Aavas Financiers Limited has announced key decisions following its 16th Annual General Meeting (AGM). The company has approved the re-appointment of two Non-Executive Nominee Directors, Mr. Nikhil Omprakash Gahrotra and Mrs. Neha Sureka, and the appointment of two new Independent Directors, Mr. Vivek Anant Karve and Mr. Vellur Gopalaraghavan Kannan. Additionally, the Board received authorization to raise funds up to ₹9,000 crore through the issuance of Non-convertible Debentures (NCDs) on a private placement basis.
Key Board Appointments and Authorizations
Aavas Financiers Limited disclosed significant corporate actions subsequent to its 16th Annual General Meeting (AGM), held on Wednesday, September 16, 2026. The Scrutinizer’s Report, received on September 17, 2026, confirmed that all business items presented at the AGM were approved by the members with the requisite majority.
Director Re-appointments and New Appointments
The company announced the re-appointment of two Non-Executive Nominee Directors: Mr. Nikhil Omprakash Gahrotra (DIN: 01277756) and Mrs. Neha Sureka (DIN: 10759936). Both directors, having retired at the AGM and being eligible, have been re-appointed and are liable to retire by rotation.
Furthermore, the Board approved the appointment of two new Independent Directors: Mr. Vivek Anant Karve (DIN: 06840707) and Mr. Vellur Gopalaraghavan Kannan (DIN: 03443982). The profiles of Mr. Karve and Mr. Kannan highlight extensive experience in financial services, banking, and leadership roles. Both individuals have been confirmed not to be debarred from holding directorships by any SEBI order.
Remuneration Ratification and Fundraising Authorization
The payment of remuneration to the former Managing Director and Chief Executive Officer, Mr. Sachinderpalsingh Jitendrasingh Bhinder (DIN:08697657), has also been ratified and confirmed.
In a significant financial move, the Board of Directors has been authorized to offer, issue, and allot Non-convertible Debentures (NCDs), including subordinate debentures and bonds, for an amount not exceeding ₹9,000 crore. This fundraising activity will be conducted on a private placement basis over a period of one year from the date of the AGM, extending up to September 15, 2027.
Source: BSE
