Intimation pursuant to Regulation 30 of SEBI LODR Regulations for resignation of Whole time Director & CFO and appointment of Whole time Director.
ABANSENT · price
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The board of Abans Enterprises Ltd, at its meeting on February 5, 2026, accepted the resignation of Mr. Anurag Kanwatia from the position of Whole-Time Director and Chief Financial Officer, effective close of business hours on February 28, 2026, citing personal reasons. To fill the gap, Mr. Deepak Zope has been appointed as an Additional Whole-Time Director for a three-year term starting March 1, 2026, subject to shareholder approval; he is an internal candidate from the Abans Group with over 10 years of tenure and an MBA in Finance. Separately, the company has withdrawn its previously announced Scheme of Amalgamation with its wholly owned subsidiary Abans Jewels Limited, stating that the expected benefits are no longer sufficiently demonstrable given current business and market conditions. The board has stated the withdrawal has no impact on the company's financial position.
Shareholders should note a leadership change at the CFO/WTD level, though the successor is a long-tenured internal candidate which may provide continuity. The withdrawal of the Jewels amalgamation removes a previously signalled restructuring pathway and signals that management has re-evaluated the merger's strategic value, though no financial impact is claimed.