Nature of Disclosure: Regulatory filing pursuant to SEBI (LODR) Regulations, 2015, specifically Regulations 30 and 51, regarding a key managerial appointment.

Key Event: The Board of Directors of Aavas Financiers Limited, via a Circular Resolution passed on September 23, 2026, approved the appointment of Mr. Nitin Rughwani as Chief Credit Officer, a Senior Managerial Personnel. The appointment is effective from September 23, 2026.

Governance Process: The appointment was made based on the recommendation of the company's Nomination and Remuneration Committee.

Appointee Details:

  • Name: Mr. Nitin Rughwani
  • New Role: Chief Credit Officer (Senior Managerial Personnel)
  • Date of Appointment: September 23, 2026
  • Term of Appointment: As per the Letter of Appointment (specific terms not quantified in disclosure).

Professional Profile: Mr. Rughwani is described as a seasoned credit and risk leader with over two decades of experience. His expertise includes driving scalable lending operations, digital credit transformation, and strategic portfolio growth across NBFCs and private banks. His specific experience includes:

  • Launching and managing high-yield retail and secured lending verticals.
  • Building high-performance credit teams.
  • Implementing AI/ML-led decision-making frameworks to enhance risk intelligence.
  • Proven delivery of portfolio profitability, regulatory compliance, and market expansion.

Previous Employment: He has held senior leadership positions at:

  • Shriram Finance Limited
  • Yes Bank Limited
  • Tata Capital Limited

Qualifications: He is a member of the Institute of Chartered Accountants of India (ICAI) and holds a Bachelor of Commerce (B.Com) degree from Delhi University.

Regulatory References: The disclosure is made under:

  • SEBI (LODR) Regulations, 2015: Regulation 30 and Regulation 51 read with Schedule III.
  • SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Other Information:

  • The time of the event was 05:27 P.M. (IST).
  • The disclosure was signed by Mr. Saurabh Sharma, Company Secretary & Compliance Officer (ACS-60350).
  • The information will be made available on the company's website at www.aavas.in.

Financial Impact: No financial impact, quantification of remuneration, or capital structure implications are disclosed in the filing.