Capital India Finance Accepts Ravindran Menon's Resignation as RemitX CEO, Effective October 31

Capital India Finance said Ravindran Menon, Senior Management Personnel and Chief Executive Officer of its RemitX division, resigned effective at the close of business on October 31, 2026, citing personal reasons. ScanX reported the disclosure, which the company filed with the BSE and NSE.

Menon's Letter to Managing Director Keshav Porwal

Menon communicated his resignation in a formal letter dated October 31, 2026, addressed to Managing Director Keshav Porwal. In the letter, he described his tenure as rewarding and formative and expressed appreciation for the experience gained with the management and staff.

The filing lists Menon's designation as Senior Management Personnel (CEO - RemitX), the reason for change as resignation, the date of cessation as October 31, 2026, and the term of appointment as not applicable. It states that no other relationships or director appointments were involved in the change.

Capital India Finance submitted the intimation under Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including the details the SEBI master circular requires for changes in senior management personnel. A copy of the resignation letter was enclosed as Annexure B to satisfy sub-para 7C of Para A of Schedule III to Regulation 30. Company Secretary and Compliance Officer Hitesh Kumar signed the digital submission to both exchanges on October 31, 2026.

Capital India Finance's RemitX Divestment and Lending Scale

According to akta.pro company records, Capital India Finance grew assets under management 22% year on year to ₹1,227.37 crore in FY26 and disbursements 62% year on year to ₹753.54 crore. The same records show profit after tax of ₹40.36 crore in FY26, a 243% jump, and a branch network expanded from 29 to 46 locations across India during the year.

RemitX Sale and Compliance Appointments Before Menon's Exit

In September 2026, Niyo acquired Capital India Finance's RemitX foreign and international operations, including its branch network, distribution partners, staff and brand, Incubees reported. RemitX had 32 locations across more than 30 cities and 16 states, and Niyo was to add over 2,500 distribution partners.

On October 5, 2026, Capital India Finance appointed Hitesh Kumar as Company Secretary and Compliance Officer and Simarjeet Singh as Chief Compliance Officer, ScanX reported. The board also authorized Porwal and Chief Executive Officer Pinank Jayant Shah to determine the materiality of disclosures to stock exchanges.