Abans Financial Services Appoints New Non-Executive Director, CFO, and Internal Auditors
Abans Financial Services appointed Mr. Karan Heda as Non-Executive Director and Mr. Raghunathan Mudaliar as CFO, effective May 16, 2026. M/s. V C Shah & Co. appointed as Internal Auditors for FY27. The company also changed its registered office and underwent internal senior management re-organization.
The appointment of a new CFO and Non-Executive Director, along with internal re-organization, can have a medium-term impact on the company's strategic direction and operational efficiency.
The announcement details routine management changes and operational updates, including appointments and a change of registered office, which do not inherently suggest a positive or negative financial impact.
Abans Financial Services Limited (AFSL) announced key management changes following a Board Meeting held on May 15, 2026. The Board approved the appointment of Mr. Karan Heda as an Additional Director in the capacity of Non-Executive Director, effective May 15, 2026, subject to shareholder approval. Mr. Heda, a Chartered Accountant with over 12 years of experience in financial accounting and risk management, currently serves as Vice President – Accounts & Treasury at ABANS Group.
The company also appointed M/s. V C Shah & Co., Chartered Accountants, as the Internal Auditors for the financial year 2026-27, based on the recommendation of the Audit Committee.
Furthermore, AFSL announced a change in its Registered Office within Mumbai, moving from Nariman Bhavan to Mittal Chambers at Nariman Point.
In a significant move, Mr. Raghunathan Mudaliar has been appointed as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the company, effective May 16, 2026. Mr. Mudaliar, a Chartered Accountant with over seven years of experience in NBFCs and capital markets, was previously the CFO of Abans Finance Private Limited. He succeeds Mr. Nirbhay Vassa, who resigned as Whole-Time Director & CFO effective May 15, 2026.
Additionally, the Board approved an internal re-organization of roles and responsibilities for certain Senior Management Personnel (SMPs) to align with the company's organizational requirements. This re-organization involves changes in reporting structures but not the cessation of employment for any employee. The Board meeting commenced at 9:00 PM IST and concluded at 9:45 PM IST. The trading window for the company's securities will remain closed until 48 hours after this 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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See the model portfoliosA plain-language summary of a public exchange filing by Abans Financial Services Limited. Read the original for the full detail.