Key Resolutions for Shareholder Approval

1. Ordinary Resolution: To appoint Mr. Ankit Joshi (DIN: 10799583) as a Director of the Company liable to retire by rotation.

2. Special Resolution: To approve the appointment of Mr. Ankit Joshi as Whole-Time Director for 3 years and approve his remuneration.

Appointment Details

  • Appointee: Mr. Ankit Joshi (DIN: 10799583)
  • Designation: Whole-Time Director (in addition to his role as Chief Financial Officer)
  • Term: 3 years, effective from May 12, 2026 to May 11, 2029
  • Remuneration: Maximum ₹25,00,000 per annum (may be drawn from company or subsidiaries)
  • Employee Stock Options, if any, would be in addition to this remuneration
  • No sitting fees for board/committee meetings

Background of Appointment

  • Initially appointed as Additional Director (Whole-Time) by Board resolution on May 12, 2026
  • Currently serves as Chief Financial Officer since April 01, 2026 (KMP under Section 203 of Companies Act)
  • Shareholder approval required under Regulation 17(1C) of SEBI LODR Regulations within 3 months of appointment
  • Company received notice from a member under Section 160(1) of Companies Act proposing his candidature

Qualifications and Experience of Mr. Ankit Joshi

  • Education: MBA (Finance) from University of Pune, B.Com from University of Mumbai
  • Currently pursuing ACCA certification
  • 8+ years experience in capital markets with expertise in equity, currency, and commodity derivatives
  • Currently leads broking entities in Abans Group, responsible for financial planning, hedging strategies, and regulatory compliance
  • Previous experience: Consultant at Protiviti India Private Limited, accounting roles at Pioneer Trading Corporation

Director Profile

  • Date of Birth: March 08, 1992 (Age: 34 years)
  • Current Directorships in other companies:
  • Abans Agri Warehousing & Logistics Private Limited
  • Lifesurge Trading Private Limited
  • Clamant Broking Services Private Limited
  • Abans Commodities (I) Private Limited
  • No directorships in listed entities
  • No shareholding in Abans Enterprises Limited
  • Not related to any other director or KMP of the company

Voting Arrangements

  • Cut-off Date: Friday, July 03, 2026 (for determining voting eligibility)
  • Voting Period: Saturday, July 11, 2026 (9:00 AM IST) to Sunday, August 09, 2026 (5:00 PM IST)
  • Voting Method: Remote e-voting only through NSDL platform
  • Results Declaration: By Tuesday, August 11, 2026 (within 2 working days of voting conclusion)
  • Scrutinizer: Ms. Rachana Shanbhag (Membership No FCS 8227/CP 9297), Partner of M/s. D. A. Kamat & Co.

Document Distribution

  • Notice sent only electronically to members with registered email addresses
  • Physical copies not dispatched
  • Notice available on company website (www.abansenterprises.com), NSDL website (www.evoting.nsdl.com), and stock exchange websites (BSE and MSEI)
  • Public notice published in one Marathi newspaper (Mumbai) and one English newspaper (nationwide)

Financial Context

  • Company's standalone financial performance for FY 2025-26:
  • Revenue from Operations: ₹6,51,039.84 lakhs
  • Profit before Tax: ₹627.28 lakhs
  • Profit after Tax: (₹794.83 lakhs) [Loss]
  • Remuneration approval includes provision for payment during loss/inadequate profits subject to Schedule V compliance

Additional Requirements for Shareholders

  • Members must update PAN, KYC details, nomination, and bank details with Depository Participants (demat) or RTA (physical)
  • Mandatory dematerialization for all service requests including transfer, transmission, transposition
  • Dividend payments for physical shareholders only through electronic mode effective April 1, 2024