Srei Infrastructure Finance on Wednesday said Sandeep Kumar Sultania has ceased to be the company’s chief financial officer (CFO).
“Sandeep Kumar Sultania has ceased to be the chief financial officer of the company with effect from close of business hours of December 7, 2021, to take up a new role within the company,” Srei said in a regulatory filing.
The company has been undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016, following an order dated October 8, 2021, of the National Company Law Tribunal, Kolkata Bench.
The Reserve Bank of India (RBI) took the company’s administration and appointed Rajneesh Sharma as the administrator of Srei.
Pursuant to the appointment of the administrator, the powers of the company’s board of directors stand suspended and such powers shall be exercised by the administrator, it said.
“In exercise of the powers vested with the administrator under the IBC Code, the administrator has appointed Manoj Kumar, currently the company secretary of the company, as the chief financial officer (CFO) of the company with effect from December 8, 2021, being designated as the company secretary-cum-chief financial officer of the company,” it added.
The company’s shares on Wednesday closed 1.98 per cent up at Rs 5.15 apiece on the BSE.