Sandeep Kumar Sultania ceases to be chief financial officer of Srei Infrastructure Finance

The company has been undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016, following an order of the NCLT, Kolkata Bench.

SREI INFRA
The Reserve Bank of India (RBI) took the company's administration and appointed Rajneesh Sharma as the administrator of Srei. (File)

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.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express Telegram Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.