Gurumoorthy Mahalingam

The rule: No AIS rule 26 (not an AIS officer). SEBI/RBI post-tenure cooling-off norms not checked. The relevant question is concurrent office (LIC director + Fairfax-group director), not a gap.

1. Feb 2022 – 28 Jul 2026Documented

   Independent Director, Life Insurance Corporation of India (state-owned seller of 30.24% of IDBI Bank)

   Earlier: Whole-time Member, SEBI 2016–2021; Executive Director, RBI

   Business Standard (PTI) · LIC · PSU Connect

2. 19 Dec 2025Documented

   Thomas Cook (India) Ltd (Fairfax-controlled, per Businessworld)

   Additional Non-Executive Independent Director, 5 years to 18 Dec 2030

   considered and approved the appointment of Mr. Gurumoorthy Mahalingam (DIN 09660723), as an Additional, Non-Executive Director (Independent) of the Company w.e.f. December 19, 2025, for a term of 5 consecutive years

   Thomas Cook (India) Ltd · Thomas Cook (India) Ltd via BSE · Businessworld via TradingView/Moody's

1. Held LIC independent directorship (incl. LIC Investment Committee and Executive Committee) concurrently with the Thomas Cook (Fairfax) directorship while LIC was a seller in the IDBI Bank strategic sale and Fairfax was a bidder. Concurrent period 19 Dec 2025 – 28 Jul 2026 (221 days).

   When

   19 Dec 2025 to 28 Jul 2026

   Role

   Independent Director of LIC; member, Investment Committee, Executive Committee, Audit Committee; chairperson of NRC, Risk Management and Stakeholders Relationship Committees (per LIC cessation filing). No record that IDBI came before any of these committees.

   Shri Gurumoorthy Mahalingam, Independent Director (Ceased w.e.f. 28/07/2026)

   There is no allegation that any of these individuals influenced the IDBI sale. Nor is there public evidence that they did.

   No public record states that Mahalingam was part of LIC's decisions on IDBI.

2. LIC board re-appointed him as independent director for a further six months from 29 Jan 2026 — 40 days after he joined the Thomas Cook board. The re-appointment filing does not mention Thomas Cook in the extract read.

   When

   28 Jan 2026

   Role

   Re-appointee (decision by LIC board on NRC recommendation)

   Note

   Two filings, one issuer (LIC). Whether the Thomas Cook directorship was disclosed to LIC is not on record; the Annexure 'directorships' field was not checked line by line.

   has approved the re-appointment of the Shri Mahalingam G (DIN: 09660723) and Dr. V S Parthasarathy (DIN: 00125299) as Independent Directors for a further term of six months commencing from January 29, 2026

Businessworld: 'LIC has not said whether he disclosed his Thomas Cook role or stepped aside from discussions on the sale.' No statement by Mahalingam, LIC or Thomas Cook found as of 31 Oct 2026.