Abans Holdings appoints former Sebi ED Nagpal as independent director
1 min read . Updated: 22 Feb 2023, 04:15 PM IST
PremiumPK Nagpal retired from market regulator Securities and Exchange Board of India (Sebi) as executive director
Abans Holdings on Wednesday announced that it has appointed PK Nagpal as a non-executive and independent director in the company.
PK Nagpal retired from market regulator Securities and Exchange Board of India (Sebi) as executive director. He was involved in policy formulation and implementation of regulations registration, supervision and inspection of market intermediaries and stock exchanges.
He was also involved in investigation of market manipulation and insider trading, takeovers, IPOs, compliance of listing requirements, corporate governance and quasi-judicial functions.
PK Nagpal has served as the Chairperson of Committees of International Organization of Securities Commissions (IOSCO) on issuer accounting, audit, and disclosures, comprising of 33 countries.
"We are pleased to share that 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," said Abhishek Bhansal, Managing Director, Abans Holdings Ltd.
Abans Holdings Ltd, a globally diversified financial services organisation, reported a consolidated revenue of ₹591.17 crores, showing an annualised growth of 21.97 per cent compared to the previous year.
In Q3FY23 results Abans Holding's asset management and brokerage business recorded Consolidated Profit Before Tax (PBT) at ₹8.74 crores (for nine month Period Apr-Dec 22), which translates to a significant annualised growth of 148.78 per cent.
The company's scrip was trading 1.18% down at ₹239 on BSE.