NDL Ventures Limited (NDL – formerly known as NXTDIGITAL Limited) on Friday announced the appointment of Sachin Pillai as Director on the Board of Directors via an e-voting process that began on March 20, 2023, and ended on April 19, 2023.

Sachin Pillai brings extensive experience in the financial services sector, particularly in the NBFC sector, according to a BSE filing.

Sachin Sundaram Pillai is the Managing Director & CEO of Hinduja Leyland Finance Limited and Managing Director of Hinduja Housing Finance Limited. He has been associated with India’s banking & financial sector for more than two decades.

The company also announced that it has received all of the necessary approvals to change its name from NXTDIGITAL Limited to NDL Ventures Limited.

Both of the aforementioned actions are consistent with the Company’s goal of becoming a financial services company and complement the proposed merger.

On Friday, the Board of Directors proposed a final dividend of 20 percent per equity share with a face value of Rs 10 per share.

With respect to the proposed merger of Hinduja Leyland Finance Limited (HLFL) with the Company, the Board of directors of the Company had approved the Draft Scheme of Arrangement of Company with HLFL at their meeting held on November 25, 2022. The Scheme of Arrangement has been filed with regulatory authorities seeking their approval, namely, Reserve Bank of India, Competition Commission of India, Bombay Stock Exchange Limited, Securities and Exchange Board of India and other authorities. No sooner the approvals are received, the necessary applications will be filed with Hon’ble National Company Law Tribunal.

The Company posted a Profit after Tax of Rs 27.40 lakhs for the year ended March 31, 2023. These results are post the transfer of the Digital Media & Communications business undertaking to Hinduja Global Solutions Limited and therefore arrived on the reduced balance sheet of the Company as presently in place in the transition phase.