Magma Fincorp Limited announced at the Board of Directors meeting held on 2 July 2021 that the company approved Mr. Kailash Baheti, Group Chief Financial Officer of the Company has opted for early retirement and has offered to step down from the post of Group Chief Financial Officer and Key Managerial Personnel of the Company with effect from close of the business hours of 1 July 2021. The Board approved appointment of Mr. Sanjay Miranka as Group Chief Financial Officer and Key Managerial Personnel of the Company as per the provision of the Companies Act 2013 with effect from 2 July 2021. Mr. Kailash Baheti, Group Chief Financial Officer and Key Managerial Personnel, has opted for early retirement due to personal reasons. Mr. Baheti has offered to step down as Group Chief Financial Officer and Key Managerial Personnel with effect from close of the business hours of 1 July 2021. Mr. Sanjay Miranka is a qualified CA and CS and comes with over 26 years of rich experience across a diverse set of industries like Financial Services, Edible Commodities and Telecom.