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Renaissance Global Ltd. Clarifies Delay in Reporting Resignation of Senior Management Personnel
Team Finance Saathi
27/Dec/2024
What's covered under the Article:
- Renaissance Global Ltd. clarifies delay in submitting resignation details of Ariez Tata to the exchanges.
- The company apologizes for the inadvertent delay and outlines the reason for the late disclosure.
- RGL commits to timely future disclosures as per SEBI regulations.
On December 27, 2024, Renaissance Global Ltd. (RGL) issued a clarification regarding the delay in informing the BSE and NSE about the resignation of Mr. Ariez Tata, the President of Product Development and a Senior Management Personnel (SMP). The resignation, effective from December 20, 2024, was initially disclosed to the stock exchanges on December 26, 2024, in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015. However, the company noted that it inadvertently missed the required additional details of the resignation due to the non-availability of information from the HR department.
In response to a communication from BSE dated December 27, 2024, requesting further details on the delay in reporting, Renaissance Global Ltd. explained that it had received the resignation letter from Mr. Tata on December 26, and the disclosure was made immediately upon receipt. The company emphasized that the delay was unintentional, resulting from the HR department’s timing and not a deliberate act.
RGL also assured that it is committed to ensuring strict compliance with SEBI’s regulations and that such a delay will not happen again in the future. The company expressed its regret for the inadvertent delay and clarified that it will ensure timely disclosures moving forward in accordance with the Listing Regulations.
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