Dear Sir, PFA resignation letter and disclosure of Reg 30 of Ms. Deepthi Donkeshwar, from Non Executive Independent Director of the the Company. Kindly take the same on records.
Awaiting price reaction for this filing.
The board of Avasara Finance Ltd held a meeting on 27th May 2025 and approved the audited standalone financial results for the quarter and financial year ended 31st March 2025, along with a declaration of unmodified opinion. Ms. Deepthi Donkeshwar (DIN: 08712113) resigned as Non-Executive Independent Director with immediate effect, citing 'Pre-Occupation' as the reason, with no governance concerns flagged. The board appointed Mr. Raj Surendra Jain, a Chartered Accountant with prior experience at CRED and Deloitte, as the new Chief Financial Officer. It also appointed M/s Priti J. Sheth & Associates as Secretarial Auditor for FY 2025-26 and M/s Adithya and Vishwas, Chartered Accountants as Internal Auditor for FY 2025-26.
The simultaneous change of CFO and exit of an Independent Director is a notable governance shuffle for a small listed NBFC, though the resignation appears routine and personal. Shareholders should monitor the FY25 audited results for actual business performance, as the leadership changes themselves are unlikely to move the stock meaningfully.