Arfin India Limited, a leading financial and industrial company, has announced the resignation of its Chief Financial Officer (CFO), Mr. Tarunkumar Acharya, due to medical reasons, effective from the closing of business hours on November 30, 2024. This marks a significant change in the company's leadership, as Mr. Acharya had been serving in the role under Section 203 of the Companies Act, 2013. His resignation, due to unforeseen medical emergency, comes as a surprise to many, although no other material reasons have been cited.

The Board of Directors of Arfin India Ltd. held a meeting on the same day to accept Mr. Acharya’s resignation and formally approve the appointment of Mr. Shubham Jain as the new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective December 2, 2024. Mr. Jain, a qualified Chartered Accountant and a member of ICAI, brings with him extensive experience in finance management, auditing, taxation, and corporate governance.

In line with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company also provided an updated list of contact details for its key managerial personnel, ensuring compliance with regulations for transparency and accessibility. The updated list includes Saloni Ghanshyam Hurkat, Company Secretary and Compliance Officer, and Shubham Jain, the new CFO.

The resignation of a CFO, particularly when a company is experiencing growth or navigating changes in the financial sector, can have far-reaching impacts. Arfin India Ltd. is taking steps to ensure continuity and leadership stability by appointing a well-qualified professional like Mr. Jain. This change aligns with the company's strategy to maintain robust financial practices and governance while providing clear communication to stakeholders.

Arfin India Ltd. has further indicated that the updated contact information of its directors and KMP will be readily available on its official website, ensuring that the necessary steps are taken to facilitate any communication related to material events or disclosures as per SEBI guidelines. The company has committed to maintaining high standards of corporate governance and transparency, providing investors and stakeholders with the information they need for informed decision-making.

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The resignation of Mr. Acharya and the appointment of Mr. Jain underline Arfin India’s commitment to maintaining leadership continuity and financial excellence. This transition also signifies a step forward for the company in terms of strengthening its financial management and furthering its compliance with the ever-evolving regulatory framework.

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