What’s new

• CFO Dheeraj Bajoliya resigned effective June 9, and Manish Chandan was appointed his replacement effective June 10.
• The board also approved appointments of Neha Singh as Whole-Time Director and Company Secretary and Pramod Kishore Shrivastava as Chairman.
• The director appointments were previously disclosed and follow RBI clearance.

Why it matters

For a company with a ₹48 crore market cap, the CFO is a critical role overseeing financial strategy and compliance. The immediate, pre-planned replacement minimizes operational disruption, but the departure itself removes a known hand at the financial controls of a small NBFC. The filing provides no reason for Bajoliya's exit.

What we’re watching

• Whether the new CFO's background or stated plans are disclosed in future filings.
• Any changes to financial reporting, audit conclusions, or compliance status following the transition.
• The timeline for shareholder approval of the new director appointments.

The full read

Ad-Manum Finance, a nano-cap NBFC with a market capitalisation of ₹48 crore, lost its CFO. Dheeraj Bajoliya resigned effective June 9. The board named Manish Chandan his successor the next day, effective June 10. The swift appointment points to a planned transition, but the filing offers no reason for the original departure. For a company this size, the CFO is the primary steward of financial reporting and regulatory compliance. The board simultaneously ratified two director appointments, Neha Singh and Pramod Kishore Shrivastava, which had been previously disclosed and follow RBI clearance. The CFO change is the material event here.

Primary source: BSE · NSE

What’s new

• Ad-Manum Finance is writing off ₹1.20 crore in decade-old receivables and deposits.
• The charge includes unrecoverable dues from Aris Capital and legacy customs and court deposits.
• The write-off equals 2.6% of the company's market cap and 11% of its annual net profit.

Why it matters

While management calls this a routine balance-sheet clean-up, the scale is meaningful for a nano-cap NBFC. Wiping out 11% of annual profit to clear old assets raises questions about the quality of the remaining loan book.

What we’re watching

• Whether this signals further write-offs of legacy assets.
• The impact of this charge on the next quarterly earnings report.
• Any further disclosure on why these specific receivables remained on the books for a decade.

The full read

Ad-Manum Finance is cleaning up its balance sheet by writing off ₹1.20 crore in legacy assets. The board approved the move today, targeting a decade-old receivable from Aris Capital and various deposits with customs and court authorities that are no longer recoverable.

It was a necessary move.

For a nano-cap NBFC with a market cap of ₹46 crore, the hit is not trivial, as it represents 2.6% of the company's total value and roughly 11% of its latest annual net profit. While management maintains that the charge will not disrupt operations or liquidity, it forces a downward adjustment to near-term earnings expectations. Investors now have to weigh whether this is a final house-cleaning or a sign of deeper asset quality issues within the remaining book.

Primary source: BSE · NSE