P.M. TELE LINNKS LTD. Clarifies Resignation of CFO and Non-Inclusion of Required Disclosures

Team Finance Saathi

    04/Dec/2024

What's Covered under the Article:

  1. P.M. TELE LINNKS LTD. clarifies the delay in submitting the resignation letter of its CFO and non-inclusion of mandatory details as per SEBI guidelines.
  2. The company resubmits the corrected announcement with all required disclosures, including details of the resignation and appointment of the new CFO.
  3. Steps have been taken to avoid such lapses in future filings, with the company ensuring compliance with regulatory requirements.

P.M. TELE LINNKS LTD. has issued a clarification following a query from the BSE Limited regarding the delay in the submission of the resignation letter of its Chief Financial Officer (CFO), Mr. Sree Jithender Kondabathini, and the non-inclusion of specific details required under SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 in the initial announcement filed on 13th November 2024. The company acknowledges the oversight, explaining that the resignation letter was received on 13th November 2024, but a technical glitch resulted in the document not being uploaded along with the final announcement on the BSE portal.

In response to the query from BSE, P.M. TELE LINNKS LTD. has now submitted a revised announcement, which includes the resignation letter of Mr. Sree Jithender Kondabathini and the necessary details, as mandated by the SEBI circular. This resubmission aims to meet the regulatory requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations (LODR) and provide transparency to stakeholders.

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In the revised announcement, Mr. Sree Jithender Kondabathini resigned from his position as CFO and Key Managerial Personnel (KMP) of the company due to personal reasons, with his resignation effective from the close of business hours on 13th November 2024. The company has also appointed Mr. Dipin Surana as the new CFO and KMP, effective from the same date.

The company provides further details about Mr. Dipin Surana's background, highlighting his extensive experience in financial management and his qualifications, including an MBA (Finance) from the Greenwich School of Management, London. His appointment as the CFO is seen as a key step in strengthening the company's financial leadership.

The company assures that it has reviewed its internal processes to prevent such issues in the future and has taken necessary steps to ensure timely and accurate regulatory filings. The company also expressed regret for any inconvenience caused due to the delay and technical issue.

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