Dear Sir/Madam, We wish to inform you that Mr. Kordi Sanjay Prabhu has resigned from the post of Non Executive non Independent Director of the Company and the same has been accepted by the Company.
Awaiting price reaction for this filing.
Avasara Finance Ltd has informed the stock exchange that Mr. Korodi Sanjay Prabhu (DIN: 00023196) has resigned from his role as Non-Executive, Non-Independent Director with effect from close of business on October 9, 2025, citing personal commitments. He was also stepping down from multiple committees including the Audit Committee, Nomination & Remuneration Committee, Stakeholder Relationship Committee, Risk Management Committee, Investment Committee and IT Strategy Committee. To fill the vacancy, Mr. Eugene Oommen Koshy (DIN: 02357608) has been appointed as Additional Non-Executive Non-Independent Director effective the same date. Mr. Koshy brings around 26 years of experience in growth management, business development, strategic planning and global business development. The company confirms that there are no material reasons for the resignation other than personal commitments.
This is a routine board reshuffle with a like-for-like non-executive non-independent director change, so it is unlikely to have any meaningful impact on the stock price or shareholder value. Investors should note a change in Audit Committee composition but no governance red flags have been raised.