'Big Milestone': Cars24 Brings Infosys CFO Jayesh Sanghrajka On Board As Independent Director

Used-car marketplace Cars24 has appointed Infosys Chief Financial Officer Jayesh Sanghrajka as an independent director on its board, as the company looks to strengthen governance and leadership capabilities while scaling its operations across multiple markets.

The appointment was announced by Cars24 co-founder Ruchit Agarwal in a note published on June 8, where he described the development as a "meaningful moment" for both himself and the company.

"Jayesh Sanghrajka, CFO of Infosys, is joining Cars24's Board as an Independent Director. This is a meaningful moment for me personally and for the company," Agarwal wrote.

Sanghrajka oversees finance, mergers and acquisitions, and investor relations at Infosys. According to Agarwal, the appointment comes at a crucial juncture as Cars24 expands beyond used-vehicle transactions into financing, ownership and automotive services across India, the UAE and Australia.

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"Cars24 is not a transaction business. We are building the rails for how people buy, sell, finance and own their cars across India, UAE and Australia. We are creating a category. To do that at scale, across multiple markets, heading toward public markets you need people in the room who have been through that before," he said.

Highlighting Sanghrajka's experience in public markets, Agarwal said the Infosys executive brings expertise in navigating investor scrutiny and regulatory requirements across jurisdictions.

"He has run finance, M&A and investor relations at Infosys, one of very few Indian companies listed in both the US and India. He has navigated public-market scrutiny across two regulatory regimes for over a decade," Agarwal wrote.

Corporate governance was another key consideration behind the appointment, he added.

"On corporate governance, he is the gold standard. How to think about it. How to operate it. Having that standard sit inside our boardroom raises the bar for all of us, starting with me."

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The appointment also formalises a long-standing relationship between Sanghrajka and Cars24. According to Agarwal, the Infosys CFO has been associated with the company's audit committee for four years and has chaired several of its meetings.

"He is also not learning Cars24 from a deck. He has been member of our Audit Committee for four years and has chaired our meetings on multiple occasions. He has asked the hard questions. He has kept showing up," Agarwal wrote.

In a separate LinkedIn post, Agarwal called the appointment "a big milestone for Cars24 and a full circle moment" in his professional journey.

"When I started my career as a 25-year-old at Infosys, Jayesh Sanghrajka was someone I looked up to. Today, I'm delighted to welcome him to the Cars24 Board as an Independent Director," he wrote.

Founded in 2015, Cars24 has emerged as one of India's largest online platforms for buying and selling pre-owned vehicles. The company is backed by investors including SoftBank, Alpha Wave Global and Tencent.

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