AFSL Appoints Karan Heda as Non-Executive Director, Raghunathan Mudaliar as CFO
Abans Financial Services Limited appointed Karan Heda as Non-Executive Director and Raghunathan Mudaliar as CFO, effective May 16, 2026. M/s. V C Shah & Co. appointed as Internal Auditors for FY27. The company also relocated its registered office. Mr. Nirbhay Vassa resigned as CFO.
Key management changes and director appointments can have a medium-term impact on company strategy and governance.
The appointment of new directors and key management personnel, along with the appointment of internal auditors, indicates positive corporate actions and strengthening of the management team.
Abans Financial Services Limited (AFSL) announced several key appointments and changes following a Board Meeting held on May 15, 2026. Mr. Karan Heda (DIN: 07032035) 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 risk management, currently serves as Vice President – Accounts & Treasury at ABANS Group.
The company also appointed M/s. V C Shah & Co. as its Internal Auditors for the financial year 2026-27. 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 with over seven years of experience in NBFCs and capital markets, previously served as CFO at Abans Finance Private Limited.
In other changes, Mr. Nirbhay Vassa has ceased to be Whole-Time Director & Chief Financial Officer effective May 15, 2026. The company's registered office has also been relocated within Mumbai from Nariman Bhavan to Mittal Chambers at Nariman Point.
Additionally, an internal re-organization of roles and responsibilities for certain Senior Management Personnel (SMP) was approved, leading to changes in reporting structures but not involving any employee terminations. The Board Meeting commenced at 9:00 PM IST and concluded at 9:45 PM IST. 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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See the model portfoliosA plain-language summary of a public exchange filing by Abans Financial Services Limited. Read the original for the full detail.