Outcome of the Board Meeting held on May 15, 2026
AFSL · price
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The Board of Directors of Abans Financial Services Limited met on May 15, 2026, and approved several key decisions. Mr. Karan Heda, a Chartered Accountant with 12+ years of experience, was appointed as an Additional Director (Non-Executive). Mr. Raghunathan Mudaliar was appointed as the new Chief Financial Officer effective May 16, 2026, replacing Mr. Nirbhay Vassa who resigned as Whole-Time Director and CFO effective the same day. The company also appointed M/s. V C Shah & Co. as Internal Auditors for FY 2026-27 and relocated its registered office within Nariman Point, Mumbai. Additionally, two new Senior Management Personnel were appointed — Mr. Ritesh Chavan and Mr. Vinod Sagar — along with internal re-organisation of reporting structures for certain employees. The trading window remains closed until 48 hours from this announcement.
The resignation of the CFO and Whole-Time Director signals a leadership transition that may attract attention from investors, while the appointment of an experienced Chartered Accountant as CFO could provide stability. The addition of new senior management personnel and internal re-organisation suggests restructuring aimed at strengthening operations.