Abans Enterprises Limited announced significant leadership changes and corporate decisions following its Board of Directors meeting held on February 05, 2026. The company disclosed key appointments, resignations, and the formal withdrawal of its amalgamation scheme with subsidiary Abans Jewels Limited.

Leadership Transition and New Appointments

The company announced the resignation of Mr. Anurag Kanwatia (DIN: 11069031) from his position as Whole-Time Director and Chief Financial Officer, effective from the close of business hours on February 28, 2026. In his resignation letter dated January 28, 2026, Kanwatia cited personal reasons for his departure and confirmed there were no material reasons beyond those mentioned.

The Board appointed Mr. Deepak Zope (DIN: 07870467) as Additional Director (Whole-Time) for a three-year term starting March 01, 2026, based on the recommendation of the Nomination, Remuneration & Compensation Committee. The appointment is subject to shareholder approval at the next general meeting or within three months from the appointment date.

New Director Profile and Authorization Changes

Mr. Deepak Zope brings extensive experience to his new role, holding a Commerce degree and MBA in Finance. With 14 years in financial services and over 10 years with the Abans Group, he possesses deep understanding of the banking and financial service sector. Currently overseeing day-to-day operations, Zope plays a pivotal role in developing and implementing new strategies for organizational growth.

The Board also authorized Mr. Jinesh Savla (DIN: 11286253), Whole Time Director & CEO, for determining materiality of events and making regulatory disclosures to stock exchanges under Regulation 30 of LODR Regulations. The company updated its Key Managerial Personnel list to reflect these changes.

Amalgamation Scheme Withdrawal Confirmed

The Board formally approved the withdrawal of the Scheme of Amalgamation between Abans Jewels Limited, its wholly-owned subsidiary, and Abans Enterprises Limited. Originally approved and filed with the National Company Law Tribunal (NCLT) in November 2024, the scheme withdrawal was deemed prudent due to evolving business and market dynamics.

The company stated that expected benefits from the proposed amalgamation were not sufficiently demonstrable at this stage. Management emphasized that the withdrawal has no impact on the company's financial position or results and is considered in the best interests of the company and its stakeholders.

Regulatory Compliance and Meeting Details

All disclosures were made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular dated January 30, 2026. The Board meeting commenced at 16:20 IST and concluded at 17:00 IST on February 05, 2026.

The company confirmed that Mr. Zope is not debarred from holding directorship by any SEBI order or other authority. The Board and Nomination Committee will appoint a successor CFO within the stipulated timeline and inform stock exchanges accordingly.

Abans Enterprises Limited , a company engaged in general trading of agri commodities, precious metals, and derivatives, has successfully concluded its postal ballot process with shareholders overwhelmingly approving the appointment of Mr. Jinesh Savla as Whole Time Director and Chief Executive Officer (CEO).

Postal Ballot Results

The voting results were announced on December 22, 2025, following the completion of the e-voting process. The resolution received exceptional shareholder support:

Key Details of the Approved Appointment

The shareholders have approved the following terms for Mr. Jinesh Savla's appointment:

Voting Process Timeline

The company conducted the postal ballot through e-voting with the following schedule:

About Mr. Jinesh Savla

Mr. Savla brings over 17 years of diverse experience across manufacturing, entrepreneurship, digital commerce, and financial markets. His background includes:

• Current role as Vice President – Research Desk and Institutional Fund Raising at Abans Group
• Previous experience as Vice President – Marketing at Tic Tac Toe Footwear
• Founder & CEO of Jin Plast Engineering
• Started career at Galva Deco Parts Pvt. Ltd., progressing to CEO

Mr. Savla holds a Bachelor's degree in Chemical Engineering from UDCT, Mumbai (now Institute of Chemical Technology).

Scrutinizer Report

The postal ballot was conducted under the supervision of M/s. D.A. Kamat & Co., Company Secretaries, with Ms. Rachana Shanbhag (FCS: 8227) serving as the scrutinizer. The scrutinizer confirmed that the voting process was conducted in a fair and transparent manner in compliance with the Companies Act, 2013 and SEBI regulations.

The Board of Directors believes Mr. Savla's appointment will provide focused leadership, enhance execution of business strategies, optimize operations, and boost stakeholder confidence, aligning with the company's long-term vision and objectives.