Aavas Financiers Limited (NSE: AAVAS | BSE: 541988)

Introduction

On 19 June 2026, Aavas Financiers Limited filed an intimation with the National Stock Exchange of India and BSE under Regulation 30 and 51 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The filing details changes to the Board of Directors and the composition of two key committees.

Key Board and Committee Changes

1. Appointment of an Additional Director

• Director: Mr. Vivek Anant Karve (DIN 06840707)
• Role: Non‑Executive Independent Director (Additional Director)
• Effective date: 23 June 2026
• Term: Five consecutive years, not liable to retire by rotation, pending shareholder approval.
• Profile Highlights:
  • Chartered Accountant, Cost Accountant, B.Com (University of Bombay) with > 30 years of experience across Consumer Products, IT services, and Financial Services.
  • Former Group CFO of Marico Ltd. (2000‑2020) and CFO of Mahindra & Mahindra Financial Services Ltd.
  • Currently serves as Independent Director on the boards of Suryoday Small Finance Bank, Kaya Limited, Niva Bupa Health Insurance Co. Ltd., and Eternis Fine Chemicals Ltd., holding several committee chairmanships.
• Disclosure: No relationship with existing directors; not debarred under any SEBI order.

2. Completion of Tenure of an Existing Director

• Director: Mrs. Kalpana Kaushik Mazumdar (DIN 01874130)
• Role: Non‑Executive Independent Director (ceased 22 June 2026)
• Additional Positions Relinquished:
  • Chairperson, Audit Committee
  • Member, Corporate Social Responsibility & ESG Committee
• Board Note: The Board expressed appreciation for her contributions and leadership during her tenure.

3. Reconstitution of Committees (effective 23 June 2026)

Audit Committee

Corporate Social Responsibility & ESG Committee

Regulatory Compliance

• The changes comply with the Companies Act 2013 and SEBI Listing Regulations (Regulation 30, Schedule III, and relevant Master Circulars).
• Details are disclosed in annexures as required under SEBI LODR and will be posted on the company’s website www.aavas.in.

Investor Takeaway

• Board Strengthening: The addition of a seasoned finance professional, Mr. Karve, enhances the Board’s expertise, particularly in financial oversight and risk management.
• Committee Leadership: Mr. Karve assumes chairmanship of the Audit Committee, while Mr. Gahrotra leads the CSR & ESG Committee, ensuring continuity in governance functions.
• No Immediate Financial Impact: The announcement pertains solely to director appointments and committee reconstitution; no financial metrics, guidance, or material transactions are disclosed.

The information above reflects the content of the filing dated 19 June 2026 and is intended for investor reference.