Abans Financial Services Appoints New CFO, Director; Relocates Office
Abans Financial Services appointed Mr. Karan Heda as Non-Executive Director and Mr. Raghunathan Mudaliar as CFO, effective May 15 & 16, 2026, respectively. The company also changed its registered office and appointed new internal auditors for FY27. Mr. Nirbhay Vassa resigned as CFO.
The appointment of a new CFO and a Non-Executive Director, along with internal re-organization and a change in registered office, are significant operational and governance changes that can impact the company's strategic direction and management structure.
The announcement details routine organizational changes including appointments and a resignation, as well as a change in registered office. These events are standard corporate actions and do not inherently suggest a positive or negative shift in the company's performance or outlook.
Abans Financial Services Limited (AFSL) announced significant organizational changes following a Board of Directors meeting held on May 15, 2026.
Mr. Karan Heda has been appointed as an Additional Director in a Non-Executive capacity, effective May 15, 2026. Mr. Heda is a Chartered Accountant with over 12 years of experience in financial accounting, treasury, risk management, and strategic financial planning, currently serving as Vice President – Accounts & Treasury at ABANS Group.
The company also appointed M/s. V C Shah & Co., Chartered Accountants, as Internal Auditors for the financial year 2026-27, effective May 15, 2026.
AFSL has changed its registered office within Mumbai. The new address is 13A/B/C, 1st Floor, Mittal Chambers, Barrister Rajni Patel Marg, Nariman Point, Mumbai - 400021, from its previous location at 36, 37, 38A, Floor 3, Nariman Bhavan, Backbay Reclamation, Nariman Point.
Furthermore, Mr. Raghunathan Mudaliar has been appointed as the Chief Financial Officer (Key Managerial Personnel) of the company, effective May 16, 2026. Mr. Mudaliar, a Chartered Accountant, brings over seven years of experience across NBFCs, capital markets, and real estate, and was previously CFO of Abans Finance Private Limited.
Mr. Nirbhay Vassa has resigned as Whole-Time Director & Chief Financial Officer, with his last day being May 15, 2026. Consequently, Mr. Raghunathan Mudaliar has been designated as the Key Managerial Personnel under Regulation 30(5) of SEBI LODR Regulations.
An internal re-organization of roles and responsibilities for certain Senior Management Personnel (SMP) was also approved, effective May 15, 2026. This re-organization has led to changes in the reporting structure of employees such as Mr. Mahesh Kumar Chervuveedu, Mr. Ketur Shah, Mr. Bhavesh Suthar, and Mr. Jignesh Shah, without resulting from any resignation or termination.
The Board meeting commenced at 9:00 PM IST and concluded at 9:45 PM IST on May 15, 2026. The trading window for dealing in the company's securities will remain closed until 48 hours from the announcement.
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Abans Financial Services Limited filed this with the NSE as a statutory disclosure, categorised under key management changes. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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