Magellanic Cloud Limited, formerly known as South India Projects Limited, announced a significant change in its key management personnel. Based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors, in a meeting held on January 13, 2026, approved the appointment of Mr. Prathik Harishbhai Bhat as the Interim Chief Financial Officer (CFO) and Key Managerial Personnel of the Company.

This appointment is effective from February 13, 2026. Mr. Bhat is not related to any of the Directors, Key Managerial Personnel, or Promoters of the Company. His profile indicates over two decades of experience in Structured Credit, Corporate Finance, and Business Development, with a focus on delivering sustained profitability through strategic planning and execution. He currently serves as Associate Director – P&L Head and Head – Distribution & Channel Alliances at MHP Fintech Services Pvt. Ltd.