Abans Financial Services Limited announced the outcome of its Board of Directors meeting held on May 15, 2026. The board approved several governance decisions, including key leadership appointments, a change in the registered office, and an internal re-organisation of senior management roles. The meeting commenced at 09:00 P.M. (IST) and concluded at 09:45 P.M. (IST).

Key Leadership Appointments

The board approved significant personnel changes to reshape the company's senior leadership structure. The following table summarises the key appointments made at the meeting:

Mr. Karan Heda's appointment as Additional Director in the capacity of Non-Executive Director is subject to shareholder approval. He is a qualified Chartered Accountant with over 12 years of experience in financial accounting, treasury, risk management, and regulatory compliance. He has been serving as Vice President – Accounts & Treasury at ABANS Group. Consequent to this appointment, he shall cease to be part of the Senior Management Personnel of the company.

New Chief Financial Officer Profile

Mr. Raghunathan Mudaliar has been appointed as Chief Financial Officer (Key Managerial Personnel) with effect from May 16, 2026, on a full-time employment basis. Mr. Mudaliar is a qualified Chartered Accountant certified by the Institute of Chartered Accountants of India (ICAI) and holds Master of Commerce and Bachelor of Commerce degrees from the University of Mumbai. He brings over seven years of professional experience across NBFCs, capital markets, real estate, and the education sector, with expertise in financial reporting, strategic financial management, and regulatory compliances including SEBI and RBI regulations. He was previously associated with Abans Finance Private Limited as Chief Financial Officer, and prior to that with GeeCee Ventures Limited and BSE Institute Limited in finance and accounts roles.

This appointment follows the resignation of Mr. Nirbhay Vassa, who was relieved of his duties as Whole-Time Director & Chief Financial Officer via resignation letter dated April 13, 2026, with effect from the closure of business hours on May 15, 2026. Mr. Mudaliar has been designated as the Key Managerial Personnel under Regulation 30(5) of the SEBI LODR Regulations.

Revised Key Managerial Personnel

The revised list of Key Managerial Personnel authorised by the Board of Directors with effect from May 16, 2026, is as follows:

Internal Auditor Appointment and Registered Office Change

The board approved the appointment of M/s. V C Shah & Co., Chartered Accountants (Firm Registration No.: 109818W) as Internal Auditors for financial year 2026-27. The firm was established in 1969 and offers audit and assurance, consultancy, and advisory services across sectors including banking, broking, finance companies, manufacturing, IT, and real estate. Additionally, the board approved a change in the company's registered office within the same city, as detailed below:

Senior Management Re-organisation and New Appointments

The board approved an internal re-organisation of roles and responsibilities of certain Senior Management Personnel, effective May 15, 2026. The re-organisation resulted in changes in the reporting structure of Mr. Mahesh Kumar Chervuveedu (Head, Banking Services), Mr. Ketur Shah (Head, Investment Banking), Mr. Bhavesh Suthar (Assistant Vice President, Indirect Tax), and Mr. Jignesh Shah (Assistant Vice President, Accounts). The board clarified that these changes did not arise on account of resignation, termination, or cessation of employment.

Additionally, the board approved the appointment of two new Senior Management Personnel, both effective May 15, 2026, on a full-time employment basis:

The trading window for dealing in the company's securities shall remain closed until 48 hours from the announcement dated May 15, 2026.

Abans Financial Services Limited has informed stock exchanges about the voluntary delisting of Non-Convertible Debentures (NCDs) issued by its material subsidiary, Abans Finance Private Limited, from BSE Limited.

Delisting Details and Timeline

The delisting became effective from April 27, 2026, following compliance with formalities under Chapter VIA of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company received official notification through BSE Notice No. 20260424-13 dated April 24, 2026.

Regulatory Compliance

The delisting was executed pursuant to Regulation 30(9) of the SEBI LODR Regulations. Trading in the specified NCDs has been suspended with effect from April 27, 2026, following completion of all required formalities for voluntary delisting.

Corporate Communication

The intimation was signed by Bhargavi Halapeti, Company Secretary & Compliance Officer (Membership No.: A23955), and communicated to both BSE Limited and National Stock Exchange of India Limited. The company operates under BSE Scrip Code 543712 and NSE Symbol AFSL.

Company Information

Abans Financial Services Limited, formerly known as Abans Holdings Limited, maintains its registered office at Nariman Point, Mumbai. The company has made the delisting information available on its official website at www.abansfinserv.com for stakeholder reference.