Abans Financial Services Limited has informed the Exchange regarding Change in Director(s) of the company.
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Abans Financial Services held a board meeting on May 15, 2026, making several key changes. Mr. Nirbhay Vassa resigned as Whole-Time Director and CFO effective from the close of business on May 15, 2026, via a resignation dated April 13, 2026. He was succeeded by Mr. Raghunathan Mudaliar as the new CFO effective May 16, 2026. Additionally, Mr. Karan Heda, a qualified Chartered Accountant with 12+ years of experience (currently VP - Accounts & Treasury at Abans Group), was appointed as an Additional Director in a Non-Executive capacity. Two new senior management personnel were also appointed: Mr. Ritesh Chavan (ex-Research Head, Currency and Commodity) and Mr. Vinod Sagar (bullion market professional). The company also appointed V C Shah & Co. as internal auditors for FY 2026-27 and relocated its registered office within Nariman Point, Mumbai. An internal reorganisation of senior management roles and reporting structure was also approved.
The resignation of the CFO and Whole-Time Director combined with a new CFO appointment from outside the listed entity (currently CFO at Abans Finance Private Limited) signals a transition in financial leadership. The appointment of a senior group executive to the board may indicate governance continuity. Overall, the changes are operational in nature with no immediate material impact on business continuity.