Mr. Vivek Anant Karve (DIN: 06840707) appointed as Additional Director in the capacity of Non-Executive Independent Director
Appointment effective from June 23, 2026 for a term of five consecutive years
Appointment subject to approval of shareholders of the Company
Not liable to retire by rotation
Qualifications and Experience of New Director
Chartered Accountant, Cost Accountant and B.Com from University of Bombay
Over 30 years of professional experience across Consumer Products, IT services and Financial Services sectors
Previously worked with P&G, ICICI, Siemens Information Systems, Marico Ltd., and Mahindra & Mahindra Financial Services Ltd.
Worked with Marico Ltd. for about 20 years (October 2000 to September 2020), last 6 years as Group Chief Financial Officer
Last stint as Chief Financial Officer of Financial Services Sector at Mahindra & Mahindra Financial Services Ltd., responsible for leading finance function spanning home finance, vehicle, insurance broking and mutual fund AMC
Currently serves as Independent Director on Boards of Suryoday Small Finance Bank, Kaya Limited, Niva Bupa Health Insurance Co Limited and Eternis Fine Chemicals Limited
Director Relationships
Mr. Vivek Anant Karve has no relationship with any Director of the Company
Not debarred from holding office of director by virtue of any SEBI or other authority order
Completion of Tenure
Mrs. Kalpana Kaushik Mazumdar (DIN: 01874130) completes tenure as Non-Executive Independent Director
Tenure completion effective from close of business hours on June 22, 2026
Consequently ceases to be Non-Executive, Independent Director of the Company
Also ceases to be Chairperson of Audit Committee and Member of Corporate Social Responsibility & ESG Committee
Board Appreciation
Board of Directors and Management place on record sincere appreciation for valuable contributions, guidance and services rendered by Mrs. Kalpana Kaushik Mazumdar during her tenure
Company benefited from her extensive expertise and leadership
Reconstitution of Committees
Audit Committee Composition (Effective June 23, 2026)
Mr. Vivek Anant Karve - Chairperson (Independent Director)
Mr. Sandeep Tandon - Member (Independent Director)
Mrs. Soumya Rajan - Member (Independent Director)
Mr. Nikhil Omprakash Gahrotra - Member (Non-Executive Nominee Director)
Corporate Social Responsibility & ESG Committee Composition (Effective June 23, 2026)
Mr. Nikhil Omprakash Gahrotra - Chairperson (Non-Executive Nominee Director)
Mr. Vivek Anant Karve - Member (Independent Director)
Mr. Rohit Ranjan - Member (Non-Executive Nominee Director)
Compliance Information
Additional Information
Information available on company website: https://www.aavas.in/
Disclosure signed by Saurabh Sharma, Company Secretary & Compliance Officer (ACS-60350)
