Mr. Chintan Natwarlal Mehta (DIN: 10375218) resigned from the position of Whole-Time Director & Chief Executive Officer effective immediately on November 11, 2026.
He ceased to be a member of all Committees of the Board and as an authorized person under Regulation 30(5) of SEBI LODR Regulations.
Mr. Mehta confirmed there is no material reason for his resignation in his resignation letter dated November 11, 2026.
Appointment of New Director
Mr. Mayank Mahesh Mundhra (DIN: 12015417) appointed as Additional Director in the capacity of Whole-Time Director, liable to retire by rotation, effective November 11, 2026.
Appointment is subject to shareholder approval at the next general meeting or within three months from date of appointment, whichever is earlier, as per Regulation 17(1C) of SEBI LODR Regulations.
Prior to this appointment, Mr. Mundhra was a Senior Management Personnel and ceased to be SMP from November 11, 2026.
Mr. Mundhra holds a Master of Management Studies (MMS) in Finance and Bachelor's degree in Engineering (EXTC) from University of Mumbai, plus Financial Risk Manager (FRM) certification from GARP.
He has over 14 years of experience at industry-leading firms in the risk management domain.
Mr. Mundhra is not related to any of the Company's Directors and is not debarred from holding director office by any SEBI Order or authority.
Revised KMP List
The revised list of Key Managerial Personnel authorized for determining materiality and making disclosures to Stock Exchanges includes:
Mr. Abhishek Bansal: Chairman & Managing Director
Mr. Mayank Mahesh Mundhra: Additional Director (Whole-Time)
Ms. Bhargavi Halapeti: Company Secretary & Compliance Officer
Mr. Raghunathan Mudaliar: Chief Financial Officer
Strategic or Business Context
New Subsidiary Incorporation
Board approved incorporation of a subsidiary/step-down subsidiary in Hong Kong.
The entity will be 100% owned by Abans Financial Services Limited.
Proposed business: Trading in securities/commodities/commodity derivatives and bullion trading business in international markets.
Consideration for subscription will be in cash, with details to be determined as per constitutional documents of the proposed subsidiary.
Governmental/regulatory approvals required as per applicable laws of Hong Kong and India.
Any Other Material Information
Board Meeting Details
Meeting held on November 11, 2026, from 06:45 PM to 07:40 PM IST.
Trading Window Closure
Trading window for dealing in company securities remains closed until 48 hours from this announcement in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.
