Abans Enterprises Ltd — Important, 05-02-2026: Company Update

The board approved several key changes. Mr. Anurag Kanwatia resigned as Whole-Time Director and CFO for personal reasons, effective end of February, with a successor to be appointed. Mr. Deepak Zope was appointed as an Additional Whole-Time Director for three years from early March, subject to shareholder approval, bringing extensive financial services experience. Additionally, Whole-Time Director & CEO Mr. Jinesh Savla was authorized for materiality determinations and stock exchange disclosures. The company also withdrew its proposed amalgamation with Abans Jewels Limited, citing evolving market dynamics and insufficient demonstrable benefits, a decision considered to be in the best interest of stakeholders.