“Sandeep Kumar Sultania has ceased to hold a new role within the Company with effect from the end of business hours of December 7, 2021, as Chief Financial Officer of the Company,” Srei said in a regulatory filing.
The company is going through a corporate phase bankruptcy resolution process under insolvency and bankruptcy code, 2016, following an order of the National Company Law Tribunal, Kolkata Bench dated 8 October, 2021.
reserve Bank of India (reserve Bank of India) took over the administration of the company and appointed Rajneesh Sharma as the administrator of Srei.
It states that after the appointment of an administrator, the powers of the board of directors of the company are suspended and such powers shall be exercised by the administrator.
“In exercise of the powers vested with the Administrator under the IBC Code, the Administrator has appointed Manoj Kumar, presently the Company Secretary of the Company, as the Chief Financial Officer (CFO) of the Company with effect from December 8, 2021. has been designated as the Company Secretary-cum-Chief Financial Officer of the Company.”
On Wednesday, the company’s shares closed at Rs 5.15, up 1.98 per cent on the BSE.