IIFL Wealth Management Limited announced The Board at the meeting held on November 23, 2022 approved the resignation of Mr. Shantanu Rastogi, Mr. Sandeep Naik and Mr. Gopalakrishnan Soundarajan from the Board of the Company effective November 23, 2022. The Board approved the appointment of Mr. Pavninder Singh and Mr. Rishi Mandawat as Additional, Non-Executive, Non-Independent Directors on the Board of the Company effective, November 23, 2022. Mr. Singh joined Bain Capital Private Equity in 2001.

He is a Managing Director in the Financial & Business Services and Industrial & Energy Verticals and a member of the Asia Pacific Private Equity team. Prior to that he was based in the New York Office as part of the North American Private Equity industrials team. Prior to joining Bain Capital Private Equity, Mr. Singh was the co-CEO of Medrishi.com, a healthcare services site.

Prior to that, he was a consultant at Mercer Management Consulting where he consulted in the e-commerce, retail, and energy industries. Mr. Singh received an MBA from Harvard Business School where he was a Baker Scholar. He received a BA from Harvard College.

Mr. Mandawat joined Bain Capital Private Equity in 2008. He is a Managing Director in the Financial Services, Industrial Manufacturing & Logistics, Telecom & Media and a member of the Asian Pacific Private Equity team. Prior to joining Bain Capital Private Equity, Mr. Mandawat worked at McKinsey and Company in the Delhi office on a number of strategic and operational issues for clients in the electric power and energy, construction, and retail and automotive sectors.

Prior to joining McKinsey, he worked as a finance controller for two business units in ABB in India. Mr. Mandawat received his MBA from the Indian Institute of Management, Ahmedabad and his B.Com (Hons.) from Jodhpur University. Mr. Mandawat is also a Chartered Accountant from the Institute of Chartered Accountants of India.