Shrei CEO Rakesh Bhutoria resigns
The company is currently in the process of debt relief. The lockdown during the Covid-19 epidemic had a serious impact on the company’s financial position.
Subsequently, the lenders took possession of the company’s finances to recover their arrears. As a result, a large number of people from the Srei group came out. Delay in salary has become a common thing in the company. The salary cap for top executives of the company has been fixed at Rs 50 lakh per annum.
Sources familiar with the matter said, “CEO Rakesh Kumar Bhutoria has resigned. The company’s top employees are considering legal options to recover their overdue salaries. Banks have prevented this through regulation on trust and retention accounts (TRAs).
Bhutoria’s last working day has not yet been decided. Sources said that the company has appointed a ‘headhunter’ to find a new CEO.
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