Usha Martin’s Prashant Jhawar resigns

By: |
Published: September 15, 2019 1:38 AM

“I have been raising red flags for a while now, and all of my warnings have fallen on deaf ears,” Prashant Jhawar said in his letter.

Usha Martin, Prashant Jhawar, Prashant Jhawar resigns, Prashant Jhawar resignation, board of directorsIn a stock exchange filing on Saturday, Usha Martin said, “Prashant Jhawar ceases to be a director of the company.”

Usha Martin (UML) non-executive director Prashant Jhawar has tendered his resignation from the company’s board with immediate effect, alleging “mismanagement of the company”. In a stock exchange filing on Saturday, Usha Martin said, “Prashant Jhawar ceases to be a director of the company.”

In his letter to the board of directors of UML, Prashant Jhawar alleged the extent of “mismanagement of the company and the apparent apathy of the board of directors” was alarming, including shielding the “illegal acts” of managing director Rajeev Jhawar.

“I have been raising red flags for a while now, and all of my warnings have fallen on deaf ears,” Prashant Jhawar said in his letter.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, 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 is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Edtech unicorn Byju’s acquires online coding platform WhiteHat Jr; to expand US business
2Samsung Galaxy Watch 3, Galaxy Buds Live launched alongside Galaxy Note 20, Galaxy Note 20 Ultra
3HDFC sets floor price at Rs 1,838.94 a share for QIP issue