NEW DELHI
Kotak Mahindra Prime Limited (KMPL), a leading name in vehicle finance, announced a major leadership change.
The company’s Board of Directors has appointed Suraj Rajappan as its new Managing Director and CEO. Starting June 1, 2026, Rajappan will take the reins for a three-year term, following the retirement of the current leader, Shahrukh Todiwala.
Todiwala is stepping down after an impressive thirty-year career with the Kotak Group. He leaves behind a legacy of careful growth and a strong focus on keeping customers happy. His successor, Suraj Rajappan, is no stranger to the company. Having started his professional journey at KMPL, Rajappan brings 24 years of deep experience to his new role. He has worked across many different parts of the business, making him a perfect fit to lead the firm’s next chapter.
Ashok Vaswani, the head of Kotak Mahindra Bank, welcomed the appointment, noting that Rajappan’s skills will help the company grow even further. KMPL has a long history, starting in 1996 as a joint venture with Ford before becoming a full part of the Kotak family in 2005.
Looking ahead, Rajappan plans to stick to the company’s roots of disciplined growth and innovation. He aims to strengthen ties with car manufacturers and dealers while ensuring a top-tier experience for every borrower. As the digital economy grows, KMPL remains a cornerstone of India’s automotive world, helping thousands of people drive home their dream vehicles every year.
