Business

Shrei CEO Rakesh Bhutoria resigns

Shrei CEO Rakesh Bhutoria resigns
Written by admin
Shrei CEO Rakesh Bhutoria resigns

Shrei CEO Rakesh Bhutoria resigns

New Delhi, Sep 14 (PTI) Kolkata-based non-banking financial company (NBFC) Shree Infrastructure has suffered another blow. The company’s chief executive officer (CEO) Rakesh Kumar Bhutoria has resigned. Sources said this on Tuesday

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.

#Shrei #CEO #Rakesh #Bhutoria #resigns

READ Also  Here’s what happened in the markets today.

About the author

admin

Leave a Comment