Dr. Amla Samanta Joins Manappuram Finance Board

Manappuram Finance Ltd., the leading gold loan NBFC, has announced the appointment of Dr. Amla Samanta as an independent Woman Director on the Board of the Company in compliance with Section 149 (1) of the Companies Act, 2013. The decision was made at a meeting of the Board of Directors of the Company held on March 17, 2015.

Dr. Samanta is currently the Managing Director of Synermed Biologicals Pvt. Ltd., Mumbai, and a lecturer at Saifee Hospital for MD students. She is also a Director of HDFC Securities Ltd. Earlier, she was on the board of HDFC Bank from 1996 to 2004.

Commenting on the appointment, Mr. V. P. Nandakumar, MD & CEO, said, “It is my privilege to welcome Dr. Amla Samanta to our Board of Directors. She joins us at a particularly exciting time as we expand into new areas like vehicle finance, home loans, microfinance. With her wide-ranging expertise across industry, Dr. Samanta will be a valuable addition to our leadership team.”

With the new appointment, the total strength of the Company’s Board has gone up to 11, of whom 6 are independent directors.

About Manappuram Finance Ltd.

Manappuram Finance Ltd. is one of India’s leading gold loans NBFCs engaged in providing finance against used household gold ornaments. Incorporated in 1992, the company has been promoted by Mr. V.P. Nandakumar (current MD & CEO) whose family has been involved in gold loans since 1949. It is headquartered at Valapad in the Thrissur District of Kerala.  The company went public in August 1995 and its shares are listed on the stock exchanges of Mumbai, Chennai, and Kochi.   

As of December 31, 2014, Manappuram Finance had 3,293 branches across 27 states and UTs with Assets under management (AUM) of Rs. 88.23 billion. The company’s net worth stood at Rs. 26.03 billion.