This disclosure to the National Stock Exchange of India Limited and BSE Limited provides outcomes from the 16th Annual General Meeting (AGM) of Aavas Financiers Limited held on September 16, 2026, via Video Conferencing/Other Audio-Visual Means. The Scrutinizer's Report was received by the Company on September 17, 2026, at 05:40 P.M., confirming all business items were approved by members with requisite majority.

Key AGM Outcomes:

  • Re-appointment of Mr. Nikhil Omprakash Gahrotra (DIN: 01277756) as Non-Executive Nominee Director, liable to retire by rotation.
  • Re-appointment of Mrs. Neha Sureka (DIN: 10759936) as Non-Executive Nominee Director, liable to retire by rotation.
  • Ratification and confirmation of payment of remuneration to Mr. Sachinderpalsingh Jitendrasingh Bhinder (DIN: 08697657), former Managing Director and Chief Executive Officer.
  • Appointment of Mr. Vivek Anant Karve (DIN: 06840707) as an Independent Director.
  • Appointment of Mr. Vellur Gopalaraghavan Kannan (DIN: 03443982) as an Independent Director.

Director Eligibility:

All appointed directors (Mr. Gahrotra, Mrs. Sureka, Mr. Karve, and Mr. Kannan) have not been debarred from holding office by virtue of any SEBI order or other authority, per BSE circular no. LIST/COMP/14/2018-19 dated June 20, 2018, and NSE circular ref. no. NSE/CML/2018/24 dated June 20, 2018.

Capital Raising Authorization:

The Board of Directors is authorized to offer, issue, and allot Listed/Unlisted Non-convertible Debentures (NCDs), including subordinate debentures, bonds, and other debt securities, for an amount not exceeding ₹9,000 crore (Rupees nine thousand crore only) on a private placement basis. This authorization is valid for one year from the date of the AGM (until September 15, 2027).

Director Profile Details (Annexure-A):

Mr. Vivek Anant Karve:

  • Appointment regularized as Non-Executive Independent Director effective June 23, 2026.
  • Term: Five consecutive years, not liable to retire by rotation.
  • Qualifications: Chartered Accountant, Cost Accountant, B.Com from University of Bombay.
  • Professional Experience: Over 30 years across Consumer Products, IT services, and Financial Services.
  • Previous Organizations: P&G, ICICI, Siemens Information Systems, Marico Ltd. (20 years, last 6 as Group CFO), and Mahindra & Mahindra Financial Services Ltd. (CFO of Financial Services Sector).
  • Current Directorships: Independent Director on boards of Suryoday Small Finance Bank, Kaya Limited, Niva Bupa Health Insurance Co Limited, and Eternis Fine Chemicals Limited.
  • Not related to any other director of the Company.

Mr. Vellur Gopalaraghavan Kannan:

  • Appointment regularized as Non-Executive Independent Director effective August 1, 2026.
  • Term: Five consecutive years, not liable to retire by rotation.
  • Professional Background: Seasoned banking professional with over 40 years in BFSI sector.
  • Career: Joined State Bank of India (SBI) as Probationary Officer in 1978, progressed to Managing Director overseeing domestic subsidiaries and associate banks until July 2016. Previously MD & CEO of SBI Capital Markets Ltd.
  • Key Roles: Chief General Manager – Mid Corporate Group (managed funded assets exceeding ₹1.80 trillion), Head of Forex & Money Markets at SBI Central Treasury and SBI Hong Kong, Network General Manager Chennai, AGM (Fixed Income Markets) at SBI Corporate Treasury Mumbai.
  • Led successful merger of SBI's five Associate Banks with SBI. Post-retirement served as Chief Executive of Indian Banks' Association (December 2016 to December 2019) and advisor to an international investment fund (November 2019 to March 2023).
  • Committee Roles: Chaired RBI-appointed Committee on ATM Interchange Fees (2019), Member of RBI Committee on Creation of Secondary Market for Corporate Loans (2018), Permanent External Expert Member of Regulatory Oversight Committee of NSE (2018-2024).
  • Not related to any other director of the Company.

Additional Information:

The disclosure is made pursuant to SEBI (LODR) Regulations, 2015, Regulation 30 read with Schedule III, and SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Details are available on the company website at www.aavas.in.