ANNUAL REPORT 2022-23

Board of Directors

Mr. Abhishek Bansal

Chairman and Managing Director

Mr. Bansal assumed his distinguished role on the Board of our esteemed Company upon its inception on September 24, 2009. His academic journey led him through the hallowed halls of the University of Mumbai, where he earned both his Bachelor's and Master's degrees in Commerce in 2007 and 2009, respectively. The visionary founder of the Abans Group, Mr. Bansal’s indomitable spirit has forged an unparalleled legacy.

Under his visionary stewardship, the Abans Group has transcended its origins as a trading house, blossoming into an icon of diversified excellence. A maestro orchestrating a symphony of achievements, he has sculpted the Group into an epitome of diversified brilliance. The spectrum of our triumphs now extends across the tapestry of broking services, non-banking financial dealings, financial services, agri-commodity expertise, and a footprint in asset management services also growing into a quasi-bank by achieving remittance license in the UK.

Currently, he occupies the pinnacle of responsibility, masterminding the holistic management and intricate affairs of our Company and the entire Abans Group. His visionary acumen guides the curation of investment strategies, the creation of expansive networks for pioneering business ventures, and the holistic development of our Company. His leadership is the North Star of our journey, illuminating pathways of prosperity, innovation, and holistic advancement.

Mr. Nirbhay Vassa

Whole-Time Director

Mr. Vassa joined our Company’s Board on August 2, 2021. He’s been part of our Group since 2019 and later became a Director of our Company. He also took on the role of CFO starting August 3, 2021.

A key member of our Group since 2019, he quickly became a Director of our Company.

His educational foundation is strong, earning a Bachelor’s degree in Applied Accounting from Oxford Brookes University in 2010. In 2016, he became a Member of the Association of Chartered Certified Accountants.

With over a decade of experience, he’s shown dedication to finance, accounting, operations, supply chain, and human resources. He has worked with well-known organisations like the Embassy Group, Deloitte Haskins & Sells, and Tesco PLC.

As our CFO, he strategically aligns business plans to achieve accounting, compliance, and revenue goals. He’s adept at enhancing cash flow, retiring debt, and fortifying cash reserves while maintaining cost controls.

His collaboration with audit teams ensures meticulous account preparation and documentation, in line with regulatory standards.

A master of financial precision, he guides our financial journey towards new heights. His legacy as CFO is marked by strategic leadership, financial prowess, and unwavering commitment.

Mr. Shivshankar Singh

Non-Executive Director

He assumed his esteemed position on our Company’s Board from January 15, 2021. A seasoned veteran in the field of technology, he earned his Diploma in Industrial Electronics from the Maharashtra Board of Technical Examinations in 1989. Since joining our Group in 2016, he rapidly ascended the ranks to become a Director of our esteemed Company, a testament to his exceptional prowess.

With nearly three decades of experience, his journey has been marked by profound expertise in a myriad of domains. From infrastructure management to ISMS development and implementation, he has overseen the intricate facets of facilities management, led techno-commercial evaluations, spearheaded new technology initiatives, orchestrated DR/BCP management, maintained SLA adherence, driven server/storage consolidation, and adeptly managed teams.

Throughout his illustrious career, he has made significant contributions to organisations such as Capstrat Consultancy Services, ICEX Ltd, BSE Ltd., and ONGC. His diverse experiences have enabled him to master the art of bridging technology with business objectives.

In addition to his exceptional technological acumen, his partnership with technology teams has ensured the seamless alignment of technological strategies with organisational goals. He stands as a catalyst for the integration of cutting-edge solutions and technology-driven innovation across our operations.

His tenure as Director and his integral role in the realms of technology personify a dedication to excellence and a commitment to enhancing our digital landscape. With his leadership, we continue to chart a path of technological advancement and operational efficiency, setting new benchmarks for success.

Mr. Parmod Kumar Nagpal

Independent Director

He was appointed on the Board of our Company w.e.f. February 14, 2023.

Mr. Nagpal is an MBA and Bachelor in Law with Banking, Insurance and Securities Law.

He has worked with Securities Exchange Board of India (SEBI) for about 31 years and was Chief General Manager for 6 years and Executive Director for almost 13 years, before retirement in December 2019.

While his association with SEBI, he worked in all operational departments of SEBI viz. corporate finance, market regulation, mutual funds, venture capital funds, market intermediaries, investigation and foreign portfolio investors.

He was also involved in policy formulation and implementation of regulations, registration and supervision of market intermediaries, investigation of market manipulation and insider trading, takeovers, IPOs, compliance of listing requirements by the companies, and corporate governance

While working with SEBI, he was assigned additional responsibilities of Director of its training institute - National Institute of Securities Markets (NISM) and CEO of Central Listing Authority. He was nominated on the boards of 3 stock exchanges and NISM.

Mr. Apoorva Vora

Independent Director

He was appointed on the Board of our Company w.e.f. February 14, 2023.

Mr. Vora is a law graduate and an MBA in (Marketing). He possesses certification in financial planning and Alternative Investment Management.

His professional experience & exposure spans across information technology (about 10 years) and financial services and startups (over 25 years running) in various capacities.

Currently active as Founder & CEO of a business consulting firm for wealth management firms, he plays a consulting role for wealth managers for their better product outreach. The firm is particularly active in the Alternative Investment Fund space and has been instrumental in channelising significant asset-based for such AIFs for Indian as well as overseas funds.

Within the financial services space, he has worked across distribution, portfolio management, merchant banking, business development, private equity & investment management, product management, EB5 Investing, Alternative Investment Strategies etc.

Ms. Ashima Chhatwal

Independent Director

She was appointed on the Board of our Company w.e.f. July 12, 2021. She became a member of the Institute of Company Secretaries of India in 2017 and a Law graduate in 2021. She has more than 4 years of experience in the field of internal audit, legal matters, corporate commercial transactions, corporate governance practices, policy making, special projects, secretarial laws, due diligence, and other compliances. She has worked with Bharti Airtel Ltd., HCL Technologies Ltd., AZB & Partners and Navalji Cotspin Ltd. Currently, she is works with a legal firm as a senior consultant.