Ramco Industries Appoints Smt. Soundara Kumar as Independent Director

Team Finance Saathi

    17/Mar/2025

What's covered under the Article:

  • Ramco Industries shareholders approved the appointment of Smt. Soundara Kumar as a Non-Executive Independent Director.
  • The appointment was confirmed through a postal ballot on March 16, 2025, with results announced on March 17, 2025.
  • Smt. Soundara Kumar brings over 39 years of banking and financial expertise to the board.

Ramco Industries Limited has officially appointed Smt. Soundara Kumar as a Non-Executive Independent Director for a five-year term from March 23, 2025, to March 22, 2030. This appointment was approved by the company's shareholders through a Special Resolution passed via Postal Ballot on March 16, 2025, with the voting results being declared on March 17, 2025.

The appointment aligns with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring that corporate governance and board composition meet the highest standards of regulatory compliance.

Voting and Compliance Details

The company conducted a postal ballot for shareholder approval, allowing stakeholders to participate in key corporate decisions. The Scrutinizer’s Report, prepared by Shri K. Srinivasan, Chartered Accountant, was submitted on March 17, 2025, confirming the successful passage of the resolution. The results were duly published on the company’s website and CDSL’s portal as per regulatory norms.

About Smt. Soundara Kumar

Smt. Soundara Kumar, aged 70, holds a bachelor’s degree in Mathematics and is a Certified Associate of the Indian Institute of Banking and Finance (CAIIB). She has had an illustrious career spanning 39 years in the banking industry, primarily with State Bank of India (SBI), where she held several senior leadership positions.

Key highlights of her career include:

  • Managing Director of State Bank of Indore (2008-2010) – Played a pivotal role in the successful merger of State Bank of Indore with State Bank of India.
  • President & CEO of State Bank of India (California) – Led SBI’s operations in the US, overseeing regulatory and financial strategies.
  • Deputy Managing Director & Group Executive, Stressed Assets Management, SBIHeaded Wholesale Banking Credit Committee, evaluating high-value credit proposals and project finance for infrastructure development.
  • Board Member of Prominent Financial Institutions – Served on the boards of SBI Factors, ARCIL, SBICI (State Bank of India Commercial and International Bank Ltd.), and CERSAI (Central Registry of Securitization Asset Reconstruction and Securities Interest).

Apart from her extensive banking experience, she has also served as a Director on the Boards of Bank of Baroda, Tamil Nadu Newsprint and Papers Limited, and Carborundum Universal Limited.

Impact on Ramco Industries

The appointment of Smt. Soundara Kumar brings a wealth of experience in banking, finance, and credit risk management to Ramco Industries. Her expertise in stressed asset management, infrastructure financing, and corporate governance will provide strategic insights for Ramco’s future growth and financial planning.

As a Non-Executive Independent Director, she will play a crucial role in strengthening corporate governance, enhancing risk management policies, and guiding the company’s strategic financial decisions.

Regulatory Compliance and Transparency

Ramco Industries has confirmed that Smt. Soundara Kumar is not debarred from holding the position of director by SEBI or any other authority. The company has adhered to the guidelines outlined in the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR /P/0155 dated November 11, 2024, ensuring full compliance with SEBI’s corporate governance framework.

Conclusion

The appointment of Smt. Soundara Kumar marks a significant milestone for Ramco Industries in strengthening its leadership team. With her extensive banking and financial experience, she is expected to contribute valuable insights to the company’s strategic decision-making process.

This move reflects Ramco Industries' commitment to enhancing board diversity, corporate governance, and financial oversight, aligning with SEBI’s best practices and shareholder expectations. The market will keenly observe the impact of this appointment on Ramco Industries' corporate performance and future financial strategies.


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