Max Financial Services has announced that K. Narasimha Murthy will retire as an Independent Director upon the completion of his term on 29 March 2026. This development follows the decision at the 37th Annual General Meeting held on 18 September 2025, where the proposal for his re-appointment was not approved by the shareholders.
Murthy, who was initially appointed for a five-year term starting 30 March 2021, was considered for a second term extending from 30 March 2026 to 29 March 2031. However, the special resolution required for his re-appointment did not achieve the necessary 75% majority, garnering only 66.77% of the votes in favour.
The Board and Management of Max Financial Services have expressed their gratitude for Murthy’s contributions during his tenure. His retirement marks the end of his role as an Independent Director with the company.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).