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5paisa Capital Clarifies Resignation of Chief Risk Officer Yashpal Chopra
Team Finance Saathi
17/Dec/2024
What's covered under the Article:
- 5paisa Capital submits a fresh announcement regarding the resignation of Yashpal Chopra, Chief Risk Officer.
- The resignation was effective from December 2, 2024, and related to pursuing career opportunities outside the company.
- The company clarified missing details in the original announcement and assured full compliance with SEBI regulations.
5paisa Capital Limited has issued a clarification regarding the resignation of Mr. Yashpal Chopra, who served as the company’s Chief Risk Officer (CRO). In an announcement made on December 03, 2024, the company had initially disclosed Mr. Chopra’s resignation, but it was pointed out that the required details under the SEBI circular dated July 13, 2023 were inadvertently omitted. As a result, the company has now submitted a fresh announcement, which includes the missing details and a copy of the resignation letter.
Reason for Resignation
Mr. Yashpal Chopra tendered his resignation from the position of Chief Risk Officer effective from the close of business hours on December 02, 2024. According to the company, Mr. Chopra resigned in order to pursue career opportunities outside the organization. As a result, he also ceased to be a member of the Risk Management Committee (RMC).
Explanation for the Discrepancy
In response to the omission in the original announcement, 5paisa Capital has clarified that the letter of resignation was unintentionally left out of the initial disclosure. The company expressed that this oversight was unintentional and does not reflect any deliberate non-compliance. The company assured that it remains committed to adhering to all regulatory requirements and will implement more robust compliance measures going forward to avoid such discrepancies in the future.
Additional Information
The company’s updated announcement contains all the necessary details as per the Regulation 30 of the SEBI Listing Regulations, ensuring complete transparency about Mr. Chopra’s resignation and the reasons behind it.
In compliance with SEBI guidelines, 5paisa also provided the resignation letter of Mr. Yashpal Chopra for record-keeping purposes.
About 5paisa Capital Limited
5paisa Capital Limited is a leading financial services provider, offering a range of investment and trading solutions to individual investors, businesses, and institutions. The company provides services related to stock broking, mutual funds, insurance, and other financial services through its robust digital platform.