Abans Financial Services Limited has informed the Exchange regarding Notice of Postal Ballot
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Abans Financial Services has issued a Postal Ballot Notice to shareholders seeking approval through remote e-voting (February 26 to March 27, 2026) for 49 resolutions. Key items include the re-appointment of Mr. Abhishek Bansal as Managing Director for a second 5-year term from June 18, 2026 at NIL remuneration, and the re-appointment of Ms. Ashima Chhatwal as Independent Director for a second 5-year term from July 12, 2026. The bulk of the notice (47 resolutions) seeks shareholder approval for material related party transactions with promoter group entities, including Abans Broking Services (up to Rs. 1,94,500 lakhs), Abans Jewels (Rs. 1,94,500 lakhs), Abans Securities (Rs. 1,94,500 lakhs), Abans Fintrade (Rs. 1,94,500 lakhs), Abans Metals (Rs. 1,60,000 lakhs), Abans Finance (Rs. 1,14,500 lakhs), and Abans Enterprises (Rs. 37,375 lakhs) for FY 2026-27. These transactions mainly involve purchase and sale of securities and redemptions of debt securities. Voting will be conducted via NSDL's e-voting platform, with results announced within 2 working days of voting closure.
Shareholders should review the large related party transactions with promoter group companies, which are routine but significant in size relative to the company's business, to ensure they remain at arm's length. The MD re-appointment at NIL remuneration is shareholder-friendly, while the bulk of the resolutions are standard pre-approvals required under SEBI LODR for ongoing group-level securities transactions.