30 of SEBI (LODR) Regulations, 2015.

• Clause 7 of Para A, Part A of Schedule III of the Listing Regulations.

Summary of Disclosure:

• Superannuation of Dr. S. C. Sahoo: Effective March 28, 2025.

• Temporary Charge Assigned To: Mr. S. Muralidharan, Joint General Manager.

• Disclosure Compliance: Regulation 30 of SEBI Listing Regulations.

Operational Continuity and Compliance

The Company has assured stakeholders that the continuity of business operations will not be impacted by this change in senior management. By assigning temporary charge to an experienced professional like Mr. Muralidharan, LIC Housing Finance Limited aims to uphold its operational efficiency and maintain compliance with regulatory requirements.

Conclusion

LIC Housing Finance Limited has successfully managed the transition in its Senior Management Personnel by assigning temporary charge of the Recovery Department to Mr. S. Muralidharan following the superannuation of Dr. S. C. Sahoo. The disclosure was made in line with SEBI regulations, reflecting the Company’s commitment to corporate governance and regulatory compliance.

The Current active IPO are Aten Papers & Foam Limited, Infonative Solutions Limited,Spinaroo Commercial Limited,Retaggio Industries Limited,Identixweb Limited.

The Closed IPOs are  ATC Energies System Limited, Shri Ahimsa Naturals Limited, Desco Infratech Limited

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.