Rajoo Engineers Limited, a prominent name in the Indian manufacturing sector, has announced that its Chief Financial Officer (CFO), Mr. Prakash C. Daga, has resigned from his position, effective from the close of business hours on March 21, 2025. The resignation was formally accepted by the Board of Directors at their meeting held on the same date. This announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, commonly known as the SEBI Listing Regulations.

Reasons for Resignation

In his resignation letter dated December 21, 2024, Mr. Daga cited personal and family priorities along with professional growth prospects as the primary reasons for his decision to step down. He confirmed that there were no other material reasons for his resignation apart from those mentioned in the letter. The letter also expressed gratitude towards the management and colleagues at Rajoo Engineers for their support and guidance throughout his tenure.

Board's Approval and Compliance

The resignation was approved and accepted by the Board of Directors at their meeting on March 21, 2025, and Mr. Daga was relieved from his duties as CFO effective closing business hours of the same day. This intimation was shared with the BSE Limited under the provisions of Regulation 30 of SEBI Listing Regulations, ensuring compliance with the necessary disclosure requirements.

Key Disclosure Points Under SEBI Guidelines

The details of the disclosure provided to BSE Limited included:

1. Reason for Change: Resignation due to personal and professional reasons.
2. Date of Cessation: Effective March 21, 2025, post business hours.
3. Brief Profile and Relationship Disclosure: Not applicable as it was a resignation.

Highlights from the Resignation Letter

In his resignation letter addressed to the Board of Directors of Rajoo Engineers Limited, Mr. Prakash Daga expressed his sincere gratitude to the management and colleagues at Rajoo Group. He acknowledged the memorable experience and guidance he received during his association with the company. Despite expressing sadness over his departure, he mentioned a strong desire to get re-associated with the company in the future if circumstances permit.

Impact on the Company and Transition Plan

The departure of a key executive such as the Chief Financial Officer is often a significant event for any company. While Rajoo Engineers Limited has not yet announced the name of a successor, the company is expected to initiate the search for a new CFO promptly to ensure a smooth transition. Financial continuity and regulatory compliance remain a top priority for the company as it moves forward.

About Rajoo Engineers Limited

Rajoo Engineers Limited is a leading Indian company specializing in the manufacturing of plastic processing machinery. Known for its innovative solutions and global footprint, the company has established a strong reputation in the industry. With its headquarters located at Rajoo Avenue, Survey No. 210, Plot No. 1, Industrial Area, Veraval Shapar - 360024, Rajoo Engineers has consistently delivered quality and technology-driven solutions to its clients.

Compliance with SEBI Regulations

As per the guidelines laid down by SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, Rajoo Engineers Limited has ensured that all necessary disclosures and formalities have been duly completed. The company remains committed to maintaining transparency and upholding the highest standards of corporate governance.

Future Course of Action

Following Mr. Daga's departure, the company will likely focus on identifying a competent and experienced successor to fill the vacant position of Chief Financial Officer. In the interim, the existing financial leadership team is expected to oversee day-to-day financial operations to ensure that there is no disruption in the company's functioning.

Conclusion

The resignation of Mr. Prakash C. Daga marks the end of a successful tenure at Rajoo Engineers Limited. His contribution to the company has been acknowledged and appreciated by the management. As the company embarks on its search for a new CFO, it remains confident in maintaining its growth trajectory and continuing its commitment to excellence. Rajoo Engineers Limited has assured all stakeholders that the transition will be handled smoothly and with minimal impact on operations.

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