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 15 & 16, 2026, respectively. M/s. V C Shah & Co. appointed as Internal Auditors for FY26-27. The company also changed its registered office and underwent internal re-organization of Senior Management Personnel.
The appointment of key personnel like a new CFO and Non-Executive Director, along with changes in the registered office and internal re-organisation, can have a medium-term impact on the company's governance, operations, and strategic direction.
The announcement details routine corporate actions such as appointments and changes in office location, which do not inherently indicate a positive or negative shift in the company's performance or outlook.
Abans Financial Services Limited (AFSL) announced a series of key appointments and changes following its Board Meeting held on May 15, 2026. Mr. Karan Heda has been appointed 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 treasury, will also cease to be part of the Senior Management Personnel.
The company has also appointed M/s. V C Shah & Co., Chartered Accountants, as its Internal Auditors for the financial year 2026-27, effective May 15, 2026. Furthermore, Mr. Raghunathan Mudaliar has been appointed as the Chief Financial Officer (Key Managerial Personnel) of the company, effective May 16, 2026. Mr. Mudaliar, also a Chartered Accountant, brings over seven years of experience across NBFCs and capital markets.
In line with these changes, Mr. Nirbhay Vassa has been relieved of his duties as Whole-Time Director & Chief Financial Officer, effective May 15, 2026. Mr. Raghunathan Mudaliar has been designated as the Key Managerial Personnel for disclosures under Regulation 30(5) of SEBI LODR Regulations.
The company also approved an internal re-organisation of roles and responsibilities for certain Senior Management Personnel, effective May 15, 2026, which has resulted in changes to reporting structures but not the cessation of employment for any employee. Additionally, the registered office of the company has been changed within Mumbai, from Nariman Bhavan to Mittal Chambers, effective May 15, 2026.
The Board Meeting commenced at 09:00 PM IST and concluded at 09:45 PM IST. The trading window for dealing in the company's securities will remain closed until 48 hours from this announcement.
What to do with a filing like this
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.