Aavas Financiers received a communication from the National Housing Bank on September 18, 2026, directing it to pay ₹1.09 crore in penal charges and repay a refinance facility of approximately ₹12.24 crore. The regulator issued the notice regarding loan pools availed under the NHB refinance scheme.

The company disclosed the development in a filing to stock exchanges under Regulation 30 and 51 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The disclosure was filed on September 18, 2026, at 1:19 pm.

Regulatory Directive Details

The National Housing Bank determined the penal charges in its capacity as a refinance provider. The directive requires Aavas Financiers to settle the outstanding amount in accordance with NHB Refinance Circulars.

The company stated it would take necessary actions to comply with the directions. The full disclosure is available on the company’s website.

Aavas Financiers appointed Manu Yeshpal Singh as managing director and Sanjeev Srinivasan as an additional non-executive nominee director on September 18, 2026. The board also accepted the resignation of Anant Jain from his role as non-executive nominee director.

The appointments follow approval from the Reserve Bank of India dated September 17, 2026. Both new directors will serve five-year terms commencing September 19, 2026, subject to shareholder approval.

Leadership Changes

Manu Yeshpal Singh assumes the role of managing director and chief executive officer, effective September 19, 2026. He previously served as chief executive officer of the company. His term runs until September 18, 2031.

Sanjeev Srinivasan joins as an additional non-executive nominee director nominated by promoter Aquilo House Pte. Ltd. He is liable to retire by rotation for the same five-year period.

Anant Jain resigned due to personal reasons, effective at the close of business on September 18, 2026.

Board Meeting Details

The board meeting commenced at 5:21 pm and concluded at 6:13 pm. The decisions were taken pursuant to Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.