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DiGiSPICE Technologies Announces Change in Senior Management Effective January 2025
Team Finance Saathi
21/Dec/2024
What's covered under the Article:
- Mr. Binu Varghese will transfer to Spice Money Limited as Vice President - Legal effective January 1, 2025.
- The transfer of Mr. Varghese results in his cessation as a senior management personnel at DiGiSPICE Technologies.
- The disclosure is in line with the SEBI Listing Regulations and the company’s compliance requirements.
DiGiSPICE Technologies Limited has announced a change in its senior management, effective January 1, 2025. According to a disclosure filed with BSE and the National Stock Exchange of India (NSE), Mr. Binu Varghese, the current Vice President - Legal at DiGiSPICE, will be transferring to Spice Money Limited, a material subsidiary of the company. As part of this change, he will cease to be a senior management personnel at DiGiSPICE Technologies effective from the aforementioned date.
This management change has been disclosed by the company in compliance with the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. According to the SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024, the company is required to inform the stock exchanges about such changes in senior management.
The reason for this change is stated as Mr. Varghese's transfer to Spice Money Limited, which is a material subsidiary of DiGiSPICE Technologies. The company has not provided additional details about the role or responsibilities that Mr. Varghese will take on at Spice Money, but it is understood that he will continue in a senior legal capacity.
The transfer marks the cessation of Mr. Varghese from his current role at DiGiSPICE Technologies, and it is a routine adjustment in the company's corporate structure. The company has followed all prescribed disclosure requirements to ensure transparency in the matter. No relationship between directors has been disclosed in this case, as Mr. Varghese’s transfer is an internal company decision, and no new appointment is being made within the senior management at DiGiSPICE Technologies.
This update is part of DiGiSPICE’s ongoing efforts to maintain compliance with regulatory frameworks while managing the structure and growth of its subsidiaries. As the company evolves, such strategic changes are important for ensuring that its subsidiaries, including Spice Money, have the right leadership to support their operations and growth in their respective markets.
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