Banas Finance appoints Praveen Jangid as CFO effective Jun 29

Banas Finance Ltd has appointed Praveen Jangid as its Chief Financial Officer (CFO) effective June 29, 2026, to strengthen its financial governance and support long-term growth. The Board of Directors approved the appointment based on the recommendation of the Nomination and Remuneration Committee. This strategic move is expected to enhance the company's financial functions, governance standards, and operational efficiency through Jangid's leadership and expertise.

The appointment complies with Section 203 of the Companies Act, 2013, and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board meeting, where the decision was finalized, commenced at 11:00 A.M. and concluded at 1:00 P.M. on the same day. The necessary disclosures were submitted to BSE Limited under Regulation 30 of the Listing Regulations and relevant SEBI circulars.

Praveen Jangid brings nearly a decade of experience to the role, specializing in financial reporting, budgeting, taxation, audits, and internal controls. His professional background includes managing end-to-end accounting operations, statutory compliance, financial consolidations, and cash flow management. This expertise is anticipated to bolster the company's financial planning and reporting capabilities.

Key Appointment Details

Sr. No	Detail	Information
1	Reason for change	Appointment to enhance financial functions and governance standards
2	Date of Appointment	June 29, 2026
3	Brief Profile	Finance professional with almost 10 years of experience in reporting, taxation, and audits
4	Disclosure of relationships	Not Applicable
5	BSE Circular No. LIST/COMP/14/2018-19	Not Applicable

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
0.0%	+0.29%	+3.23%	-14.99%	-23.67%	+29.94%

M/s HRU & Associates resigned as the secretarial auditor of Banas Finance Ltd effective June 12, 2026, due to other pre-occupations in other assignments. The resignation was submitted via a letter dated June 12, 2026, and accepted with immediate effect. The company confirmed that there were no concerns raised by the auditor regarding the management and no material reason for the resignation.

The resignation was intimated to BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was also made in accordance with Part A of Schedule III of the said regulations and SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015.

Details of the Resignation

The company provided the specific details of the event in an annexure to the regulatory filing.

Details of events	Information of such event(s)
Name of the Secretarial Auditor	M/s HRU & Associates Practicing Company Secretaries
Reason for change	Resignation: Resigned due to other pre-occupations in other assignments
Date of Resignation	12 June, 2026
Brief profile	Not Applicable
Disclosure of relationship	Not Applicable

The Audit Committee and the Board of Banas Finance Ltd will consider the appointment of new secretarial auditors in due course. The company stated that it would intimate the exchange once the new appointment is finalized. Hemanshu Rohit Upadhyay, the proprietor of M/s HRU & Associates, signed the resignation letter.