SBI Funds Management Limited, the joint venture between SBI and AMUNDI managing SBI Mutual Fund, has announced a major board change on 28th September 2026. One independent director completed second term and new independent director appointed.
The announcement was made under Regulation 30 read with Schedule III of SEBI LODR and relevant SEBI circulars. Circular resolution was passed on 28th September 2026 at 09:39 pm IST and intimation also available on company website. Filing signed by Vinaya Datar, Chief Compliance Officer, Company Secretary and Head Legal.
At A Glance - Key Highlights
- Company: SBI Funds Management Limited
- Announcement Date: 28th September 2026
- Outgoing Director: Mr. Moiz Miyajiwala completed second term as Independent Director
- Cessation Date: Closure of business hours from 28th September 2026
- Incoming Director: Mr. Giridhar Sanjeevi appointed as Additional Director Independent
- Effective From: 29th September 2026 for 3 consecutive years subject to shareholder approval
Completion Of Second Term As Independent Director
Mr. Moiz Miyajiwala completed his second term as the Independent Director of the company from closure of business hours from September 28, 2026.
Accordingly, he ceased to be the Independent Director, Chairperson and member of the Audit Committee, Risk Management Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, from closure of business hours from September 28, 2026. The company places on record his valuable contributions and guidance provided during his association with the company.
Appointment Of New Independent Director
The Board of the directors had through circular resolution passed on September 28, 2026 at 09:39 pm IST, approved appointment of Mr. Giridhar Sanjeevi as an Additional Director Independent of the Company, for a period of 3 three consecutive years effective from September 29, 2026, subject to the approval of the shareholders of the Company.
Mr. Giridhar Sanjeevi holds a post graduate diploma in management from Indian Institute of Management, Ahmedabad and is a qualified Chartered Accountant. He has over 3 decades of experience in finance and management.
He is currently serving as a Chairperson and Independent Director on the Board of Amagi Media Labs Limited. He was associated with Indian Hotels Company Limited, as its Executive Vice President and Chief Financial Officer.
Other Disclosures
Disclosure of relationships between directors: Mr. Giridhar Sanjeevi does not have any relationship with other directors.
Information as required pursuant to circular ref. no. LIST/COMP/14/2018-19 of BSE and NSE/CML/2018/24 dated June 20, 2018: Mr. Giridhar Sanjeevi is not debarred from holding the office of Director by virtue of order of SEBI or any other such authority.
Board Change: One exit after completing full two terms and one new appointment for 3 years.
Committee Impact: Outgoing director also ceased from Audit, Risk Management, Nomination and Remuneration, Stakeholders Relationship committees.
Board Update Details In Table
| Point | Details - Cessation | Details - Appointment |
|---|---|---|
| Company Name | SBI Funds Management Limited | |
| Director Name | Mr. Moiz Miyajiwala | Mr. Giridhar Sanjeevi |
| Date | Closure of business hours 28th September 2026 | Effective 29th September 2026, Term 3 years |
| Reason | Completed second term as Independent Director | Appointed as Additional Director Independent subject to shareholder approval |
| Profile | Not Applicable | PGDM IIM Ahmedabad, CA, 30+ years finance experience, Ex-EVP and CFO Indian Hotels, Chairperson Amagi Media Labs |
Conclusion
SBI Funds Management Limited on September 28, 2026 announced Mr. Moiz Miyajiwala completed second term as Independent Director and ceased from board and committees, while Mr. Giridhar Sanjeevi, IIM-A and CA with 3 decades experience, appointed as Additional Independent Director for 3 years effective September 29, 2026 subject to shareholder approval and not debarred by SEBI.