Outcome of the Board Meeting held on May 15, 2026
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The Board of Directors of Abans Financial Services Ltd met on May 15, 2026, and approved several key changes. Mr. Nirbhay Vassa resigned as Whole-Time Director and CFO (effective end of business on May 15, 2026), and Mr. Raghunathan Mudaliar was appointed as the new CFO effective May 16, 2026. Mr. Mudaliar is a Chartered Accountant with over 7 years of experience across NBFCs, capital markets, and regulatory compliance. Additionally, Mr. Karan Heda was appointed as an Additional Non-Executive Director, and two new Senior Management Personnel (Mr. Ritesh Chavan and Mr. Vinod Sagar) were appointed. The company also changed its registered office within Nariman Point, Mumbai, and appointed M/s. V C Shah & Co. as Internal Auditors for FY 2026-27. An internal re-organisation was also undertaken, resulting in changes to reporting structures of certain senior management employees.
The resignation of the CFO and his replacement indicates a transition in the finance leadership. Shareholders should note the appointment of a qualified new CFO with relevant NBFC and regulatory experience. The trading window is closed for 48 hours from this announcement.