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Praj Industries Issues Revised Intimation on Mr. Sanjay Sapru's Resignation
Team Finance Saathi
06/Jan/2025
What's covered under the article:
- Praj Industries submits revised intimation on Mr. Sanjay Sapru's resignation.
- The company includes the missing email attachment with the resignation details.
- This intimation complies with Regulation 30 of SEBI (LODR) Regulations, 2015.
Praj Industries Limited, a leading company in India, has issued a revised intimation regarding the resignation of its Executive Vice President, Mr. Sanjay Sapru. The original notice, which was sent on 30th September 2024 under Letter No. PIL/ANB/L-069/2024-25, informed about Mr. Sapru’s resignation. However, in response to a request from BSE Ltd., Praj Industries provided additional details as part of its compliance under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
On 6th January 2025, Praj Industries clarified that, although the necessary details were provided in the initial filing, the email from Mr. Sapru to the CEO & Managing Director, Mr. Shishir Joshipura, regarding his resignation had not been attached inadvertently. To address this oversight, the company attached the email correspondence between Mr. Sapru and Mr. Joshipura, detailing the resignation.
This revised intimation ensures that Praj Industries complies with SEBI regulations concerning disclosures about changes in the senior management. The company has now taken the required steps to ensure transparency and compliance, which include providing the missing attachment for the record. Praj Industries further requested that this update be noted and included in the records maintained by the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
The resignation, filed under Regulation 30 of the SEBI (LODR) regulations, is a key corporate development that needs to be disclosed to investors, stakeholders, and the public in a timely and accurate manner. By adhering to this regulation, Praj Industries upholds its commitment to transparency, ensuring that stakeholders are promptly informed of important changes in the company’s leadership.