AAVAS Financiers’ board has approved key appointments, including the regularization of several Non-Executive Nominee Directors for a 5-year term and a revision in the remuneration of the Managing Director & CEO. Additionally, the appointment of M/s. Chandrasekaran Associates as Secretarial Auditors for a 5-year period was approved. The board also authorized the issuance of Non-Convertible Debentures up to ₹8,500 crore.
Director Appointments
The board approved the regularization of several Non-Executive Nominee Directors, each for a term of 5 years:
- Mr. Elcid Vergara (DIN: 10769790)
- Mr. Anant Jain (DIN: 06648006)
- Mr. Nikhil Omprakash Gahrotra (DIN: 01277756)
- Mrs. Neha Sureka (DIN: 10759936)
- Mr. Siddharth Tapaswin Patel (DIN: 07803802)
Executive Compensation
The board approved a revision in the remuneration of Mr. Sachinderpalsingh Jitendrasingh Bhinder (DIN: 08697657), the Managing Director & Chief Executive Officer of the Company.
Appointment of Secretarial Auditors
M/s. Chandrasekaran Associates, Practicing Company Secretaries, have been appointed as Secretarial Auditors for a period of 5 consecutive years, effective from Financial Year 2025-26 to Financial Year 2029-30.
Debt Issuance Approval
The board has authorized the issuance of Non-convertible Debentures (NCDs) for up to ₹8,500 crore on a private placement basis. This authorization is valid for one year from the date of the AGM, until September 15, 2026.
Equity Stock Option Plan 2025
The board has approved the ‘Aavas Financiers Limited – Equity Stock Option Plan 2025’ (“ESOP – 2025”), for up to 23,74,191 equity shares with a face value of ₹10 each.
Source: BSE
