Axis Bank and Bandhan Bank have announced the resignations of their Chief Financial Officers on Monday, marking a significant reshuffle in the finance departments of major Indian banks. According to The Economic Times, Axis Bank's CFO of six years, Puneet Sharma, has resigned to pursue the next phase of his professional journey, with his services to be relieved on August 31, 2026. Similarly, Bandhan Bank's CFO, Rajeev Mantri, has put in his papers as the microlender-turned-universal bank undergoes leadership changes. These departures follow the recent resignation of Bhavin Lakhpatwala, an HDFC Bank veteran, who quit as executive vice president to join smaller rival RBL Bank as its CFO. Industry insiders suggest a potential move for Sharma to HDFC Bank after incumbent Srinivasan Vaidyanathan's term ends in October, while Mantri is widely believed to take over Sharma's position at Axis Bank.
RDB Real Estate Construction Ltd has officially accepted the resignation of Mr. Harsh Jhunjunwala from the position of Chief Financial Officer effective June 24, 2026. According to the latest disclosure filed with BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the resignation was tendered due to personal and professional commitments and was accepted by the Board with immediate effect. Mr. Jhunjunwala has ceased to be a Key Managerial Personnel of the company in terms of Section 203 of the Companies Act, 2013, and Regulation 30(5) of the SEBI Listing Regulations. The company confirmed there are no other material reasons for the resignation beyond those stated in his communication, with Mr. Pradeep Kumar Pugalia, Whole Time Director, signing the official disclosure.
Axis Bank has approved significant leadership changes alongside the CFO departure, as reported by The Economic Times. The board approved the reappointment of CH S S Mallikarjunarao as an independent director for a second term of four years from February 1, 2027, up to January 31, 2031, subject to member approval. Additionally, the board approved the reappointment of Munish Sharda as whole-time director for a further period of three years from February 27, 2027, up to February 26, 2030, subject to RBI and member approval. These appointments come as the bank prepares for the upcoming quarterly results amid the CFO transition.
Vedanta has incorporated a wholly owned subsidiary, Vedanta Property Platforms (VPPL) in Mumbai, Maharashtra, to undertake real estate business and ancillary activities. As reported by Business Standard, this strategic move expands the conglomerate's presence in the real estate sector through a dedicated subsidiary structure.
Embassy Development has signed a strategic Memorandum of Understanding (MoU) with the Uttar Pradesh government for a substantial real estate development project. According to reports from Business Standard, the MoU involves a heavy capital investment of ₹1,500 crore to develop premium real estate projects in the high-growth Lucknow corridor. This significant investment demonstrates the company's commitment to expanding its presence in the northern Indian market.
