Intimation under Regulation 30 SEBI (LODR) for resignation of Mr. Anurag Kanwatia (DIN: 11069031) Whole time Director & CFO of the company.
ABANSENT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Abans Enterprises' Board, 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, citing personal reasons. His resignation takes effect from the close of business on February 28, 2026. To fill the gap, Mr. Deepak Zope — a commerce and MBA (Finance) professional with 14 years in financial services and over 10 years at the Abans Group — has been appointed as Additional Director (Whole-Time) for a three-year term starting March 1, 2026, subject to shareholder approval. Separately, the Board withdrew the previously announced Scheme of Amalgamation between Abans Jewels Limited (its wholly owned subsidiary) and Abans Enterprises, stating that the expected benefits are no longer sufficiently demonstrable amid evolving business and market conditions. The company clarified that the withdrawal has no impact on its financial position or results. Additionally, Whole-Time Director & CEO Mr. Jinesh Savla has been authorized as the KMP for determining materiality of events and making stock exchange disclosures.
The CFO transition is being managed through a planned internal replacement, which should limit operational disruption. However, the abandonment of the amalgamation with its WOS signals a strategic rethink, and investors should monitor whether a revised consolidation or restructuring plan emerges.