MAM
Ugro Capital appoints Anuj Pandey as CEO to steer its MSME engine into the next growth orbit
MUMBAI: In India’s rapidly evolving fintech theatre, few stages are as critical-and crowded-as MSME lending. Now, Ugro Capital, the Datatech-driven non-banking finance company, has shuffled the deck and handed the reins to a man who helped script its earliest chapters. On 24 June 2025, Ugro announced the elevation of Anuj Pandey—its founding team member and chief risk officer—as its new chief executive officer (CEO).
Pandey steps into the top role at a pivotal moment. The company recently crossed Rs 12,000 crore in assets under management, announced the strategic acquisition of Profectus Capital, and completed a large capital raise. With over 300 branches now in play, Ugro is transitioning from growth mode to scale mode—and Pandey has been handed the wheel to steer that transition.
As CEO, he will lead Ugro’s national MSME operations, digital lending platforms, and partner ecosystem. He will report to Shachindra Nath, founder, VC, & managing director, who continues to helm the company’s strategic direction, governance and investor relations.
“Anuj’s elevation as CEO is a natural progression in Ugro’s evolution as an institution. As a founding member and chief risk officer, his deep understanding of MSME lending, risk, and technology-driven operations makes him ideally suited to lead execution. I will remain fully accountable for Ugro’s strategic and governance matters, while Anuj takes full charge of the business. With recently concluded acquisition of Profectus and a large capital raise, I along with my Board felt that Ugro should be steered under one strong hand who exclusively focuses on the operating performance while I continue to focus on the strategic agenda of making Ugro as India’s largest financial institution for MSME financing”, said Nath.
Pandey, an alumnus of IIM Lucknow with a B.Tech in Mechanical Engineering, brings over 25 years of experience from GSK Consumer, ABN AMRO, Barclays and Religare. At Ugro, he has built its credit and risk architecture from the ground up, helping shape the company’s data-first approach to MSME financing.
“I have been working with Shachindra for last seven years even prior to our formation. Being part of Ugro’s founding journey has been a privilege. I look forward to leading the next phase of growth — expanding our MSME reach, scaling embedded finance, and continuing our mission of ‘solving the unsolved’ credit gap with discipline and innovation”, Pandey said.
His elevation signals Ugro’s ambition to pair entrepreneurial vision with institutional rigour. As it scales new lending frontiers, the company appears intent on anchoring growth with continuity—and trusting those who helped build the ship to now captain it.
Brands
CoinDCX co-founders held in Thane over Rs 71 lakh fraud case
Firm calls FIR false, claims impersonation scam as probe unfolds
THANE: The Thane Police have arrested Sumit Gupta and Neeraj Khandelwal, co-founders of CoinDCX, on charges of criminal breach of trust linked to an alleged Rs 71.6 lakh fraud.
The duo were picked up from Bengaluru and produced before a holiday court in Thane, which remanded them to police custody until Monday.
At the centre of the case is a complaint by an insurance advisor from Mumbra, who claims he was drawn in by promises of high returns and regulatory backing tied to cryptocurrency investments and franchise opportunities. The alleged scheme ran between August 2025 and February 2026, with funds collected through both cash and bank transfers. The promised franchise never materialised, nor did the returns, and the accused allegedly became untraceable.
Police have registered an FIR against six individuals under provisions of the Bharatiya Nyaya Sanhita and launched a broader investigation.
CoinDCX, however, has pushed back sharply. In a statement posted on X, the company described the FIR as “false” and part of a wider impersonation scam, claiming fraudsters had been posing as its founders to dupe unsuspecting investors.
“The entire conspiracy falsely claims that funds were transferred in cash to third-party accounts which have no relation to CoinDCX,” the company said, distancing itself from the alleged transactions.
The firm added that brand impersonation scams are on the rise in India’s digital finance ecosystem. It noted that it had flagged over 1,200 fake websites mimicking its platform between April 2024 and January 2026.
For now, the case sits at a familiar crossroads in India’s crypto story, where ambition, opacity and opportunism often collide, leaving investigators to untangle what is real and what merely looks the part.
