Abans Holdings Limited, a diversified Sri Lankan conglomerate with a strong presence in the retail, consumer electronics, and financial services sectors, has announced the appointment of Mr. PK Nagpal as an Additional Director (Non-Executive & Independent). Mr. Nagpal is a retired Executive Director of the Securities and Exchange Board of India (SEBI) and brings with him a wealth of experience in the securities markets.
Mr. Nagpal has had a long and illustrious career in SEBI, where he worked in all operational departments and was involved in policy formulation and implementation of regulations, registration, supervision, and inspection of market intermediaries and stock exchanges, investigation of market manipulation and insider trading, takeovers, IPOs, compliance of listing requirements, corporate governance, and quasi-judicial functions.
The appointment of Mr. Nagpal is a significant addition to the board of directors of Abans Holdings Limited, as he brings with him a wealth of knowledge and expertise in the securities markets. His vast experience in policy formulation and implementation of regulations, as well as his understanding of the complexities of the securities markets, will undoubtedly prove invaluable to the board in guiding the company’s growth and expansion plans.
Speaking on his appointment, Mr. Nagpal said, “I am honored to join the board of directors of Abans Holdings Limited, and I look forward to working with the management and board in advancing the company’s strategic objectives. I believe that my experience and knowledge in the securities markets can add value to the company, and I am excited about the opportunity to contribute to the company’s growth and success.”
Mr. Abhishek Bhansal, Managing Director, Abans Holdings Limited, said, “We are pleased to share that Mr. Nagpal has joined our board as an Independent Director. His vast experience in the securities industry and deep knowledge of policy formulation and implementation of regulations will be invaluable to Abans as we continue to grow and expand our business.”
The company recently announced a renewed our focus on asset management business and will be making significant investments to enhance this business vertical. The growth would be driven by expanding the AUM through a distribution network and offering MLD (market linked debentures), offshore investments and other investment products. The company reported consolidated revenue of INR 591.17 Crores, representing a remarkable annualised growth of 21.97% YoY.
Mr. Nagpal’s appointment as an Independent Director also underscores Abans Holdings Limited’s commitment to corporate governance and transparency. The appointment of independent directors is a crucial aspect of good corporate governance, and it helps to ensure that the board operates in the best interests of the company’s shareholders.
The appointment of Mr. PK Nagpal as an Additional Director (Non-Executive & Independent) of Abans Holdings Limited is a significant development that underscores the company’s commitment to good corporate governance and transparency. Mr. Nagpal’s vast experience and knowledge in the securities markets will undoubtedly prove invaluable to the board in guiding the company’s growth and expansion plans. His appointment also highlights the company’s efforts to attract the best talent and expertise to its board of directors, which bodes well for the company’s future growth and success.
